Advertorial • 01.02.2019

A new approach to cash handling

Cash as a service

Thanks to the rapid expansion of e-commerce and Amazon, there is no doubt that a range of new card payment options are on the rise. At the same time, retailers are still handling enormous amount of cash daily because cash remains by far the most commonly used payment method by shoppers throughout the world. In the Euro zone, for example, cash was the main payment choice for purchases under 45 Euros, which accounted for 91 percent of all POS payments.

Where there is a cash, there is a cost, and some of that is absorbed in the day-to-day running of a business: cashing up at the end of the day, issuing floats for shift changes or cash loss investigations, to name a few. It is critical that brick and mortar stores have visibility into these activities to be successful. By investing in cash management technology, merchants can reduce any unnecessary costs that don’t contribute to the bottom line.

What if merchants had a way to accept cash payments without the costs and hassles of cash management? That’s what Transtrack International set out to address by creating Numus, a cash-handling software solution company that deposits the value of every cash transaction in real time at a merchant’s account. To enable automatic cash-back deposits, Numus, Amsterdam, Netherlands, needed to pair the software with an intelligent cash drawer that tracks notes and coins of any denomination in real-time. After looking around, Numus chose APG’s SMARTtill Intelligent Cash Drawer.

Supplier
Logo: APG Cash Drawer

APG Cash Drawer

4 The Drove
BN9 0LA Newhaven
UK
Customers and sales woman at a cash register; copyright: GettyImages/APG...
Source: GettyImages/APG

Transtrack International makes software for the money transport market used by banks and Cash in Transit (CiTs) companies in 21 countries. The company wanted to make cash transactions easy and cost-effective, so it introduced a new concept for retailers with Numus, requiring minimal effort from merchants for cash handling and allowing customers to pay with cash.

Treat cash like cards

Numus Cash Payment Service is ideal for environments with a lot of cash transactions such as restaurants, fashion shops, convenience stores and supermarkets. The Numus solution automates cash management and eliminates time-consuming tasks such as counting cash, preparing deposits, managing float levels, investigating discrepancies, doing manual reconciliations, change money handling or managing CIT collections – basically anything related to cash. “We do cash as a service, so we are a cash payment provider who handles all of your cash payments from till to bank,” says Maxim Schoew, who is responsible for Business Development at Numus.

For merchants, cash is handled like a credit card. “Every cash payment goes to the till and is immediately booked into your account,” says Schoew. After each transaction, what follows becomes Numus’ responsibility. Similar to card and mobile payment residuals, all of the cash management is taken care of for a small fee, which is a percentage of each cash transaction.

Less cash hassle, lower risk

The SMARTtill Intelligent Cash Drawer records and counts each transaction. If there’s a discrepancy, the Numus system flags it in real time for a quick resolution. This makes the cashier’s job easier and prevents costly mistakes. “If people make mistakes, whether or not on purpose, you will see it immediately, so nobody will do it again,” Schoew says.

Based on retailer requirements, Numus sets skimming limits for each till. When the maximum limit amount is reached, a message appears on the cashier’s screen to skim notes from the till and deposit them in a smart safe.

“You don’t even have to worry about your cash logistics from your Smart Safe,” says Schoew. The company can organize the CiT pickups from retailers and transport it to its cash centers. From there, it is transferred to the merchant’s Numus bank accounts. Retailers can get bank accounts statements daily. “It works like a banking system. Everyday you download or you get your statement from the bank,” Schoew says.

"Every cash payment goes to the till and is immediately booked into your account." (Maxim Schoew, Numus)
Laughing sales man at a cash register; copyright: GettyImages/APG...
Source: GettyImages/APG

Schoew says the solution has been deployed successfully with various customers, including Jumbo and HEMA supermarkets in the Netherlands. The cash-as-a-service approach will be different with the supermarket chain because the client has its own logistics for picking up and depositing cash. Because the SMARTtill Solution processes pounds, euros and dollars, the solution can be deployed in multiple countries.

A plug & play solution

The Numus software can be installed in three ways: plug & play, easy connect (POS) and full connect. With plug & play, a cash point is up and running in 15 minutes. No POS connection is needed and almost all functionality and advantages of the Numus solution are available, except for real-time discrepancy management.

Numus offers the functionality to perform the discrepancy management at the end of day/week. With the easy connect installation, a user can compare transactions from the POS real time in the back-office without the need of a connection to the POS itself. Alarms can be sent real-time to the team leader when strange transactions happen. The full connect solution needs a physical POS connection (API) and will enable discrepancy management real-time at the till.

Cloud-based cash handling

Numus is a plug-and-play solution managed remotely from a monitoring center called Numus Plaza. “Our IT department remotely monitors all cash handling hardware and manages everything via cloud based software. Retail chains with hundreds of locations in multiple countries can set up monitoring at their head office 24/7,” says Schoew.

