Lana Cash Launches Service Allowing Merchants to Receive Funds in Under 24 Hours
Lana Cash Introduces "24-Hour Express Payment" Service for Merchants
Lana Cash, a payment institution affiliated with Crédit Immobilier et Hôtelier (CIH Bank), has launched "24-Hour Express Payment," a new service designed to expedite the transfer of funds from card payments to merchants.
This solution enables merchants in the institution’s network to receive their payments in less than 24 hours after the electronic transmission of transaction data. This innovation significantly reduces the time between completing sales and collecting the corresponding funds.
Additionally, the service operates on Saturdays and holidays, regardless of the bank where the merchant holds their account. This aims to ensure quicker fund availability, even during periods when traditional banking processing may be slowed down.
By shortening the payment collection time, Lana Cash intends to ease cash flow management for merchants, particularly in financing purchases, paying suppliers, and covering operational expenses.
The "24-Hour Express Payment" service complements the institution’s offerings in payment acceptance, which also includes electronic payment terminals and solutions for online commerce, catering to local businesses, retail chains, and various commercial activities.
This initiative is part of a broader effort to develop payment solutions that simplify transactions and speed up access for merchants to the funds generated by their operations. This endeavor comes at a time when electronic payments are increasingly gaining traction in Morocco.
