A new digital cash service offering fast-tracked payments for emergency use is being pioneered for local councils and charities through The Post Office.
The digital concept has been developed by Eastbourne-based security-print company Zunoma. It provides cash relief to people facing financial hardship without the need for a bank account. Currently, eight councils across the country use the Payout NOW! service.
Payout NOW! was developed with the Post Office to allow individuals to withdraw emergency cash. It allows local authorities, charities, and businesses to send a payment digitally through an emergency barcode via SMS, email, or a printed voucher. The cash is immediately ready for collection at any one of 11,500 Post Office branches.
Steve Hancock, Director of I.T. and Digital Services at Zunoma, said: “In this day and age we are increasingly reliant on digital accessibility and because of this, digital security is vital.
“The Payout NOW!process is simple, secure and flexible, with the ability to give anonymity to the payee. The emergency barcode is a protected solution for councils to provide funds to those facing any emergencies, be it medical, homelessness or child support payments. As innovators we are proud to offer this service across the country.”
Andy Locker, Commercial & Product Manager at The Post Office, said: “The Post Office Payout service is a cash payment gateway specifically designed to simplify the sending of emergency cash payments to vulnerable people, and is commonly used by businesses to issue payments, incentives, energy top-ups or refunds to customers, without the associated time and cost of issuing cheques or organising payment transfers.
“Zunoma helped to develop and host Payout NOW! which is an extended version of Payout that enables local authorities to digitally release funds without the need of paperwork, which makes it more accessible to the individual.”
The Post Office Payout/ Payout NOW! service uses identity verification, single use barcoded vouchers, and unique reference codes that provide real time connectivity to any Post Office counter system.
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Rebecca Morpeth Spayne,
Editor, Security Portfolio
Tel: +44 (0) 1622 823 922