Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that NationalLink Incorporated is using Fiserv technology to simplify cash management for merchants.
With the integration of CorPoint® cash supply chain management software from Fiserv, the NationalLink cash management platform can now support all smart safes, regardless of manufacturer or location, and provide a centralized view of all cash transactions. The NationalLink cash management platform is available via commercial banks and directly to large merchants.
Smart safes are used to accurately count and validate in-store cash payments, and they are typically only able to run on proprietary cash management software provided by their manufacturer. This can negatively impact efficiency for merchants, especially large enterprises that rely on smart safes from several different manufacturers, because staff have to maintain separate software subscriptions and spend significant amounts of time toggling between systems to run reports and access deposit information.
NationalLink leverages CorPoint, which can accept information from any smart safe regardless of manufacturer, to consolidate input from different smart safes into a single platform and give merchants a holistic view of their cash situation. The platform provides real-time access to audit-level views of all cash deposits, balances and pickups. Users can also leverage customizable settings to segment data according to cashier, denomination, location and other parameters for improved decision making and streamlined reporting.
“The proliferation of smart safes that rely on manufacturers’ software has hindered the ability for businesses to realize the full potential of these devices,” said Sam Kandah, president of NationalLink. “With Fiserv technology we can unify data from different smart safes and across merchant locations to provide the visibility merchants need to manage cash effectively.”
“For many consumers, cash remains a preferred form of payment, but cash is labor-intensive for merchants to manage,” said Shawn Holtzclaw, senior vice president and general manager, Fraud, Risk and Compliance, Fiserv. “Merchants are actively seeking ways to improve cash management efficiency, and NationalLink is meeting this demand with a single platform that provides a holistic, hardware-agnostic view of smart safe transactions.”