News

Fiserv enables fast crediting of cash payments at self-service kiosks

November 7, 2018

QuotePro and Fiserv Inc. have partnered to facilitate faster, next-day availability of funds and mitigate security concerns for businesses that accept payments in cash. 

QuotePro self-service kiosks can provide a complete cashiering solution to businesses that accept payments via cash, check, credit and debit card, according to a press release. 

Data from more than 100 QuotePro kiosks shows that when given a choice between cash, check, credit and debit card, 70 percent of users choose cash. 

Fiserv helps provide businesses faster access to this deposited cash, the release said. Its CorPoint cash management solution captures cash transaction data from the kiosk, enabling banks to provide provisional credit for cash deposited at a business location. 

"[T]he provisional cash capability enabled by Fiserv technology allows for next-day availability of funds," QuotePro CEO Marco Freudman said in the release. "That helps eliminate risk and improves cash flow. Our business clients have been asking for this capability, and we see it as a game-changer."