QuotePro, Fiserv partner on next day availability for cash kiosk deposits

QuotePro Inc. and Fiserv Inc. have announced an agreement that allows them to provide provisional credit for cash deposits made at self-serve kiosks, according to a press release

Fiserv cash management technology captures data from cash deposits made at the kiosk. Banks use this data to provide credit for cash deposited at the location.

QuotePro Kiosks offer compete cashiering solutions to firms that accept payments via check, cash, credit and debit card. According to QuotePro data from more than 100 business kiosks, about 70 percent of consumers paying through the kiosks choose cash payments.

«Rather than waiting for cash to be manually deposited at the bank by staff or having an armored car service to empty the kiosk, process and deposit the cash into a business’s bank account, the provisional bank capability enabled by Fiserv technology allows for next-day availability of funds,» QuotePro CEO Marco Freudman said in the announcement.

Texas Auto Center is among one of the first businesses offering the service, the release said. Chief Financial Officer Mona Rodriguez said the service helps her company reduce security concerns associated with cash and lowers the need for staff to handle cash payments.

Source: Kiosk Marketplace