J.C. Penney (JCP) will say farewell to cash registers, checkout counters and cashiers by 2014, said Ron Johnson, the chain's CEO, during the Fortune Brainstorm Tech conference, reports Time. . . "Think of a physical store without a cash wrap," Johnson told the audience, according to Time. "About 10% of all the money we spend, half a billion dollars a year, goes to [checkout] transactions." The money saved by replacing checkout stations with new technology could be invested in improving customer service, he said.