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Cash-in-transit (CIT) or cash/valuables-in-transit (CVIT) is the physical transfer of banknotes, coins, credit cards and items of value from one location to another. The locations include cash centers and bank branches, ATM points, bureaux de change , large retailers and other premises holding large amounts of cash, such as ticket vending ...
The earliest type was a two-piece hollow wooden ball which ran along sloping rails, carrying cash and sales docket or receipt. [2] One set of rails sloped down from sales desk to cash office and another set sloped in the opposite direction. This was known as a cash railway. William Stickney Lamson of Lowell, Massachusetts patented this system ...
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Cashier balancing [1] or cashing up is the process of a cashier counting the money in a cash register at the end of a business day or working shift. The process is usually conducted in businesses such as grocery stores , restaurants and banks , and makes the cashier responsible for the money in their cash register.
National cash register from the end of the 19th century, National History Museum, Sofia. A cash register, sometimes called a till or automated money handling system, is a mechanical or electronic device for registering and calculating transactions at a point of sale. It is usually attached to a drawer for storing cash and other valuables.
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The systems use a plastic payment card, similar to a credit or debit card, which has an embedded microchip that tracks the card's balance and interfaces with encrypted card readers. This method allows soldiers to purchase goods and services at U.S. military posts and canteens, without carrying cash, or manage their personal bank accounts while ...
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