Ribao Technology, a professional manufacturer of cash handling equipment since 1996, showcased their latest products at EuroCIS 2022. In an interview with Curt Nedell, CEO of Ribao Technology Europe, he shared his unique opinion on the future of cash and advancements in cash handling equipment. He also takes a look ahead to next year's EuroCIS. Let's take a look at this short video.
The following is a transcript of the interview in the video:
Host: Ribao Technology has been a professional manufacturer of cash handling equipment since 1996. Today we came to the Ribao Technology booth at EUROCIS 2022.，We caught up with Curt Nedell, CEO of RIBAO TECHNOLOGY EUROPE.
Mr Curt: Hello, I am Curt Nedll. In 2019, Suzhou Ribao established a European branch. As the head of the branch, I provide European customers with more timely and effective services.
Host: Even before the pandemic, the future of cash was being discussed as the use of digital payments accelerated. But the pandemic has raised the volume of that debate significantly. With nearly three decades of experience in the field of cash handling, what is your opinion?
Mr Curt: We don't agree with that outlook. The continuous growth of Our money counter sales since 2021 has also made us realize that the demand for cash processing is increasing; We think the economic recession caused by the epidemic has made the public feel that cash is safer than third-party payment methods. With the pandemic over, The Euro Central Bank announced a huge rise in the demand for euro banknotes over the past year: an increase of €190 billion between March 2020 and May 2021.
Host: What products are actually helping retailers minimize the cost and risk of handling cash?
Mr Curt: In response to the contradiction between the increase in cash demand and the decline in purchasing power caused by the economic recession, we bring mixed denomination value counter BC55. Through technological innovation, we can use the price acceptable to the retail industry to create a bank-grade money counter. The BC-55, while maintaining durability, stability and strong counterfeit detection, has added some functions for the cash processing needs of the retail industry, and has become a hot-selling product on Amazon in the United States.
In the rapidly changing landscape of cash handling, Ribao Technology has remained a steady presence for over 25 years as a trusted manufacturer of cash handling equipment. Their participation in EuroCIS 2022 showcased their latest products and innovative solutions, such as the mixed denomination money counter BC55, which offers bank-grade accuracy and counterfeit detection at an affordable price. In an interview with CEO Curt Nedell, he shared his unique opinion on the future of cash and advancements in cash handling equipment, as well as the increasing demand for cash processing despite the rise of digital payments. As the industry continues to evolve, Ribao Technology remains committed to providing timely and effective services to businesses.