Wincor Nixdorf relies on GS1 standards

Retailers and banks benefit from standardized interfaces that lower costs and enhance security throughout the entire cash cycle

Cologne/Paderborn, (PresseBox) - How can the overall efficiency of the cash handling process be improved? According to experts, a potential solution lies in a more efficient cash cycle, in which players such as banks, retail enterprises and cash-in-transit companies integrate their processes more closely, for example when it comes to communication along the cash stream. Under the aegis of GS1 Germany, the industry is working to develop process recommendations covering standardized communication via electronic data interchange (EDI), the unambiguous identification of objects along the cash flow and jointly coordinated processes. Now, in the shape of Wincor Nixdorf, GS1 Germany has a new partner to assist in implementing these measures.

Wincor Nixdorf, one of the world's leading suppliers of IT solutions and services for retail banks and retailers, has decided to become a GS1 Germany solution provider. Wincor Nixdorf's goal is to take the GS1 standards into account in its software solutions, its ATMs and cash recyclers as well as in the overarching project plan for Managed Services that is still to be adopted. In this way, Wincor Nixdorf intends to make a contribution toward evolution of the GS1 standards together with other partners in the market. "The commitment made by system and software providers like Wincor Nixdorf has a decisive influence on other cash cycle participants, encouraging them to integrate their processes more efficiently," says Christian Fischer, Cash Logistics Industry Manager at GS1 Germany, welcoming Wincor Nixdorf's involvement. "It takes us a big step closer to the vision of an IT-based network of all cash cycle participants." The advantage of such a network is, for instance, that the commodities in the cash cycle, i.e. the coins, banknotes and transport receptacles, can be tracked no matter where in the cycle they happen to be. That way, those involved always know exactly where their consignments and cash cassettes are, making it easier to manage the risks involved.

"The next important step forward for us will be to integrate the GS1 standards in our solutions and services. Standardized open interfaces will enable our customers to adapt and gear their business to a world that is increasingly governed by networking and shared standards. In our capacity as a GS1 Germany solution provider, we want to play an active part in developing, implementing and disseminating the GS1 standards," says Thomas Fell, Senior Vice President, Retail at Wincor Nixdorf.

The group of GS1 Germany solution providers comprises almost 100 companies from the fields of hardware and software, communications, logistics and category management. They provide solutions that enable companies to optimize their interfaces with partners in the value chain.

This document contains forward-looking statements that are based on current estimates and assumptions made by the management of Wincor Nixdorf AG to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results - including the financial condition and profitability of Wincor Nixdorf - to differ materially from or be more negative than those expressed or implied by such forward-looking statements. This also applies to the forward-looking estimates and forecasts derived from third-party studies. Consequently, neither the Company nor its management can give any assurance regarding the future accuracy of the opinions set forth in this document or the actual occurrence of the predicted developments.

Press releases you might also be interested in

Subscribe for news

The subscribtion service of the PresseBox informs you about press information of a certain topic by your choice at a choosen time. Please enter your email address to receive the email with the press releases.

An error occurred!

Thank you! You will receive a confirmation email within a few minutes.


I want to subscribe to the gratis press mail and have read and accepted the conditions.