Remote Cash Capture. New opportunities during the COVID-19 pandemic

Published: 9 April 2020 y., Thursday

The demand for solutions helping to increase the autonomy of banks and retail chains work will go up. This opinion was expressed by the head of "Infoline-Analytics" Mikhail Burmistrov in the Kommersant.ru article "Networks distance themselves from collectors". This also applies to remote cash capture solutions.

Indeed, the use of automatic deposit machines (ADMs) and ATMs with the function of account replenishment during quarantine fits perfectly into the frameworks of social distance conception, which is actively being promoted today worldwide and has already proved its effectiveness during a pandemic.

Remote cash capture through ADMs and other terminals reduces the cash deficiency, money storage and transportation costs. During quarantine, a few more benefits are added to these obvious ones.

1.   There is no close contact between collectors and your employees

The deposit of funds through the self-service devices helps avoid any close contact of CIT couriers and retail staff. It minimizes the chance of coronavirus infection, even if one of these people is infected.

At the same time, CIT services still have no need to adjust their schedule to customers, and retail chains staff has no need to wait for them if they late. Their paths may not intersect at all.

2.   The CIT-service visits you more seldom

Another way to reduce the risk of virus transmitting is to reduce the total number of CIT collectors visits. Some ADM and ATM models can store up to 10-17 thousand banknotes. This allows you to delay the CIT service visits for several days.

In its turn, when increasing the period between CIT collectors visits the company gets an opportunity both to reduce the risk of its staff infection and to save on CIT service visit rates and costs.

3.    Funds are crediting to your account instantly

The other important benefit of remote cash capture is the instant crediting of deposited funds to the account. In a situation when CIT couriers routes can be restricted due to quarantine this benefit becomes a key one.

All revenue collected at points of sale will be credited to the commercial organization account in a matter of minutes and does not depend on the work of the CIT service and its couriers’ schedule. Getting money into the account will allow the company to complete all the financial operations necessary for its business: salaries, taxes, suppliers settlements, etc.

To learn more about remote cash capture solution for ADMs or ATMs, please, contact your BS/2 representative.

Šaltinis: Penki kontinentai
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Joining Forces: BS/2 and ASHBURN International Take Partnership with SUNMI to a New Level at GITEX 2024

BS/2 and ASHBURN International, part of Penki Kontinentai Group, participated in GITEX GLOBAL. more »

The Penki Kontinentai Group Recognizes Liberty Bank as a Leader in Digital Innovation in the EMEA Region

JSC “Liberty Bank” has been awarded a prestigious honor by The Penki Kontinentai Group for its leadership in banking innovation more »

"Penki Kontinentai Group" opened an office in Spain

On 24 May 2024 in Alicante was registered the company PENKI KONTINENTAI ESPANA. more »

Strategic session of the "Penki kontinentai" group of companies: exchange of experience and plans for further development

Penki Kontinentai Group employees attended the annual strategy session held in Vilnius from January 22nd to 26th, 2024. more »

ASHBURN International and Rietumu Bank will collaborate to improve acquiring services in the Baltics and EU

This collaboration represents a significant advance in payment services in the European Union. more »

BS/2 has received awards from Diebold Nixdorf for outstanding collaboration results

The BS/2 delegation attended the annual Banking Partner Summit organized by Diebold Nixdorf in Indonesia. more »

BS/2 Makes a Ukrainian Girl's Dream Come True

For the first time, the Lithuanian national cheerleading team achieved podium placements at the European Cheerleading Championship. more »

Ashburn International Readies to Launch Two New Products on The Polish Payments Market

As a result of attending the XI Cashless Congress in Warsaw, several agreements were reached with Polish cashless payment operators concerning ASHBURN International's products. more »

BS/2 and Modern Expo plan to increase the supply the innovative retail equipment to the Baltic States

Together with BS/2, the Ukrainian supplier plans to expand its presence in the Baltic. more »

Penki kontinentai group participates in DUOday for the third year

The Penki kontinentai group of companies has joined the initiative of the social employment agency SOPA DUOday" for the third year in a row. more »