BBVA API Market
BBVA and Vecttor, Cabify’s subsidiary engaged in managing vehicles with drivers, have entered into an alliance that saves time and provides security to the company and its drivers. The collaboration allows drivers to deposit cash collections at any BBVA ATM and Vecttor to automatically reconcile this activity from their accounts with those in the company’s system, thanks to BBVA Spain’s Reconciliation API.
In a world increasingly dominated by electronic payments, cash remains an operational challenge. Approximately 20% of Vecttor’s trips are paid for in cash. In certain cities, the figure can be as high as 30%. Handling large amounts of cash, in addition to being inefficient, exposes drivers to unnecessary risks and generates downtime, since, until now, they had to return to the company’s operational bases to deposit the money.
The agreement provides Vecttor drivers with a much more efficient and secure solution for managing cash. The Pagos Exprés BBVA service allows drivers to deposit their earnings at any BBVA ATM. This streamlined process not only reduces risk by allowing for more frequent deposits, but also saves valuable time that drivers can spend on making more trips.
The truly transformative aspect of this agreement is the reconciliation API developed by BBVA, a tool to which Vecttor’s accounting system is connected to automate the reconciliation process between cash receipts made to their account and trips taken. This integration not only simplifies the process but performs it automatically and in real-time, significantly reducing human error and improving the company’s financial accuracy.
For drivers, this solution means a substantial improvement in their workday. Being able to deposit money quickly and safely without the need for additional journeys not only gives them greater peace of mind but also increases their productivity. By reducing downtime, drivers can focus on making better use of their time and increase their daily earnings.
The alliance between BBVA and Vecttor goes beyond a simple operational improvement. This is a commitment to innovation and safety in a sector that is constantly changing. By providing advanced tools such as Express Payments and the Reconciliation API, they are building a more efficient, safe and sustainable future for Vecttor drivers, while promoting a more digitized and sustainable urban transportation system.
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