Well-managed cashless transactions where data is captured in a consistent manner represent a major business opportunity for retailers. In addition, as instant payment systems proliferate there is further opportunity to reduce working capital requirements by cutting settlement timelines.
One of the most innovative and far-reaching technologies of recent years is the Internet of Things (IoT). UniCredit discuss what can be achieved by combining the IoT with innovative payment capabilities, leveraging virtual accounts and blockchain technology.
ING introduced its Virtual Cash Management (VCM) solution over 1 year ago. VCM is an award winning, visionary concept, outlined here in more detail by Dick Oskam, Global Head of Sales, Transaction Services for ING who also explains some of the benefits for customers.