New InPost Finanse service: "Contract Plus Cash"

"The Plus Cash deal is a development of the popular Smart Courier method whereby the courier delivers the contract to the recipient and returns the signed version to the sender. From now on, thanks to the new service, an InPost employee will additionally be able to immediately pay out funds to the person who signs the document. Thus, the 'Contract Plus Cash' has the potential to significantly expand the offer of banks and financial institutions, enabling them to deliver loans and cash loans in an exceptionally convenient way.

"The implementation of the 'Plus Cash Contract' service starts with the sender forwarding the contract (e.g. a loan) electronically to InPost. The next step is the automatic distribution and subsequent printing of the document, which is sent via the hybrid mail system to one of the operator's 180 branches. The electronic documentation goes to the branch that is geographically located closest to the recipient's place of residence." - explains Katarzyna Olejniczak, Product Manager at InPost.

After these stages, an InPost representative contacts the recipient to arrange a convenient date for delivery of the contract. On site, an employee of the logistics and finance operator verifies the data, confirms identity and collects signatures on the documents indicated by the sender, after which the requested amount (e.g. a loan) is paid in cash.

The sender receives the signed documents back. He or she can also use the option of physical archiving - in which case InPost will make the images of the agreements signed by the recipient available - in a suitably secured way - via one of the functionalities of the hybrid mail handling programme (available on the website).

"The Plus Cash Agreement thus guarantees both parties a fast and convenient way of concluding and finalising contracts while maintaining the highest security standards for the distribution of cash from sender to recipient."

"The service we are introducing is a novelty on the Polish money transfer market. It is certainly an interesting solution for people who want to use, for example, a cash loan in a comfortable way. For institutions granting credits or loans, in turn, it is an excellent way to make their offer more flexible and reach out to a new group of customers who, for example, do not have a bank account". comments Marek Stanisławski, InPost Finance's implementation manager.

"As an experienced player that has been operating in the financial services market for years, we see a lot of potential in the 'Contract Plus Cash' solution. We assume that we will soon expand its reach by establishing a number of key partnerships." - adds Łukasz Kułakowski, Managing Director of InPost Finance.

InPost Finanse - in Q4 2014 - once again significantly increased its financial services offering. Not so long ago, it significantly expanded, among other things, the range of money transfer avocations. Thanks to the partnership agreement with PKO Bank Polski, remittances delivered by the operator are advised to almost 2,300 new points located in own and agency branches of the largest Polish bank throughout the country.

InPost Finanse operates in the market as an entity with the status of a national payment institution. It is granted by the Financial Supervision Commission on the basis of strict guidelines. Only institutions that are able to ensure an appropriately high level of security, meet a number of legal, financial and technical conditions, as well as having the necessary experience and education - appropriate to the type and scope of activity - receive KNF authorisation to operate as a domestic payment institution[ 1 ]. Among other things, this has enabled the company to operate cash points in tax offices. The first such outlets have already been opened in two US offices in Zielona Góra, as well as in the US in Lubliniec, the US in Myszków, the 2nd US in Gdynia, the 2nd US in Gdańsk and in the Zak³ad Gospodarowania Nieruchomościami m.st. Warsaw in the Bielany district.

InPost Finanse is planning to introduce similar points in further Polish cities and public institutions - in addition to tax offices, cash services will eventually also be available in: city and municipal offices, courts and property management companies. Tender procedures are currently underway.

The services - provided by InPost Finanse in its capacity as a national payment institution - include, among others: accepting cash deposits and making cash withdrawals from a payment account, executing payment transactions and enabling the execution of payment transactions initiated by or through a merchant.

InPost Finanse has been cooperating closely with public institutions in the delivery of remittances for a long time. Entities that co-operate with the financial operator in this regard include: regional branches of the Agricultural Social Insurance Fund (KRUS), municipal offices, social welfare centres, as well as Benefit Centres. In total, the company delivers around 100,000 such benefits per month.

Part of the Integer.pl Group, the company is also a long-standing provider of insurance services and products. InPost Finanse cooperates in this area with leading market players, which include: Generali T.U., LINK4, Liberty Ubezpieczenia and Towarzystwo Ubezpieczeń Wzajemnych.

The company - on a large scale - also provides outsourcing of settlement and transaction processes. In this respect, it provides services to, among others, the largest telecoms in Poland.