normal text medium text large text print

Innovation around the World

Poland

Cash Replacement service – A new fully mobile and automated settlement process

The challenge:
To replace cash payments from distributors to stores.

The innovation:
A new mobile settlement solution that enables drivers to use their mobile phones to transmit invoices to the store owners/managers when delivering goods. In receipt of the invoice, the store owners/managers can make electronic payments on the spot via their own mobile phone, meaning no cash changes hands.

Benefits for the Distributors:

  • Costs savings – Transaction interchange is cheaper than cash collection costs
  • DSO reduction – Funds and information delivered much faster
  • Safety – No cash carried by the driver
  • Immediate payment of the amount due

Benefits for the Retailers

  • Avoiding problems associated with cash payments – Reducing the risk related to human errors (error at money counting, etc.) and the risk of a random event (theft, loss)
  • Immediate payment of the amount due
  • Safety resulting from transferring the responsibility for "delivering" money from the supplier (driver) to the bank
  • Safety resulting from authorization with the use of a unique PIN code
  • Added value capabilities offered through the mobile solution (e.g. Paying for parking tickets via mobile)

The result:
A new mobile payment mechanism, bringing multiple benefits to retailers and distributors as it offers a safer more efficient process.