BLUbeem™ by Brink’s® - Digital Cash Payment Solutions for Merchants

Rhea-AI Summary

The Brink's Company (NYSE:BCO) has launched BLUbeem, a new digital cash payment solution aimed at enhancing cash processing similar to debit and credit transactions. Customers can make cash deposits using a mobile app linked to a secure device at their site, with funds credited to their chosen bank account. The company plans to integrate BLUbeem into point-of-sale systems, targeting the estimated 1.6 million U.S. retail locations lacking effective cash solutions. This initiative is expected to streamline cash handling, improve fund accessibility, and reduce transaction fees for merchants.

Positive

• Launch of BLUbeem digital cash payment solution expected to enhance cash management.
• Potential to capture market share with 1.6 million U.S. retail locations lacking cash handling solutions.
• Partnerships with digital payment providers could create new revenue streams.

Negative

• None.

New brand signals company’s digital evolution
Integrating new digital cash payment solutions with digital payment providers and POS systems

RICHMOND, Va., Dec. 16, 2021 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, announced today the launch of a new product brand, BLUbeem by Brink’s. BLUbeem is a digital cash payment solution that makes processing cash fast and easy, similar to debit, credit and other digital payment methods.

With BLUbeem, Brink’s places a secure, tech-enabled device at a customer’s site. The customer registers cash deposits using the BLUbeem mobile app, and places cash into the onsite device. Brink’s digitally confirms that the deposit was made, and provides credit for that deposit to any bank account of the customer’s choosing. Brink’s then picks up the cash at a later time that is convenient for both parties.

Brink’s is partnering with digital payment providers to offer BLUbeem as part of a comprehensive cash and card payment solution “bundle.” By integrating digital cash management, these payment providers can now offer their customers enhanced, real-time visibility of cash and the ability to make on-site cash deposits that settle just as quickly as digital payments.

In 2022, Brink’s plans to integrate BLUbeem into point-of-sale (POS) systems to offer merchants a comprehensive solution for all payment methods directly inside the platform user interface. This gives partners a new revenue stream from cash by offering a total payment solution to their customers.

Rohan Pal, chief digital officer, said: “We have a tremendous white space market opportunity. We estimate that about 1.6 million U.S. retail locations do not have an effective solution for handling cash payments. By creating commercial partnerships with digital payment companies, we can leverage their sales channels to reach these merchants.

“BLUbeem gives customers quicker access to their deposited funds and eliminates labor intensive and sometimes risky trips to the bank - which is safer, more convenient and maximizes productivity of store employees. Brink’s also provides deposit credit to the customer’s bank, anywhere, from any location, so customers can consolidate cash deposits from all of their locations into a single bank account, reducing fees and other administrative expenses.”

For more information on BLUbeem by Brink’s go to blubeempayments.com.

CONTACT:

Investors:
Alex Jost – Investor Relations
ajost@brinkscompany.com or 804.289.9689

Media:
Jenna Smith
jsmith@trozzolo.com or 816.842.8111

About Brink’s

BLUbeem solutions are provided by Brink’s Capital LLC, an indirect wholly owned subsidiary of The Brink’s Company. The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 53 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.

FAQ

What is BLUbeem by Brink's?

BLUbeem is a digital cash payment solution that facilitates fast cash processing, similar to debit and credit payments.

When was BLUbeem launched?

BLUbeem was launched on December 16, 2021.

How does BLUbeem work?

Users register cash deposits via a mobile app, place cash into a secure device, and receive credit to their bank account.

What market opportunity does Brink's aim to capture with BLUbeem?

Brink's aims to serve approximately 1.6 million U.S. retail locations without effective cash solutions.

How will BLUbeem benefit merchants?

BLUbeem will simplify cash handling, provide quicker access to deposited funds, and reduce administrative fees.