After offering white-label cash dispensers managed by local authorities, cash-in-transit operator Brink's continues to diversify, with the launch of a service enabling private customers to pay for their online purchases in cash at partner tobacconists. Customers of certain neobanks will also be able to deposit their cash in tobacconists as they would in a bank branch.
Pay for online purchases in cash at the tobacconist's
The tobacconists already enable customers of the Nickel neobank, a subsidiary of BNP Paribas, to open a bank account in just a few minutes at a kiosk. They also host cash dispensers installed by white-label money transporter Loomis.
From now on, tobacconists will also be able to allow private customers to pay for their online purchases in cash, thanks to Brink's Payment Services, the new offering from money transporter Brink's. The cash payment option can be selected at the checkout stage.
Equipped with a QR code linked to the transaction, the purchaser must then go to a partner tobacconist's to pay for the order in cash, triggering shipment.
Brink's is targeting several types of audience with this new offer, such as financially fragile populations who use cash more often, people who don't have a bank account, especially younger people, and shoppers who are very reluctant to give their banking information online.
Depositing cash into your bank account at a tobacconist's
Brink's also enables customers of certain neobanks to deposit money into their bank account by visiting a partner tobacconist.
Brink's Payment Services' first neobank customers include Vybe and Fintch. The Vybe neobank specifically targets teenagers aged 13 to 17. As for Fintch, it offers bank accounts and credit cards for both individuals and businesses.
Even though the use of cash is steadily declining, it hasn't disappeared, and neo-banks, which don't have street-front branches, are still encountering reluctance on the part of some members of the public.
Neobanks aren't the only ones turning to Brink's solution. Since last month, school insurance specialist MAE has been using the service to enable its members to pay their subscriptions and premiums in cash.