Enhanced customer experience

Numus’ integration with SMARTtill Cash Management Solution and smart safes takes hassle and expense out of cash management for retailers. As a result, employees needn’t handle time-consuming cash-related tasks. “That means they cannot make mistakes any more, and they feel more secure, so they are happier,” Schoew says. Perhaps most importantly, employees can spend more time on face-to-face interactions and other profit generating activities that enhance the customer experience.

related articles:

popular articles:

Thumbnail-Photo: EuroCIS 2019: from the trade fair to the points of sale...
27.11.2018   #digitization #POS Solutions

EuroCIS 2019: from the trade fair to the points of sale

Analogue and digital elements merge in physical retail

Many digital tools presented at EuroCIS over the past few years, have become indispensable to retail today. Which in-store media asserted themselves and what is so special about them? And, beyond this, which tools and technologies have great ...

Thumbnail-Photo: Posiflex: interactive self-service kiosk systems for the POS...
21.02.2019   #kiosk terminals #self service terminals

Posiflex: interactive self-service kiosk systems for the POS

Going through changes and coming out stronger - Posiflex aquisitions

Thumbnail-Photo: Worry-free legal compliance: tips for newcomers to online retail...
18.02.2019   #online trading #e-commerce

Worry-free legal compliance: tips for newcomers to online retail

Interview with Johannes Drijkoningen, Händlerbund e.V. (German online trade association)

It is imperative for all online retailers to be legally compliant. We talked to Johannes Drijkoningen, Association Advisor at the Händlerbund e.V. about support, relevant information and unfounded fear of digitization. ...

Thumbnail-Photo: Self-service sells
08.02.2019   #touch screens #kiosk terminals

Self-service sells

Kiosks represent an important part of retail’s future

Self-service is growing exponentially in all areas of retail, hotels, restaurants, healthcare and banking environments. Customers increasingly expect self-service technology options and traditional brick-and-mortar stores are no exception. Retailers ...

Thumbnail-Photo: Allgeier’s Retail Solution of the Future
03.01.2019   #video cameras #self-checkout systems

Allgeier’s Retail Solution of the Future

The IoT BoxX - a pop-up store fully integrated into SAP

Like hardly any other industry, the retail sector is being exposed to the challenges of technological change. On the one hand, important market shares were lost to online trading, and on the other hand, the online stores are now blazing their trail ...

Thumbnail-Photo: Kaufland relies on state-of-the-art technology...
07.11.2018   #pos systems #retail

Kaufland relies on state-of-the-art technology

With an innovative POS system by AURES Technologies

Kaufland offers a completely new shopping experience with ist new store concept. The markets convince with their new, noble and highquality appearance. Modern colors combined with light wood and a new lighting concept create a pleasant atmosphere. ...

Thumbnail-Photo: SMX Munich 02.-03.04.2019
08.01.2019   #event #marketing

SMX Munich 02.-03.04.2019

iXtenso readers receive 15% off their admission ticket

Innovations, trends and outlooks on SEO, PPC and online marketing will be presented at SMX Munich! Here, including workshops, the most important players and leading heads of the worldwide SEO, PPC and online marketing industry will gather in just ...

Thumbnail-Photo: Using digital data to drive brick-and-mortar retail success...
31.01.2019   #data analysis #brick and mortar retail

Using digital data to drive brick-and-mortar retail success

Advanced Outlet Analytics

When it comes to using and analyzing relevant data, brick-and-mortar retail lags behind its online competition. While e-commerce retailers use detailed data from web analytics, CRM, and Google searches to analyze user behavior and generate ...

Thumbnail-Photo: Trend 2019: The digitization of the stationary retail trade...
29.11.2018   #digitization #omnichannel

Trend 2019: The digitization of the stationary retail trade

From retail to omnichannel business model

For stationary retailers, it is no longer enough to think individually about e-commerce or other digital strategies. Instead, the focus is on networking online, mobile and offline channels and implementing a multichannel strategy, the so-called ...

Supplier

CCV Deutschland GmbH
CCV Deutschland GmbH
Gewerbering 1
84072 Au i.d.Hallertau
Permaplay Media Solutions GmbH
Permaplay Media Solutions GmbH
Aschmattstr. 8
76532 Baden-Baden
MobiMedia AG
MobiMedia AG
Rottpark 24
84347 Pfarrkirchen
ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg
Allgeier Enterprise Services
Allgeier Enterprise Services
Westerbachstr. 32
61476 Kronberg im Taunus
Casio Europe GmbH
Casio Europe GmbH
CASIO-Platz 1
22848 Norderstedt
LANCOM Systems GmbH
LANCOM Systems GmbH
Adenauerstraße 20 / B2
52146 Würselen
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Axis Communications GmbH
Axis Communications GmbH
Adalperostraße 86
85737 Ismaning