Absa launches on-demand cash collection services for businesses

Detailed summary

Absa CashFlow allows businesses to request secure cash-in-transit collection within two hours, with same-day deposits and real-time tracking.

Absa Business Banking has launched Absa CashFlow, a first-in-market, on-demand digital cash management solution that enables businesses to request a secure cash-in-transit (CIT) pickup directly from their premises within two hours.

Designed for businesses that handle cash frequently, the service is accessed through a dedicated mobile app, allowing users to request cash collections for deposits, order change, and track the movement of cash in real-time.

By removing the need to visit a branch, the service offers a safe, convenient and efficient way to manage cash while allowing day-to-day operations to continue uninterrupted.

Developed specifically with high-volume retail cash environments in mind, Absa CashFlow gives businesses greater control and visibility over their cash.

In addition to cash collections for deposits, the solution also enables businesses to place cash orders. Change is prepared in the requested denominations and delivered within two hours of request.

Through the app, businesses can digitally track their cash at every stage of the process, providing full visibility and control.

Digitising and automating key cash processes helps businesses reduce handling losses, lower insurance and operational costs, and improve cash-flow management.

It also unlocks time savings for store managers and supervisors while reducing the risk associated with holding significant amounts of cash on site.

This cash management offering is particularly suited to businesses operating in high-frequency or high-volume cash environments, including retailers, franchise groups and SMEs.

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