CashFlows Account Revolutionises E-payments for UK Businesses

LONDON, February 16, 2012 /PRNewswire/ --

CashFlows has launched the first account in the UK that allows businesses to make, receive and manage electronic payments from a single account, giving account holders instant access to their money whenever it is needed.

The introduction of CashFlows Account marks an unprecedented shift in the way that businesses can manage all their electronic payments.

Previously, businesses have had to wait for customer payments to move from their merchant account into their business bank account, creating a delay in the access to their money. CashFlows Account gives businesses a single account into which payments are received and accessed directly - removing the need for separate merchant and business bank accounts. Payments in and out of the CashFlows account are instant, giving businesses full access,  control and use of their money, all of the time.  

The new account offers a fully integrated payment management service, saving businesses the time and expense of setting up multiple services with different banks. These currently include:

• Use of a full range of payment channels including online, mobile, mail and telephone orders, voice pay and e-invoicing.
• A CashFlows Account Business Card which allows businesses to pay suppliers, purchase goods direct from their account and issue them to staff for payroll use.
• A range of other services to support businesses including foreign exchange and an online management system enabling you real time understanding of your cash flow.

Nick Ogden, Chairman and CEO, CashFlows, said:

"Being able to access your money whenever you need it is vital for businesses. CashFlows Account is the new generation of business account which will make it quicker, cheaper and more straightforward for businesses to make, manage and receive their electronic payments.

"Mobile and online technology is evolving at an incredible pace, and so is the way that consumers are paying for goods and services. Businesses are constantly innovating to meet consumer demand, but if the way they manage their payments is slowing them down it takes their focus away from doing business. CashFlows is committed to payments innovation to help businesses manage their payments and transactions in a way that hasn't been possible before, so they can flourish and grow. Further services are already planned to be added to the CashFlows account during 2012."

For further press information and interviews with CashFlows spokespeople please contact:

Notes to editors:

• CashFlows is operated by the Voice Commerce Limited, based in Cambridge, England, providing a complete range of electronic payment processing services to a wide range of businesses.

• CashFlows is the leading provider of e-commerce & m-commerce payment solutions for businesses in the UK. Many of the innovations and standards used in internet, mobile and e-money payment systems were developed by CashFlows, including Internet and Mobile Payments Guarantees, protecting businesses and cardholders from fraud.

• As a member of Visa and MasterCard CashFlows directly approves merchant accounts, and provides a market leading range of ancillary services that helps businesses process all inbound and outbound payments efficiently.

• Voice Commerce Limited is regulated by the Financial Services Authority under the Electronic Money Directive register number 9000006 for the issuing of e-money and provision of payment services and holds a consumer credit licence 624404/1 is a member of SWIFT, IBANN CASGGB2L and a member of the UK Payments Council.

SOURCE CashFlows