US-based developer of prepaid card and transaction technologies InComm has launched Cashtie, an application programming interface (API) which links retail cash payments via an existing point-of-sale (POS) system to software applications. The Cashtie API coupled with InComm’s global retail network allow ecommerce and bill payment software providers to add a cash payment option for their customers at POS terminals.
Consumers who prefer to pay in cash when purchasing a product online or paying their utility bill now have the option to do so by printing out a barcode or displaying it on their smartphone and taking it to any cash register within an InComm-integrated retail location. Providers are notified in real-time once a service or product is paid for at the cash register, and they receive the payment location.
“We are opening up InComm’s prepaid rails to service providers, allowing them to instantly connect any of their applications to a retailer’s cash register. With Cashtie, partners can provide companies the ability to let consumers pay in cash for their utility bills, loans, online purchases and more at nearby retail locations. Cashtie customers can leverage InComm’s global retail network, turning nearly 400,000 points of retail distribution into a cash payment location with no additional POS integration required,’’ says Thomas Cornelius, SVP at InComm.
“Currently, the biggest obstacle for companies wishing to build a cash payment network is creating relationships with retailers and then integrating with their POS systems – a process that can take years. Cashtie customers, on the other hand, can leverage InComm’s already established retail network. Within as little time as a few weeks, software service providers seamlessly give companies the ability to offer their customers more flexibility and convenience in how they pay for products and services while retailers increase foot traffic in stores,” adds Cornelius.