ATLANTA, March 25, 2014 /PRNewswire/ -- InComm, a leading prepaid product and transaction services company, received the gold award for "Best Cash Innovation" by the 2014 PYMNTS Innovator Awards for the company's Cashtie API.
The Cashtie API coupled with InComm's global retail network allows providers to add a cash payment option for their customers - including anyone from ecommerce to utility companies - within as little time as a few weeks. To get started, providers simply sign up for the API and build their application with just a few lines of code. They can then leverage InComm's existing integrations with retailers to enable cash transaction at POS. Consumers can then pay bills by simply 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.
Key benefits of Cashtie include:
-- POS changes and expensive installations are not always required -- Retailers increase foot traffic and help drive store loyalty -- Retailer cashiers can scan barcodes as easily as they would scan an item for purchase, ensuring that the line moves along smoothly -- Providers make it easier for their customers to pay bills on time -- Consumers have more flexibility in how they make payments -- Consumers have more convenient options on where to make payments, saving them time -- Consumers have more privacy, as the Cashtie barcode is an anonymous payment trigger that does not require cashiers to ask for any personal details or discuss any late payments--they simply scan the barcode and accept payment
"This is great recognition from the industry, and validation that Cashtie offers much-needed benefits for payment providers, retailers and consumers," said Thomas Cornelius, SVP, InComm. "Many consumers today rely on cash payments, but until now there has been no easy, quick way for them to pay for their bills. We're pleased to provide a solution that not only yields big benefits, but that is also relatively hassle-free for providers and retailers to implement."
The PYMNTS.com powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about "what's next" in payments. It's where the best minds and best content meet on the web. The Innovator Awards(TM) are viewed as the most prestigious recognition in the payments industry and boast a submission, selection and voting process that is unmatched in intellectual rigor and competitive energy.
"The awards are particularly meaningful because the finalists are vetted by judges who really understand the space and are then voted on by the PYMNTS community," said Karen Webster, CEO of Market Platform Dynamics and President of PYMNTS.com, the organizer of the event. "This year's award finalists comprised the highest-caliber innovators in the industry, and I'm delighted to recognize our elite group of award winners."
InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. InComm supports more than 400,000 points of distribution and helps retailers build prepaid card destinations, connects brands with new markets and gives consumers a simple, secure shopping experience. InComm stays ahead of emerging trends by analyzing market needs and leveraging its global, innovative commerce platform, go-to-market expertise and extensive partner relationships. With 123 global patents, InComm is headquartered in Atlanta and has offices in North and South America, Europe and the Asia-Pacific region. For more information, visit www.incomm.com or follow us on Twitter at www.twitter.com/incomm.