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07. November 2016

News release

50 years of cash and valuables services in Germany: KÖTTER to continue to excel as an innovation driver of the industry

Essen/Frankfurt am Main, (November 07, 2016). Cash continues to be "Germany's favorite child:" nearly 80% of all transactions are performed with cash. That's an enormous challenge for daily logistics. KÖTTER Geld- & Wertdienste SE & Co. KG's nationwide cash centers alone processed more than 500 tons of coins every month last year – about as much as the take-off weight of an Airbus A380, the largest and heaviest passenger air-plane in the world.

"This alone makes it clear that modern cash management is a challenge for experts and is essential to private suppliers in the modern cash cycle," emphasized Peter Lange, Managing Director of KÖTTER Geld- & Wertdienste SE & Co. KG, today in Essen. The occasion was the starting signal, given five decades ago, for cash and valuables services in Germany. The anniversary will be celebrated this Wednesday, November 9, by the Federal Association of German Cash & Valuables Services (BDGW), with an official ceremony in Frankfurt am Main.

KÖTTER Cash & Valuables Services has been active on the market since 1970, proving itself to be an innovation driver and guarantor of quality. The company also intends to maintain this position into the future. "We don't want to squander our strengths in a ruinous price war; we want to stand out from our competitors as the best quality service provider," said Peter Lange. "The key to success is demonstrating our performance to clients on an ongoing basis and flexibly responding to customers' needs. The automation of processes and digital cash management in particular are becoming more and more important in this respect."
Important examples are the online portal for electronic customer orders for cash supply and retrieval, the fast and convenient fault resolution on automatic teller machines and our new offering for dispatching automatic machines. Another highlight is the currently ongoing launch of a new scanner generation that raises shipment tracking in cash logistics (track & trace) to a new and secure level. What's more, the cash processing machine fleet is constantly being adapted to the needs of the client. For example, a specialized machine was just commissioned this year that automatically packages loose coins, as an alternative to coin rolls.

Security is top priority. 2015 saw the launch of a new generation of transport security devices that offer maximum protection of customer valuables. With the use of the new "cash case," the risk of robbery is significantly reduced. Last but not least, this year saw the roll-out of a new generation of armored vehicles. They feature high-strength armor steel, complete GPS/GPRS equipment and 360° camera monitoring.
On the occasion of the industry anniversary, Peter Lange also took a position on the frequently recurring discussion about the future of cash: "There are many factors which speak favorably of cash, which is why I am confident in its future." Cost-effectiveness, he said, is an important aspect in favor of its continuance as a central method of payment: cash is by far the most cost-effective payment method. Cashless payment with bank cards is 4x as expensive for retail than the expense for cash logistics; credit cards, meanwhile, are 15x more expensive.


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