Information about VTB Bank's development of its own online cash register appeared in November 2020. What stages has the VTB cash register gone through in its development?
The VTB cash register has gone through stages from pilot testing on 200 devices to scaling the product to the entire SME segment. Today, it is a comprehensive solution for accepting cash and non-cash payments, combining a whole set of acquiring tools: it is suitable for online stores as well as for online commerce, it can work with bank cards and pay services, supports acceptance of non-cash payments using SBP QR codes, prints checks and transmits data to the Federal Tax Service in real time, integrates with external sales accounting systems, payment and industry services, and in 2022 we added SoftPOS technology. That is, the modern VTB cash register is an entire ecosystem of services for accepting all types of payments in one device.
At what stage did the VTB cash register become a full-fledged software?
The VTB cash register is a comprehensive product that includes a "3 in 1" device – a cash register, a POS terminal, and a barcode scanner, as well as software – cash register and payment applications. During the pilot phase, we used software from the hardware supplier with basic functionality that did not take into account the business needs of VTB clients. After the successful completion of the pilot, it was decided to develop the cash register software on the bank's side, refine the necessary functionality, and add additional features in accordance with market trends. After that, the VTB cash register became not only a terminal but also software.
Do you sell the VTB cash register through distributors or on marketplaces?
The VTB cash register is only available through the bank's channels, as technically it is not sold but provided to the client free of charge for the duration of the contract. The VTB cash register is not just a cash register terminal but a banking service for turnkey acquiring services, which includes the cash register itself with a fiscal drive, its configuration, and a technician's visit to install it at the point of sale, and maintenance. The bank takes care of all the necessary procedures from a legal point of view: configuration and registration with the Federal Tax Service, as well as connecting the cash register to the OFD (fiscal data operator, which collects and transmits payment information to the Federal Tax Service). This is the advantage of the VTB cash register compared to the solutions available for sale. The client does not have to worry about such technological and regulatory nuances; the entrepreneur turns to VTB for the "payment acceptance" service and receives a cash register fully ready for operation.
How much can SME representatives save by using your solution?
By purchasing the VTB cash register, clients save on the cost of the device itself, paying only for the service part for configuring and registering the cash register with the Federal Tax Service. The savings can be up to 30% of market conditions when the cash register needs to be purchased together with a fiscal drive, pay for the services of a technician at the Technical Service Center (TSC) for registration with the Federal Tax Service and configuration of the cash register and acquiring itself, and obtain a qualified electronic signature (which is issued free of charge at VTB when opening an account). In addition to financial costs, this also requires time from the client, which is expensive for business. We, as a bank, remove all these issues, providing a turnkey solution.
What OS does the product run on? And are there plans to expand it to other systems?
The solution runs on Android OS; today this is the best option for service development. As for other OSs, the iOS platform, for example, is not seen as a promising direction. Today, implementation on it is impossible: there are restrictions from the vendor on use, it is closed and does not have the ability for custom modifications. The most promising mobile OS in the context of import substitution is the Russian "Aurora", but we are only looking at it so far.
What other improvements are planned for the VTB cash register?
Since December last year, we launched the VTB cash register configuration based on Soft POS technology. The solution works on an Android smartphone with NFC. Now, bank clients can use their phone as a payment terminal and accept payments using bank cards and SBP. In addition, the VTB cash register on a smartphone can connect to the "mother" VTB cash register "3 in 1" and automatically send payments for fiscalization to comply with 54-FZ. The buyer, in turn, receives a fiscal check in an SMS or by e-mail.
In the future, we will continue to develop software as part of end-to-end integrations with external popular accounting and warehouse programs; new methods of payment acceptance are already being developed (reading a QR code from a client's smartphone), and it is planned to connect to a loyalty program aggregator to accrue store bonuses without providing a loyalty card.
In terms of sales, we have presented clients with the opportunity to connect and service the VTB cash register in installments – this payment method is available as a special option to all RKO service packages of our bank. Thus, clients can reduce the initial financial burden when purchasing a cash register, which is especially relevant for starting businesses.
In the near future, we plan to speed up and simplify the registration procedure - we will issue a configured and registered cash register on the day of application to the bank office. All settings and registration actions will be performed in a short time in the presence of the client.
What tools do you use to promote the product?
Since the VTB cash register is a mass product for medium and small businesses, we advertise it quite widely, including on federal channels and at major industry forums. We actively cooperate with partners, including LIFE PAY, CCT, "First OFD", "Multicarta", and others. All this gives a significant influx of clients and helps to successfully sell the product.
What other systems are the developers of the VTB cash register currently working on integrating with?
Today, more than 20 integrations with industry solutions for various business areas have been created within the product. The VTB cash register interacts with companies representing such areas: 1C – accounting, UON – tourism, STO CRM – car services, Rkeeper – HoReCa (hotel and restaurant business), PRODUMAN – Order pickup points (PVZ) of marketplaces (Y.Market, Ozon, WB), iiko - restaurants, infoclinica.ru - medicine, posiflora – flower sales, mapteka - pharmacies, and others. This list is constantly expanding. Soon we will add yclients from the service sector, retailcrm - trade, DentalPRO – dentistry, ENOTE – veterinary clinics.
Is integration with external loyalty programs available?
At the moment, there is an open API protocol, with which any loyalty system can join the VTB cash register.
What can you say about the information security of your product?
Our solution guarantees clients complete sales security and compliance with all legal requirements. The VTB cash register is certified to work with the Federal Tax Service and regulatory authorities that control business activities under 54-FZ.