News & Events

News Hub

Dual-purpose cash and cheque scanners improve transaction infrastructure

Dual-purpose cash and cheque scanners improve transaction infrastructure

Dual-purpose cash and cheque scanners are needed by businesses of all kinds. The support and strength they lend to a foundation of accurate money handling can help organizations in all different industries and spaces of life.

This fact may never be more present after recent news reports have suggested the Canada Post may be considering a move to reconstitute postal banking for underserved rural communities. This possibility that post offices may have to handle banking services should have them investigating the uses a dual-purpose cash and cheque scanner can have in that situation. Particularly because of their efficiency and effectiveness, such tools are integral to businesses and entities just starting to scale up their transaction infrastructure.

Dual-process cash and cheque scanners get operations started

CBC recently reported the Canadian Union of Postal Workers is petitioning Canada Post and the government to bring back postal banking as a way to better serve rural communities that may not have as convenient access to traditional banking locations as other populations. CBC said the form of banking has been previously used in Canada, but not in 50 years.

"It certainly would be a win-win for communities," said Brenda McAuley, president of the Canadian Postmasters and Assistants Association, another union supporting the movement. "Postal banking has been successful in many countries. To give you an example, the U.K., France and Switzerland[.] ... The solutions can certainly be tailored to fit the needs of people within their own communities who are currently under-serviced by banks."

However, even with the bank lobby being resistant to postal banking, the importance of dual-purpose cash and cheque scanners will hardly diminish. McAuley recounted to CBC also that rural citizens without banking access have to cash cheques somewhere and usually do it at local stores. Even if post offices do not become quasi-banking branches, these communities need places to do it and people who they trust to do it. Stores that might fit into this situation should consider the benefits of adding dual-purpose cash and cheque scanners to reinforce their transaction infrastructures.

March 20, 2017