BROOKFIELD, Wis. — QuotePro Inc. and Fiserv Inc. have announced a partnership that is facilitating faster, next-day availability of funds and helping mitigate security concerns for businesses that accept payments in cash.

QuotePro Kiosks are self-service machines that offer a complete cashiering solution to dealerships and other businesses that accept payments via cash, check, and credit and debit card. Adding Fiserv’s CorPoint cash-management solution captures cash transaction data from the kiosk, enabling banks to provide provisional credit for cash deposited at a business location, executives said.

“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 the business’s bank account, the provisional cash capability enabled by Fiserv technology allows for next-day availability of funds,” said Marco Freudman, CEO of QuotePro. “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.”

2017 NIADA Quality Dealer of the Year winner Texas Auto Center is one of the first businesses to roll out the new capability.

“We love our QuotePro Kiosks because they help eliminate the need for staff to handle cash, reduce errors and security concerns associated with cash payments, and they can make change. Adding provisional cash services makes it a complete solution for us,” said CFO Mona Rodriguez. “It substantially reduces our cash risk and improves availability to next day. We can reduce the frequency of armored car pick-ups and still have access to our cash flow.”

“For many retail businesses, cash is the dominant form of payment and innovations in self-service and technology help reduce the burden of managing cash payments,” said Pat Korb, president of Financial & Risk Management Solutions at Fiserv. “Faster access to funds, reduced overhead and enhanced security are key benefits for businesses, and consumers appreciate the flexibility and convenience to pay in the way they prefer.”

Originally posted on Auto Dealer Today

About the author