PayPoint launches new solution for reconciling cash and digital payments

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PayPoint has launched a new solution, Event Streamer, offering real-time notifications to businesses of all transactions.

The unique solution, which strengthens the MultiPay digital payments portfolio, helps businesses to reconcile cash and digital payments by streaming payment transactions to an organisation’s CRM system.

This will give real-time payment visibility and a single view of customer payments across all digital and cash channels, the company said.

Danny Vant, client services director of PayPoint, said they have developed the solution considering the greater need for monitoring and reacting to transactions in the current financial environment.

“A significant number of our clients requested access to real-time transaction insights to complement the end-of-day reporting they already receive, as well as improve efficiencies in the back office once payments were made. This extended beyond digital transactions to over the counter cash payments made via the PayPoint retail network,” Vant said.

“In response, we built a unique solution designed specifically to keep businesses up to date in real- time of payments made, due and overdue. Importantly, clients can benefit from Event Streamer without any onerous requirements for full API integration.”

The solution will send notifications for arrears paid, preventing collections teams wasting time on chasing payments already made. It can also expedite the reactivation of a suspended service due to outstanding arrears.