All-In-One POS Solutions

by Katja Laska

Digital solutions in retail and hospitality – the COVID-19 pandemic has made it clear that they are a must-have for success. "Yet they remain an enigma for many businesses," says David Feichter, Chief Product Officer at orderbird AG. He explains why and how service providers must bridge the gap between the traditional and digital worlds to put the industry sectors on the path to success.

Mr. Feichter, what are the challenges facing the payments industry right now?

David Feichter: The credit card acceptance rate in Germany is still lower than in many other countries, and we identified several reasons for this.

On the one hand, the merchant onboarding process is quite cumbersome, making it comparatively more difficult for German retailers to accept credit card payments. What’s more, many perceive processing credit card payments as more expensive than accepting cash, because they frequently overlook the hidden costs of accepting cash. Cash handling actually costs businesses money thanks to cash deposit fees, money transportation fees, losses from counterfeit currency or change shortages, the time it takes to count cash and to supply coins. These costs carry even more weight when it comes to substantial amounts of money. End customers are also faced with less attractive credit card options. Other countries offer more innovative solutions, including attractive cash-back rewards and other benefits, which are driving credit card acquisition and demand.

Why can the industry no longer avoid POS systems like those offered by orderbird?

Feichter: By now, credit cards have become the leading means of payment in Germany, which means this option has also become imperative for independent and small and medium-sized businesses. The last two years have accelerated digital transformation by months or even years. To keep up and adapt in a highly competitive market, you must be flexible and willing to embrace digital solutions. Having said that, they remain an enigma for many hospitality businesses and retailers, even though these tools will ultimately make the workday easier.

Why is orderbird the right solution for a successful retail and hospitality environment and what sets it apart from others?

Feichter: We offer our clients all-in-one solutions that allow them to refocus on the core of their business. Whether it’s guest management, ordering, or back office - efficiency and resource conservation are the main focus. That's why we integrate all these solutions in one system that can be quickly and easily expanded, adapted and tailored to your individual needs and processes. Our checkout systems, software solutions, and payment methods make work transparent, as statistics are accessible from anywhere. Cash register security is another important aspect as it pertains to compliance with tax authority requirements, for example. What sets us apart from other solutions in this setting is the use of a cloud TSE. Unlike hardware solutions other companies continue to offer, this cloud-based solution is much easier to integrate and update. This helps companies save time and money.

How does the application in retail differ from the use in hospitality?

Feichter: Many functions and features are identical and used in the same way in both gastronomy and retail as customers in both sectors prefer a fast, contactless, and mobile payment process. An integrated gratuity function is also becoming increasingly popular. For independent and small retailers, location independence is an important aspect: we have solutions designed for easy use outside of the store at markets or for takeout sales thanks to the all-day battery and unlimited mobile data. You do not need any additional accessories owing to additional features such as a built-in barcode scanner. New items can be created, categorized, and then simply scanned. The receipt printer gives retailers the option of creating and delivering tax compliant receipts with one click.

Next to quick cashless payment, the hospitality sector also underscores management functions to speed up and simplify processes in the service area and in the back office. Hence, we offer a comprehensive guest management system that includes functions such as an online reservation system, an ordering system for offsite pickup and delivery services, guest marketing or digital guest registration. These functions allow businesses to plan more efficiently and utilize their capacity, save guest preferences in a customer database, and boost the company’s online visibility – a critical aspect when sudden changes derail your plans and turn your processes upside down.

What will change for the retail and hospitality sectors after the Nexi acquisition?

Feichter: When we joined forces with Nexi, it was important for us to continue to operate as an independent, separate business unit. That means nothing will change for the retail and hospitality sectors in the short term. With Nexi as a strong partner at our side, our customers can look forward to the further optimization of our existing payment service offerings in the medium term and expect an even better user experience.

What made you take this step?

Feichter: Thanks to its software solutions, Orderbird has enormous growth potential, both from a geographical perspective and as it pertains to expanding its product range of ​​software and financial services. We are convinced the future for us, and our customers lies in offering vertical payment and banking solutions. In the medium and long term, we want to establish orderbird as a go-to payment facilitator in the payment services sector. With its many years of experience and broad footprint as Europe’s leading PayTech company, Nexi can actively support us in the payment business and help us enter the next phase of our corporate development.

Let’s look into the future: How will we pay for our purchases 15 years from today?

Feichter: In the future, it will be imperative for the hospitality and retail sectors to offer digital payment options as quickly and simply as possible and to get loans more easily with better conditions. It is why we are currently developing different financial services next to our POS products. The idea is to provide all-in-one financial services. This facilitates faster and more secure payment processes. It applies especially to accepting payments online, which reduces paperwork and risk.