April 12, 2016 7:18 pm | Updated 3 years ago.
Walmart , an American retailer has entered into a deal worth $120million with G4S ,a pioneer in security related products and services. G4S also specialize in outsourced business processes in the sector related to security. This agreement is for a period of five years and includes providing services related to the Cash360 system in all the Walmart stores in America.
Walmart has about 900 stores in the US and G4S will be responsible for setting up of its Cash360 systems across all outlets. This system has been specially designed to upgrade security in the stores by lowering the need for cash transactions. This deal to outsource security issues to G4S is presently waiting for the final clearance from Bank of America.
Walmart with a customer base of over 260 million has ordered for 360 such systems. Presently, 1360 stores will be upgraded with this facility and it will also encompass 2750 more stores in the near future.
Date of Publication: April 11, 2016