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Santander and Prosegur Cash Launch Digital Cash Management Solution

Categories : Cash covers a broad range of transactions, Cash enables an immediate transfer of value, Cash facilitates budgetary control
May 5, 2021
Published in : Access to cash, Consumers, Europe
Santander and Prosegur Cash launch an in-store digital cash management solution in Spain that pays cash directly into bank accounts and saves companies time with cash management.
Communication Team

Santander and Prosegur Cash have announced the launch of an in-store digital cash management solution for companies called ‘Cash Today.’ The solution is built around a smart safe – an integrated deposit safe and note validator – and real-time credit. It is geared towards supermarkets, logistics firms, restaurants, distributors, service stations, pharmacies, tobacco shops, and others.

A Digital Cash Management Service

Cash Today is designed to guarantee that the cash collected by merchants is held in a secure device and is contractually insured. The device validates and counts the cash, which is then credited immediately to the customer’s bank account. Moreover, businesses will be able to track all transactions on their device in real-time online, which boosts traceability and control over their businesses while saving companies time with an efficient cash management process.

The initiative gives customers a personalised and simple product under a fixed-price lease.

Cash in Spain

A 2020 survey shows that most Spaniards view access to cash as important in times of crisis. Of the people consulted, 86% still see the crucial use of cash, especially during crises such as the Covid-19 pandemic. “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,” said Vicente Pantoja, head of cash solutions at Santander España.

 

 

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