Akbank POS Blocked Transfer Qorus-Infosys Finacle Banking Innovation Awards 2024

Merchants could not access their POS receivables due to long blocking periods. Akbank POS Receivable Transfer project was implemented in order to solve liquidity problems of customers and enable them to finance themselves with their POS receivables more easily. Akbank POS Blocked Transfer is a state-of-the-art payment solution that aims to safely send the pending POS receivables of our blocked member businesses to businesses. A new payment solution has been developed for customers by seamlessly integrating PosPay's innovative calculation algorithm with Akbank Mobile and main banking systems.

In line with this goal, a collaboration was made with the PosPay company and the algorithm developed by the company was integrated with Akbank Mobile and banking solutions, and as a result of this cooperation, a new payment solution, Akbank POS Blocked Transfer, was developed.

Within the scope of the project:

• Customers who want to create an Akbank POS Receivable Transfer can view the low-cost options and choose the most suitable offer or create a new transfer, thanks to the algorithm behind it.

• Customers can combine transactions of more than one day to transfer large amounts, and POS Blocked Transfers can be forwarded to other recipients.

• Fast money transfers are carried out so customers can finance their supply chains.

• Within the scope of the solution, early conversion of POS Receivable Transfers into cash before maturity is provided. This provides customers with flexibility in managing their receivables.