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By Alexandra Leonards Santander is teaming up with Prosegur Cash to launch in-store digital cash management for businesses. The new service, called ‘Cash Today,’ is designed to guarantee the cash merchants collect is held in a secure device and contractually insured. Santander said the initiative mirrors card payments so that customers can have the cash the device confirms immediately in their Santander bank account. Customers can also track all transactions on the Cash Today device in real-time. The bank said that the new service targets supermarkets, logistics firms, restaurants, distributors, service stations, pharmacies, tobacco shops, as well as others. According to Santander, in Spain more cash is handed over for small purchases than in any other major economy in the eurozone.

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