Santander and Prosegur Cash have teamed up to launch a ground-breaking, in-store digital cash management solution.
Under the name Cash Today, this service, a pioneer in the market, can be contracted from April 19 and will allow customers to immediately get the cash they collected in their bank accounts. The initiative, which combines the strengths of two companies at the forefront of their industries, gives customers a personalized and simple product under a fixed-price lease.
Cash Today is designed to guarantee the cash merchants collect is held in a secure device and contractually insured. It mirrors the benefits of card payments so customers can have the cash the device confirms immediately in their Santander bank account.
Further more customers will be able to track all transactions on their Cash Today device in real time online, which boosts traceability and control over their businesses.
Prosegur Cash, which undertakes to collect the cash and provide change, has an exclusive Cash Today call center to solve customer queries and incidents.
The multiple benefits automating cash management brings to businesses of all sizes include reducing risk and saving time. In Spain, more cash is handed over for small purchases than in any other major economy in the eurozone.
Cash Today will target supermarkets, logistics, restaurants, service stations, pharmacies, tobacco shops and other businesses.
Policarpo Ledesma, commercial director for Iberia at Prosegur Cash, said:
“It’s crucial to offer innovative solutions in industries where cash still prevails, and partnering with a giant like Santander always guarantees success.”
Vicente Pantoja, head of cash solutions at Santander España, said:
“At Santander we strive to give our customers the best solutions to meet their needs. Our proposition helps businesses efficiently manage the cash they take in, and offers a digital solution that enables instant transfer, greater security and less time and effort, while enhancing payments at outlets in more underserved areas.”
