DGAP-News: Vectron Systems AG: Federal Ministry of Finance provides clarity on fiscalisation of POS systems

Münster, 11 November 2019: Vectron Systems AG (Vectron), a leading provider of intelligent, digitised POS systems consisting of hardware, software and cloud services, with focus on the catering and bakery trade, is optimistic about the coming financial years, as the Federal Ministry of Finance (BMF) has now published the final timetable for the implementation of the Kassensicherungsverordnung (Regulations for the approval of technical requirements for electrical recording and safety systems in business dealings). This has dispelled any doubts that the implementation of the new law will again be postponed.

As of 1 January 2020, the statutory regulations actually provide for an obligation to operate all POS systems from this date only with a technical safety device (TSE) that prevents manipulation of the data. Delays in defining the technical standards during 2019 indicated that the TSEs would not be available until the end of 2019.

Various industry associations then asked the BMF for a postponement in order to obtain additional time for the changeover. The Federal Ministry of Finance has now provided final clarity: A non-application decree stipulates that the use of POS systems without TSEs will be exempt from punishment until 30 September 2020. Thereafter, penalties of up to EUR 25,000 per infringement will be due.

The non-application decree means that in less than a year all POS systems in Germany will either have to be retrofitted or replaced. According to experience with fiscalisation in Austria, demand is likely to be divided equally between new purchases and retrofits.

Due to the high installation base of Vectron in the German market, this results in a record demand for new POS systems and software updates. In preparation for the new legal requirements, Vectron has already ordered considerable quantities of TSEs from the manufacturers and is therefore well prepared for a major surge in demand.

About Vectron:

With more than 200,000 installations, the listed Vectron Systems AG is one of the leading European manufacturers of POS systems. Stable hardware combined with flexible, reliable software has made Vectron a market leader within the hospitality and bakery industries in German-speaking countries and in Benelux. Several hundred specialist trade partners distribute the products internationally. Digital Cloud Services are offered under the brand names myVectron and bonVito. The spectrum ranges from loyalty and payment functions to online reservations and online reporting. All the services are directly connected to the POS system, making it the core data center. More information available at www.vectron.de.