Sergey PANKIN, Head of the "Trade and Service Enterprises" Department of the SME Block of VTB Bank, answers questions from the iXBT.pro analytical department.
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 both online stores and online commerce, 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, 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 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 turnkey acquiring service that includes both the cash register itself with a fiscal drive, its configuration, and the departure of an engineer to install it at the point of sale, and maintenance. The bank takes care of all the necessary procedures from the point of view of the law: 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 information about payments to the Federal Tax Service). This is the advantage of the VTB cash register compared to those solutions that are available for free 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 that is fully ready for operation.
How much can SME representatives save by using your solution?
By purchasing a VTB cash register, clients save on the cost of the device itself, paying only for the service part for setting up and registering the cash register with the Federal Tax Service. Savings can amount to 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 master in the Technical Service Center (TSC) to register with the Federal Tax Service and configure the cash register and acquiring itself, and issue 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 by providing a turnkey solution.
What OS does the product run on? And are there any 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, does not seem to be 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 framework 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 runs on an Android smartphone with NFC. Now bank customers can use their phone as a payment terminal and accept payments using bank cards and SBP. In addition to this, 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), 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 customers with the opportunity to connect and maintain a VTB cash register in installments – this payment method is available as a special option to all RKO service packages of our bank. Thus, customers can reduce the initial financial burden when buying a cash register, which is especially important 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's 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, 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 customers 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 as part of the product. The VTB cash register interacts with companies representing such areas: 1C – accounting, UON – tourism, STO SRM – car services, Rkeeper –HoReCa (hotel and restaurant business), PRODUMAN – Order pick-up 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 customers complete sales security and compliance with all legal requirements. The VTB cash register is certified to work with the Federal Tax Service regulatory authorities that control business activities under 54-FZ.
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