INCREASE IN-STORE TRAFFIC
Many South African consumers are looking for the convenience of sending and receiving money without having to maintain a bank account or make trips to the bank. Ecentric Payment Systems provide a Money Transfer service that lets you offer money transfers across all your stores countrywide. Our Money Transfer service is a fully hosted solution for in-store sending and receiving of money. This service enables your business to generate additional revenue through increased store traffic, money received being spent in store, and improved customer loyalty
QUICK AND CONVENIENT MONEY TRANSFERS
Retailer provided money transfers are trusted by millions of South African consumers who are looking for quick cash-in and cash-out at trusted locations. Our Money Transfer solution is a real-time service that enables a customer to send money from any of your retail locations and have the receiver redeem the money immediately from any of your stores connected to the money transfer service network.
A fully hosted service
We authorise the sending and redeeming of money transfers and provide management and reconciliation of stored value for each customer’s money transfer.
Pin secured service
When a money transfer is initiated, the sender selects a secure pin which only they know. The sender communicates the unique money transfer number and pin to the person they want to receive the money transfer. The receiver can only redeem the money transfer on successful entry of the unique money transfer number and secure pin.
With this service, customers can initiate a money transfer at point of sale by simply providing their ID number, amount to be sent and a secure pin. This generates a unique money transfer number in the money transfer host system.
Receivers can cash-out a money transfer at your point of sale by providing their ID number, the money transfer number and entering the associated pin.
Our Money Transfer service has been designed to cater for the Financial Intelligence Centre Act (FICA) compliance and Know Your Customer (KYC) policies and is approved by the South African Reserve Bank.
We provide comprehensive operational reports, including transaction detail reporting, message detail reporting and transaction management features.
With this service, you can access user information, usage limits (in accordance with FICA), user history and user management functions.
A variety of management reporting is provided with this service, such as transaction summaries by store and business period, top senders, and top receivers. Additional reports include reconciliation reports, Anti-Money Laundering reports, suspicious transaction reporting and daily settlement reports.
- Money transfers are a destination product for consumers, generating additional in-store traffic which results in more purchases.
- New revenue stream from money transfer service.
- Money transfers have a high return per square meter in-store, with no investment in management of stock.
- Easy implementation into your existing point of sale payment processing infrastructure.