Mobile money transfers, together with other facets of branchless banking, have the potential to increase financial inclusion while reducing the cost of remittances, increasing savings, and providing a new revenue stream for banks and providers of mobile money transfers.
FSS eCash is a channel agnostic, end-to-end money transfer solution that provides security along with a range of tangible benefits. The beneficiary is able to use the Bank’s ATM network without having to use any card for withdrawals.
The product also facilitates partial withdrawal option and auto reverses un-withdrawn amount to remitter’s account after predefined time limit.
- Enables beneficiary to withdraw funds immediately from ATM using mobile device
- Transaction alerts to the remitter and beneficiary through SMS
- User friendly GUI to configure the application details; can be edited (add/modify) by the bank administrator
- Provides transaction Load-Balancing using powerful parallel Transaction Processing Engine (TPE) for better throughput
- Allows extensive audit and tracking
- Easily integrates with any financial transaction switch or host
- Auto reverses un-withdrawn amount to remitter’s account
- Reduces cost of service to customers
- Offers additional revenue channel to banks
- Low cost intra bank remittance platform
- Improves bank’s brand image and customer loyalty