Valero Employs New Cash Management Solution

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Valero Employs New Cash Management Solution


SAN ANTONIO -- Valero Retail Holdings Inc. has selected Fiserv Inc.'s CorPoint Deposit Manager cash management solution for use in its North American convenience stores and gas stations.

The division of Valero Energy Corp. will use the program to deploy an armored-carrier agnostic remote cash capture solution and select smart-safe hardware devices designed to best meet the needs of its retail stores.

According to Brian Jorgenson, Fiserv's vice president of operations, cash and logistics, Valero needed a more cost-effective automated solution and had previously used a "fragmented remote cash capture solution."

"It needed a cost-effective automated solution for easy implementation across its retail stores nationwide," said Jorgenson. "Through CorPoint Deposit Manager, Fiserv is able to provide that."

CorPoint will provide real-time information delivered from smart safes in Valero retail locations to the company's central site to ensure consistent accounting and bank reconciliation procedures are maintained.

Valero Energy owns or operates more than 1,700 convenience stores and gas stations.