While InComm is most well known for being a prepaid card distributor, the company has been transforming itself into a broad-spectrum payments company, and that transformation continues with its latest product announcement.
From InComm’s press release:
The Cashtie API coupled with InComm’s global retail network allow 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.
The move by InComm could put it in competition with other financial service providers and change the way that retailers offer financial services. However, the appeal of this application to retailers could be limited by the amount of training necessary for clerks and the amount of time that these kind of payments would take from their primary business of selling products off the shelf.
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