Cash remains an important part of the payments landscape, so access to cash can be a powerful tool for a variety of programs.
In an emergency when payments systems are down – the aftermath of a hurricane for example – cash can keep an economy going and ensure that people get their needs met as rebuilding starts. Incentives programs can use cash as an instant motivation. And cash can make it easy to transact without concerns about acceptance.
ATMs have been an important tool for debit card holds to get cash and make deposits, but mobile technology makes it possible for anyone to use an ATM if they can receive text messages. It isn’t even necessary to use a smartphone in many cases. So, cash access can extend to anyone with a mobile phone.
In the latest episode of the Innovative Payments Pod, we talk with PIN4 and its subsidiary, HalCash International, about how cardless transactions can help payments companies deliver services to their customers.
PIN4 is working with IPA member MasterCard on its MasterCard Cash Pick-Up service in the United States and working with a variety of companies in countries like Spain to deliver instantly available cash payments to individuals.
They have used their technology for incentives and gaming payments, but have plans to make it available for use cases like disaster payments and helping companies suffering system outages.
If you want to learn more about PIN4 and the Mastercard Cash Pick-Up capability, you can visit their Web site at: http://pin4.com/
If you want to stay on top of new developments in the industry, plan to attend the Innovative Payments Conference in Washington DC, April 6-8. Learn more and register.
Interested in becoming an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org to learn more.
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