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: Smart digital labels and pricing automation
07.02.2020   #displays #electronic shelf labels (ESL)

Smart digital labels and pricing automation

SES-imagotag at EuroShop 2020

For 25 years, SES-imagotag has been the trusted partner of retailers for in-store digital technology. SES-imagotag, the worldwide leader in smart digital labels and pricing automation, has developed a comprehensive IoT and digital platform that ...

Thumbnail-Photo: Corona crisis: Contactless payment more popular than ever...
30.03.2020   #cashpoints #brick and mortar retail

Corona crisis: Contactless payment more popular than ever

Practical, fast, and, above all, hygienic

"Please make contactless payment if possible." These or similar notices are currently in the checkout area of many grocery stores. By reducing necessary contact points in the checkout zone, it is hoped to counteract the spread of the ...

Thumbnail-Photo: Digital tool helps MENY in the fight against food waste...
13.02.2020   #sustainability #app

Digital tool helps MENY in the fight against food waste

Printing discount labels directly from the app

After a convincing test, Dagrofa rolls out the food waste app ‘Whywaste’ in all the Danish MENY stores. At MENY in Solrød, the store has already managed to achieve a significant reduction in food waste. In addition to the app, the ...

Thumbnail-Photo: Toshiba demonstrates the future of shopping at EuroShop 2020...
13.02.2020   #self-checkout systems #Trade fair special EuroShop 2020

Toshiba demonstrates the future of shopping at EuroShop 2020

Toshiba spotlights innovations enabling retailers to create “moments that inspire”

Toshiba Global Commerce Solutions offers EuroShop 2020 attendees a look into the future via its ‘Frictionless Store’, Feb. 16-20, hall 6 booth C41 in Düsseldorf, Germany. Toshiba’s innovative solutions enable retailers to ...

Thumbnail-Photo: Toshiba bolsters point-of-sale performance with latest Intel technology...
21.01.2020   #pos marketing #self-checkout systems

Toshiba bolsters point-of-sale performance with latest Intel technology

9th generation Intel® Core™ processor enhances retailer operations and customer experience

Toshiba Global Commerce Solutions continues to empower retailers and enhance the customer experience by integrating Intel’s latest processor technology within its global point-of-sale (POS) systems. The 9th Generation Intel® Core™ ...

Thumbnail-Photo: Wow factor affects the bottom line at Denmarks largest garden center...
22.01.2020   #consulting #electronic shelf labels (ESL)

Wow factor affects the bottom line at Denmark's largest garden center chain

ESL results in time savings for employees and creates a positive customer experience

The rollout of electronic shelf labels is in progress at Plantorama, which expects both economic and operational benefits by replacing the paper shelf labels in all of the chain's garden centers. Staff members need more time for customers and it ...

Thumbnail-Photo: Light up the future with Posiflex at EuroShop 2020...
11.02.2020   #kiosk terminals #Trade fair special EuroShop 2020

Light up the future with Posiflex at EuroShop 2020

Serviced IoT solutions: personalized, flexible and connected

The Posiflex Group, a synergy of world-leading POS, kiosk, and industrial computing technologies — will bring its Serviced IoT solutions to EuroShop 2020, the leading Europe trade fair for the retail industry, from February 16th – 20th ...

Thumbnail-Photo: Password? No need!
09.03.2020   #mobile payment #security

Password? No need!

Interview with Dr. Daniel Schellenberg, COO of IDEE GmbH

Do you have an existing user account? Did you forget your password? No doubt, those are some annoying questions when you shop online. The brains behind IDEE agree and leverage your "digital identity" to make surfing and online shopping ...

Thumbnail-Photo: Successful local grocery store: Here is the recipe...
10.01.2020   #electronic shelf labels (ESL) #food retail

Successful local grocery store: Here is the recipe

Fast price adjustment with electronic shelf labels

Many small local grocery stores have difficulty getting a profitable business, but in the Danish cottage area between Nymindegab and Hvide Sande, the local Min Købmand store in Bjerregaard has found the recipe to be successful. Now, the ...

Thumbnail-Photo: Cutting through the tax jungle
25.02.2020   #online trading #e-commerce

Cutting through the tax jungle

Startup helps online retailers to be fully compliant with European VAT regulations

Anyone who sells goods online is obliged to pay value-added tax (VAT). The amount depends on the respective national regulations. But what happens if you have cross-border exports and transactions? How much VAT do sellers have to pay in this case ...

Supplier

Checkpoint Systems GmbH
Checkpoint Systems GmbH
Ersheimer Str. 69
69434 Hirschhorn a. Neckar
Frost-Trol s.a.
Frost-Trol s.a.
Ctra. Valencia-Barcelona, km. 68,9
12080 Castellon
SES-imagotag Deutschland GmbH
SES-imagotag Deutschland GmbH
Bundesstraße 16
77955 Ettenheim
MAGO S.A.
RUSIEC ALEJA KATOWICKA 119/121
05-830 Nadarzyn
Poindus HQ - Taiwan
Poindus HQ - Taiwan
5F., No.59, Ln. 77, Xing-Ai Rd.,Neihu Dist.
Taipei City 114
POSIFLEX GmbH
POSIFLEX GmbH
Flinger Broich 203
40235 Düsseldorf
Adasys GmbH – a Poindus Company
Adasys GmbH – a Poindus Company
Max-Planck-Straße 10
70806 Kornwestheim
Burkhardt Leitner Modular Spaces GmbH
Olgastrasse 138
70180 Stuttgart
APG Cash Drawer (Germany)
APG Cash Drawer (Germany)
Leichtmetallstr. 22a
42781 Haan-Gruiten
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal