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

The demand for solutions helping to increase banks’ autonomy and retail chains’ work will go up. This opinion was expressed by the head of “Infoline-Analytics” Mikhail Burmistrov in the 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 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 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.

Simultaneously, CIT services still do not need to adjust their schedule to customers, and retail chains staff does not 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. 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 solutions for ADMs or ATMs, please, contact your BS/2 representative.

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