Godrej Security Solutions (GSS), the leading Indian security solutions brand, has launched India's first Plasma Ion based cash sterilizer, 'Steri-on' as part of its COVID Defense Security Range of products. The newly launched Steri-on uses the patented Plasma Ion Cluster technology that releases 19 million ion clusters to sterilize currency in real-time upon detecting notes. It uses a HEPA filter to collect fine dust (PM 2.5) and takes under 30 seconds to eliminate up to 99.9% bacteria and viruses instead of the prevailing germicide-based methods. Godrej Security Solutions estimates the addressable health security and safety market for FY-2021 in the country to be around INR 450 Crore of which the 'Steri-on' itself is estimated to clock in INR 30 Crores revenue.
Godrej Security Solutions conducted a structured survey of 100 bankers to understand the importance of sterilizing current notes. The survey highlighted that most bankers felt a strong need to protect themselves especially in times of COVID-19. 84.5% of the respondents are still using hand gloves to protect themselves from exposed currency notes. 70% of the respondents highlighted that sanitizing the currency in real-time would be a much more effective way of controlling the spread of communicable diseases.
Using Steri-on will reduce the risk of infection in cash-heavy sectors such as Banking, Retail, Gems, and Jewelry where still the primary and preferred mode of transactions is in cash. Sterilizing currency notes with plasma ion technology will secure and safeguard the health of both employees and customers.
Commenting on the launch, Mr. Pushkar Gokhale, Head of B2B & Vice President, Godrej Security Solutions said, “Godrej Security Solutions has always been at the forefront of securing our nation through solutions which are made for India. Besides being the Guardians of the Nation’s wealth, we are now expanding our portfolio to safeguard their health. The newest product in our existing health security range is the Cash Steri-on, which is India’s first cash sterilizer which uses plasma ion technology. This will help bank tellers’ count and sterilize currency notes in real-time without impacting the entire cycle of processes. With banks being an essential service and India gradually unlocking, we believe we will help India #EmergeStronger with our trusted range of solutions.”
The Plasma ion cluster is the patented technology of Sharp Japan and several globally leading brands use it for their air purifiers and air conditioners. South Korea’s headquartered company, SMI, created the world's first opened currency sterilizer machine that uses the plasma ion sterilization technology. Godrej Security Solutions has collaborated with SMI to introduce this technology to the Indian market. Several institutions in Japan, South Korea, the United States of America, and the Middle East region already use this technology to sterilize their currency notes.
There are several scientific studies and research reports which have highlighted how pathogens, viruses, bacteria, and particulate matters can survive on paper-based currency and can be a probable contagion of diseases including COVID-19. India is a cash led economy where 94% of transactions being done in cash and digital transaction are still in nascent stages. This product will address the problem of sterilizing currency notes at the source i.e. banks.
Steri-on will be available pan-India at a starting price of INR 95,000.
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