Cash deposits in tobacconists now possible

The cash-in-transit company is diversifying its business by enabling customers of the Vybe and Shine neobanks to make cash deposits at tobacconists. Individuals can also benefit from a new service enabling them to pay for purchases over the Internet at a tobacconist's.

An active service in 1,500 tobacconists

While buying a pack of cigarettes or playing the lottery, the French will be able to deposit cash into their bank account. This new service offered by Brink's, the cash-in-transit company, is available in 1,500 of the 23,000 tobacconists in France.

The solution developed by Brink's has been approved by the Autorité de contrôle prudentiel et de résolution (ACPR) and will initially be aimed at customers of the Vybe and Shine neobanks. Depositing cash at a tobacconist' s is relatively straightforward: after receiving a barcode, the customer simply goes to a tobacconist's near his or her home or place of work to deposit the cash. The tobacconist will then verify your identity and proceed to cash in the bills.

Thanks to partnerships with Vybe and Fintch, which offers a payment account for individuals, Brink's hopes to attract retailers to deposit their daily takings. Ultimately, the cash courier does not rule out working with traditional banks to bring this service to a wider audience. However, the question of transaction security remains, particularly with regard to the origin of deposited funds.

Paying cash for online purchases

Brink's Payment Services also offers private customers the option of paying for their online purchases in cash. When confirming payment, simply select the option offered by Brink's. The buyer then receives a QR code linked to the transaction, which can be redeemed at an affiliated tobacconist's to pay for the purchase in cash and trigger delivery of the product. This solution targets unbanked individuals, vulnerable populations and teenagers without bank accounts.

Several merchants have already expressed interest in this service. These include Mutuelle assurance de l'éducation (MAE), whose customers will be able to pay their membership fees in cash, and Cash Converter, which specializes in the purchase and resale of second-hand items paid for mainly in cash.

As the number of bank branches and cash dispensers dwindles, more and more alternatives are emerging, such as those presented by Brink's. This is a key issue for mayors wishing to maintain the attractiveness of their communities, as well as for financial players who don't want to lose the hyper proximity game.