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DIGITAL CASH COLLECTION:
£Currently, debit card payments using a point-of-sale (PoS) machine can take up to 36 hours to process. This often leaves a retailer with periods where they experience a huge discrepancy between actual sales and financial revenue, which can cause problems for small businesses. With a combined spend of over £65 billion by UK cardholders, that’s a lot of money that goes unprocessed – sometimes for days at a time! However, despite the delays, retailers continue to use out-dated PoS systems because until now, nobody has come up with a sufficient, working replacement.
With the RaPay system, all payments clear within minutes, providing the recipient with instant, guaranteed cash-in-the-bank on all completed sales. In addition to this, the RaPay system negates the need to rent expensive PoS machines and can be implemented anywhere that has an internet connection. This saves a considerable amount of money for a retailer or small business by removing all rental and consumable costs associated with PoS machines.