Cashmaster Expansion, Senior Staff Appointment
Hong Kong, 6 February, 2018 – Responding to recent new contract wins and a projected increase in business, Cashmaster Asia Pacific, which specialises in the design and production of innovative count-by-weight cash-counting devices, has added to its headcount by appointing Steven Man as Business Manager Asia Pacific. In tandem with the appointment, the company is moving to larger office premises, enabling it to accommodate further staff growth as well as to serve its expanding portfolio of Hong Kong and regional clients.
Following the establishment of its regional headquarters in Hong Kong in 2016, the Scottish-headquartered company has been successful in landing contracts with large supermarket chains, convenience stores, and other brand name retailers in the HKSAR and Macau. It has further used that platform to expand its reach into Singapore and Taiwan, and will integrate into Hong Kong its existing sales activities within Japan and Australia, which were previously managed out of the UK.
Global CEO Gordon McKie commented, “We were always confident that Hong Kong and, by extension, the wider Asian region would be fertile ground for our industry-leading products. Cash remains a premier transactional method in most jurisdictions, providing us with an ideal opportunity for growth, and a great number of benefits for our clients including improved operational efficiencies and increased net margins.
“We began conservatively but such has been the response to our Cashmaster One series in the region that we are now in a position to take the next leap in building on those foundations. Steven’s appointment is the latest and a crucial step in our plans for future development, enabling us to respond rapidly to the enquiries that we are receiving. He brings a solid track record in business development and marketing to the table.”
Prior to taking up his appointment with Cashmaster, Steven Man held senior business development roles with global brands such as Haagen Dazs and Columbia. Most recently he worked with Swire Resources where he was responsible for developing channel and key account growth for several outdoor and sports brands.
With the increase in headcount and the orders being placed, the need for more substantial premises became apparent. Cashmaster will be moving its Asia Pacific headquarters to larger offices in North Point, further cementing its presence in the market.
While there is a perception in some quarters that there is a migration towards a cashless environment, Cashmaster’s experience presents a different perspective on the mix of payment methods. Mr McKie said, “We would not be experiencing an increase in the demand for our devices if there were no market for them. The reality is that there is room for all forms of payment including cash, which remains an important form of payment and still has a major role to play. The forecasted demise of cash has been greatly exaggerated. Indeed, it continues to be the most popular payment method across many jurisdictions in Asia Pacific.”
Cashmaster is a global company that specialises in the design and manufacture of count-by-weight cash counting devices using the most advanced touch-screen technology. The company has more than 30 years’ experience in creating innovative and reliable cash handling solutions for a wide range of international clients including supermarkets, convenience stores, retail, banking, fast-food restaurants and coffee shops.