Leipzig, 02/09/2021. Together with GS1 Germany and the EHI Retail Institute, ALVARA | Digital Solutions hosted the CashCon 2021 for the first time fully virtually on January 27 and 28. Around 150 representatives from politics, financial institutions, trade, the cash and valuables service industry, and associations primarily discussed the future of cash. Declining usage rates, caused by the Corona pandemic, pose numerous challenges to the industry. The organizers' balance is consistently positive.
"The CashCon was originally planned as an in-person event in Leipzig. Due to the current situation, we switched to a virtual format at short notice," explains ALVARA | Digital Solutions Managing Director Thomas Vietze. "The feedback from the participants was very good."
The contributions from event guests were also impressive. Among others, Wolfgang Kubicki, Deputy Federal Chairman of the FDP and Vice President of the German Bundestag, clearly spoke in favor of maintaining cash. The defense of freedom also includes the defense of cash (See: https://www.geldinstitute.de/networking/2021/cashcon-2021—ueber-die-zukunft-des-bargelds.html).
"Cash is an indispensable component of a functioning democracy," also explained Andrea Nitsche (See: https://www.cash-con.de/programm) in her presentation of the "Cash Counts" initiative, which advocates for politically ensuring the acceptance, availability, and access to cash. The statement that cash guarantees data protection was also very well received by the participants.
Equally enlightening was the lecture by lawyer Christian Solmecke: He informed that trade and sellers may not refuse to accept cash if they have not expressly informed the end customer about it before payment.
Numerous best practice examples from commerce showed how processes can be optimized, digitized, and costs saved. For example, dm drogerie markt described its path to a mobile and paperless office. Through a restructuring of cash management, administrative activities are noticeably reduced here. The paper-based safebag handover receipts — additionally made from thermal paper, which must be disposed of as hazardous waste — are now replaced by digital receipts during the pickup of cash by the valuables service provider using the ALVARA Logistic App. The app's digital driver authentication allows for increased security for branch employees during cash handover, along with the elimination of paper-printed driver lists to comply with GDPR, as well as the generation of one-time codes for safe solutions. Edeka Fürstenberg, Netto, and Globus also provided valuable insights into their current processes regarding coin service, cash cycle, and central cash register technology.
"Recycling systems are becoming increasingly popular among cash actors in Germany, leading to a significant increase in reports of processed notes and coins to the Bundesbank," summarizes ALVARA | Digital Solutions Managing Director Bernd Hohlfeld on the cash logistics focus of the second day of the event. This also requires new solutions for reporting. The Bundesbank is currently developing an automatic reporting capability in cash recycling for automated message exchange regarding master data and operational data for the banking sector. Dr. Harald Olschok provided information about the BDGW initiative "Cash - More Than Notes and Coins" and the continuous work on innovative and sustainable solutions for cash and valuables transport. The challenges organizations face regarding cash and the solution options available were presented by Heinz Spiegelmacher of Ziemann in his lecture.
The conference was rounded off by the presence of sponsors G+D, Anton Debatin, BMWL, CIMA, Gunnebo, Insys, and NGZ, as well as the presentation of their solutions for an efficient, transparent, and secure cash cycle.
The next CashCon will take place on January 26 and 27, 2022.