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The retail sector in the US is a behemoth and one of the country’s largest and most important. As a broader industry, it’s very susceptible to changes in the economy altering consumer habits. Whether economic downturns reduce spending power or the rise of online retail reshapes the face of the high street, the retail sector is always in flux. This remains true now as the battle between cash and digital transactions plays out with consumers and regulators alike.Â
This current battle is being fought in the nation’s supermarkets, and the weapon of choice is self-service checkouts. For Original Equipment Manufacturers (OEMs) producing self-service checkouts for US retail giants, meeting retailer expectations is no small feat. Retailers demand currency processing solutions that are reliable, cost-effective, and efficient. Falling short of these expectations can lead to lost contracts, damaged reputations, and missed opportunities. Â
This blog explores what retailers expect from cash-handling machines and the challenges OEMs face. As a core component of the retail tech supply chain, we discuss the solutions that OEMs could adopt to help bridge the gap.
The current landscape of self-service checkouts in the US is complicated. For some, the project to automate their retail checkouts has been a failure. A leading major US supermarket chain, Hy-Vee, has removed self-service machines from its stores.Â
Others believe that self-service checkouts have yet to find their final form. Finally, some stores have nailed it and appreciate the throughput advantages of these currency processing solutions.
Reliability
Retailers operate in high-pressure environments where downtime is costly and margins are razor thin. This technology must perform flawlessly, especially at peak hours. The reputational damage for getting it wrong can be long-lasting and cause backlogs across a store.
Cost-Effectiveness
Retailers are constantly looking to optimize costs without compromising quality. They expect self-service checkouts to provide a strong return on investment, improve labor allocation and a robust currency processing solution to eradicate errors.
Efficiency
Speed and accuracy are non-negotiable in retail. Self-service technology must reduce customer waiting times and accurately count, sort, and validate currency to prevent errors. As well as integrate seamlessly with existing POS systems to minimize training requirements and process changes.Â
It’s not just retailers that face pressure from this situation. The OEMs of self-service checkouts too are stuck in a difficult position. They’re often one step removed from the end user/consumer (i.e., direct feedback) and beholden to large retailers. On the other hand, they can also be limited by their component supply chain and cash recycler manufacturers.Â
While retailers have high expectations, OEMs face several challenges in meeting them:Â Â
Developing high-quality cash handling machines that are also cost-effective is a constant struggle. Cutting corners to reduce costs can lead to reliability issues while over-engineering can make a product unaffordable for retailers. Â
The cash handling industry is evolving rapidly, with new features like counterfeit detection, multi-currency support, and cloud-based analytics becoming standard. OEMs must invest heavily in R&D to stay competitive. Â
Retailers operate in different sectors (e.g., grocery, convenience stores, apparel), each with unique requirements. Cash must design versatile machines that can adapt to various use cases without compromising performance. Â
Cash-handling machines must comply with industry standards and regulations, which can vary by region. Non-compliance can result in costly recalls or legal issues. Â
At Innovative Technology, we understand the challenges OEMs face. We’ve worked for years, pioneering and refining our cash recyclers and validators, culminating in
our leading currency processing solution, the NV4000.
Our currency processing systems are designed for reliability and efficiency.
With features like high-speed note validation to increase throughput and counterfeit detection, we can deliver peace of mind to consumers and retailers alike. Built with customization in mind.
With all things cash, commerce and transactions, compliance and regulations aren’t far behind. Our systems are designed to meet US compliance standards, ensuring your machines are market-ready. We’ve also got a network of nationwide support & repair sites in order to facilitate updates and repairs.
Meeting retailer expectations for cash handling machines is a complex but achievable goal. By focusing on reliability, cost-effectiveness, and efficiency, OEMs can deliver products that stand out in a competitive market. However, overcoming the challenges requires innovative solutions and a trusted partner. Â
We’ve been researching the US cash handling industry over the past 6 months, culminating in our guide – The Future of Cash & Cash Handling in Retail: Why Reliable Cash Still Matters in the US in 2025 & Beyond. We believe it’s a valuable tool for both retailers and self-service checkout OEMs.Â