Serving thousands of customers worldwide, APG Cash Drawer powers cash management solutions across a wide range of global industries and verticals. Whether it’s our general application cash drawer, custom designed solutions, or the SMARTtill® Cash Management Solution, our products and brand are differentiated by our ability to deliver innovative technologies that globally enhance efficiency and security at the point of sale. To learn more about APG’s products, visit our website or call 763-571-5000. Stay updated on our products by following us on Twitter, Facebook , Instagram or LinkedIn.
APG has built a reputation as the supplier of choice for cash management solutions for retail, grocery, hospitality, and quick serve for thousands of customers in over 90 countries. For 40 years, APG Cash Drawer has been committed developing durable and dependable cash drawers while utilizing the latest technology. We don’t just build cash drawers, provide solutions for the retail environment to deliver superior customer service and shopping experiences.
Why Choose APG Cash Drawer
If you think credit and debit cards are about to displace cash for retail transactions, think again. Legal tender remains the most commonly used form of payment, accounting for about 40 percent of U.S. transactions overall, up to two-thirds of purchases under $10, and half of transactions valued at less than $50. “Cash accounts for about 85 percent of global consumer transactions,” according to MasterCard. “In most countries the cashless journey has only just begun.” So while plastic and electronic payments have been hailed as the currency of the future, there is a long way to go.
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, which accounted for 91% of all POS payments.
In the past a petrol station was all about fuel but with BP reporting half of its customers in the UK and Ireland are stopping for food not fuel and the recent introduction of electric charging stations and lockers for online pickup, it is clear consumers increasing demand for convenience is changing the sector. Adapting to the new trends, means new and existing customers will keep coming in using cash, card or mobile payments for their purchases.
Theft is one of the retail world’s biggest challenges, especially in the independent convenience sector where stores are often manned by a handful of people that are not equipped with the latest security gizmos. In fact, nearly half of retailers (49 percent) have experienced theft of cash from their premises. This hurts businesses and their customers because merchants often have to pass on these losses by raising prices. With cash management solutions, businesses can fight back against theft and achieve an advantage over competitors.
Erik Metzdorf knows what it’s like to be a victim of your own success. When his food truck, Metzy’s Taqueria, rolled onto the streets of Newburyport, MA, in spring 2014, a line of customers wanting to buy tacos and burritos wrapped around the block. While it shouldn’t take more than a few minutes to fulfill an order, customers were forced to wait much longer.
APG Cash Drawer, LLC
5250 Industrial Boulevard
Minneapolis, MN 55421
Phone: (763) 571-5000
Fax: (763) 571-5771
Contact: Robert Daugs
In this digital age, cash still represents 30% of all retail store transactions and 55% of transactions under $10. Cash also accounts for almost half (41%) of fast food purchases and a third of transactions (33%) at convenience stores. As mobile wallets and other cash alternatives are introduced, the trend raises the very real question of whether cash needs legislative protection. In a growing number of municipalities and States the answer is yes.
Retail is undergoing a major sea change as retailers reshape the shopping experience. As consumers become more demanding thanks to the conveniences of online shopping, savvy retailers are making strides to replicate – or even surpass that experience – at physical locations. Retailers who make customer-centric decisions, investing in stores, technology, fulfillment and customer service teams will stand to profit.
For many European shoppers, waiting at checkout lines any longer than five minutes is too long, according to retail study by Adyen. Shoppers are looking for an experience that satisfies three fundamental demands: convenience, context and control.
A five-hour outage on June 1st that left Visa cardholders across Europe unable to complete transactions caused widespread disruption and frustration, and raised serious questions about a future cashless society. Consumers saw cards being declined as they tried to make purchases at gas stations, restaurants, supermarkets and retail stores. Some reported having to stand in line at checkouts for 20 minutes as cashiers struggled to process transactions, not knowing the system was down. Some drivers couldn’t get gas, which for some created a real problem. Among those affected was a member of the British Parliament, Angela Rayner, who tweeted she was able to fuel up because “my local garage knows me.”
POS resellers are essential to a vendor’s strategy to target its products to the right market. Without the benefit of channel partnerships, vendors would be hard-pressed to gain brand mindshare.
Long checkout lanes, disorganized shelves and hard-to-find products lead to frustrated shoppers. And when customers get frustrated, they often give up on a store and walk out, especially if there’s no associate around to help them.
If there’s any doubt about the impact of cash management solutions on the cost structure of retailers, consider this recent finding by IHL Group: Replacing manual processes with automation technology can save retailers an average of 200 to 500 labor hours monthly per store.
Cash is still one of Americans’ favorite methods of payment for purchases. While it scored behind debit cards in the September 2017 Cardtronics Health of Cash study, cash remains the most commonly used form of payment, with 91% of respondents saying they had used cash in person-to-person payments in the last six months. That’s an uptick from 89% a year earlier.
Online shopping has put tremendous pressure on brick-and-mortar retailers, causing large numbers of locations to go out of business. But lest anyone think retail is shrinking, the opposite is actually true. As of July 2017, retail sales were up $121.5 billion over last year, according to a new report by the IHL Group. With the holidays approaching, the NRF also recently projected an increase of 3.6%-4% over last season’s sales.
APG Cash Drawer, like many other manufacturers, relies on the indirect sales channel to get our products and solutions into the hands of our end user customers. This involves working with distributors, POS resellers, OEMs and software developers to ensure our products and services deliver maximum value.