Futurex Crypto Chat with Tidypay: Digital Cash, Mobile Payment Trends, Ice Cream
Ben: Tell us about how your digital cash register system works.
Karoline: Our all-in-one cash register is actually a unique 4-in-1 unit:
- It connects online to the enterprise resource planning (ERP) system and collects all the needed information.
- All bookkeeping is done automatically in realtime.
- It’s a fully functional cash register that can even do inventory and supplier orders.
- It’s a PCI-DSS certified payment terminal for pan-European market.
- It has a built-in printer and scanner.
Ben: What is your most unique customer (use case)?
Karoline: Our uniqueness is spread across customer industries. We have every customer from farriers and ice cream trucks, to plumbers and blacksmiths. Most of them are not used to having a cash register, and certainly not a payment terminal.
Ben: Do you think cash will eventually go away?
Karoline: In Scandinavia, cash has more or less gone already. We actually have many shops who are fighting for the right to be completely cashless. So far, this is not allowed by law, but still many small shops are cashless. In retail and hospitality, cash will be gone in a few years.
Ben: What are the top mobile payment trends?
Karoline: The really big shift in Scandinavia are the mobile wallets that have taken over the cash market. Even holiday gifts are given this way (believe it or not). And now with the big American mobile wallets — such as GooglePay and ApplePay — this will escalate further, in all industries.
Ben: Do you still carry cash?
Karoline: I know the founder of Tidypay, Inge Rune Tetlie, hasn’t done so for years. I do sometimes, actually, because I buy items from the local shop, and he does not have a digital cash register — but again he is 92 years old!