Smart Safes, Real-Time Cash Visibility & AI Forecasting: A Conversation with Paythings CTO

Paythings
Sep 19
3 min read

Keywords: smart safe for retail, AI cash forecasting, real-time cash management, cash automation for restaurants, smart cash handling system, retail cash visibility, machine learning cash flow

When it comes to running a cash-heavy business like a retail chain, convenience store, or QSR, managing cash efficiently and securely is still one of the most overlooked opportunities for optimization.

We sat down with Mitchell Rankin, CTO at Paythings, to talk about how our platform, combining smart safe technology, real-time data integration, and AI-powered forecasting, is helping operators take control of their cash operations and make more confident decisions.

💬 How does pattern recognition help detect anomalies or prevent fraud in cash operations?

Mitchell: Originally, we used AI to ensure our own systems were performing as expected across large deployments. That quickly turned into something far more valuable for our clients.

Now, we help retailers and restaurant operators detect unusual activity like lower-than- usual deposits, unexpected spikes, or off-pattern behavior across sites. Whether you're running 2 stores or 200, our system learns what’s “normal” and alerts you when something’s not. It’s like having a second set of eyes on your cash — at scale.

💬 How do your systems adapt to shifting cash behavior, like holidays, sales peaks, or economic changes?

Mitchell: Adaptability is a key strength of our machine learning models. We factor in seasonality, holiday cycles, weather conditions, and historical trends to ensure our forecasts stay accurate.

That’s especially important for businesses that experience frequent spikes or lulls. Our system learns and adjusts, so operators can plan change orders, staffing, and pickup routes more efficiently — without needing to babysit the data.

💬 What are the most critical pain points in traditional cash management that smart safes are addressing today?

Mitchell: Visibility and reconciliation efficiency are the biggest challenges we solve. In traditional setups, site staff often spend hours manually counting and reconciling cash, with limited visibility for management or loss prevention teams.

With a smart safe that’s integrated into a connected platform, the entire process becomes transparent — from the point of sale, to deposit in the safe, to bank collection. Store and ops teams get clear oversight, and carriers can optimize pickups based on real-time cash levels. That adds value, cuts costs, and reduces carbon impact from unnecessary trips.

💬 What differentiates a “smart” safe from a traditional drop safe or basic digital model?

Mitchell: A smart safe is far more than a safe with a bill validator. It’s an intelligent service endpoint that’s connected to a broader ecosystem, one that constantly evolves.

Our units are designed to expand in functionality over time. Features like real-time alerts, machine learning, predictive analytics, and multi-system data feeds turn each safe into a powerful operational tool. As part of our platform, they’re always improving based on client needs and feedback.

💬 Real-time data seems central to your platform. How do you handle integration with POS systems, banks, and other safes?

Mitchell: Integration is foundational to Paythings. Our infrastructure was purpose-built to offer maximum flexibility, we don’t believe in one-size-fits-all.

We work with everything from POS systems and back-office platforms to banks and even third-party safes. Our job is to normalize the data, unify it, and deliver it where clients need it, in real time or scheduled batches. This gives our customers a single, connected view of their cash position, regardless of system complexity.

💬 What’s next for Paythings? Any innovations on the horizon?

Mitchell: We’re building even more flexibility and intelligence into our systems. What’s coming includes:

Expanded data feeds and real-time dashboards
Machine learning and AI enhancements
Improved data lakes and BI tools for larger operators

We’ve also got some exciting new capabilities in the pipeline that we’re not quite ready to share — but they’ll make managing cash faster, smarter, and more cost-effective than ever.

✅ Final Takeaway for Retailers & Restaurants

If you're still managing cash manually, relying on basic drop safes, or juggling disconnected systems, it’s time to consider a smarter approach.

With Paythings' smart safe platform, you get:

Full cash visibility across your stores
Real-time and predictive insights
Optimized armored carrier pickups
Fewer errors, better reconciliation, and smarter forecasting
Operational savings and sustainability gains