"The perfect all-rounder POS device that’s ideal for all retail applications has not been created yet," says Oliver Kapahnke Managing Director at GLORY Deutschland. "But that’s OK.”
In this interview, he talks about what really matters instead, describes the latest POS system trends and reveals why the digitization of cash transactions is an important piece of the puzzle.
What are must-have traits of today’s POS systems?
Oliver Kapahnke: The most important objective of a modern POS system is to optimize operations and processes – both in the retail and food service sectors. That is to say, it relieves the staff of undue burdens, simplifies communication and subsequently improves customer service. More precisely, optimization, in this case, means the POS system must make the payment process easier and faster for customers, while it must simultaneously be intuitive and easy to use. It should also relieve employees from time-consuming and error-prone tasks such as counting money or making change.
More and more retailers rely on mobile or hybrid POS systems. What are the specific advantages of these solutions for merchants?
The benefits of using mobile and hybrid POS systems is the flexibility and universal usability. It allows retailers to give their customers fast and mobile payment options - anywhere. Having said that, while digital payment options are right on trend, nearly 75 percent of Germans still prefer to use cash.
That’s why retailers are challenged to address the ambivalent consumer behavior of using analog and digital methods. Whether it’s self-checkouts, manned cash registers or point of sale systems with separate pay stations: POS terminals with integrated modern cash recycling solutions save resources at the cash points and meet current needs and market trends. Cash payments hardly take any time at all at the cash register. This saves time and creates more opportunities to talk with customers and increase customer loyalty. Last but not least, a modern cash recycling solution promotes the digitization of cash transactions. The process chain is optimized and costs are reduced as a result.
Can you integrate all key features into one of today’s devices, or do retailers still need multiple devices at the POS?
"The perfect all-rounder POS device that’s ideal for all retail applications has not been created yet. It really all depends on the specific requirements. But that’s OK because it is far more important to be able to customize a POS system to meet the specific needs of a business. You should be able to easily combine POS equipment with existing systems, resulting in a perfect total package.
What are the latest POS system trends?
New technologies such as cloud-based POS systems, near-field communication or instant payments have grown increasingly popular. We also note that the cash register is becoming a way to obtain cash. With the recent decline in the number of banks and rising withdrawal fees, cashback services enjoy increasing popularity.
What are your plans for the future? What's next for GLORY?
Right now we are experiencing the digitization of cash management. Individual process steps, which used to run separately now turn into a process chain that ensures greater transparency. We can and want to be a driving force in this changed landscape. In the medium term, we will continue to pursue our "We enable a confident world" vision and strive to advance in other business segments as well – ranging from electronic payments to facial recognition technology and robotics.
For the past few weeks, we have been preparing for our GLORY INNOVATION FORUM, which will start tomorrow in Bonn. This marks the eight time industry stakeholders and experts meet to discuss cash technology solutions. We look forward to these two days.