Aruna Mittal, 67, was the owner of Any Checks Cashed on the 5800 block of Old York Road.
Officials say Mittal left the store just before 12:30 p.m. and then came back around 1 p.m.
A man with a gun followed her inside.
Police say he forced his way behind the security glass to where the money was, but there was a violent struggle for the gun.
It was during that struggle, the victim was shot once in the chest. She was pronounced dead at the scene a short time later.
The suspect got away with money from the cash register.
Neighbors say Mittal was a wife, a mother, a business owner and a member of their community.
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Investigators used a power saw to remove what appeared to be a bullet from a metal wall inside the store.
Police say the entire robbery and killing played out on video captured inside the store.
Chopper 6 was overhead as police cordoned off an area of the block.
Chopper 6 over death investigation inside Philly check cashing business
The gunman remains on the loose.
Police are looking for a man in his 40s who was wearing all-black clothing at the time of the shooting.
Anyone with any information is asked to call police at 215-686-TIPS.