Cash Remittance

powered by Wincor Nixdorf

Are you currently offering a mobile money transfer solution or are you planning to enter this fast growing, multi-billion market? Either way, Sicap Cash Remittance solution will provide mobile network operators with a distinctive competitive advantage: Sicap Cash Remittance puts the operator in control of the entire value chain from cash-in to cash-out.

Any mobile subscriber wishing to send money can directly proceed to a Cash Remittance ATM and make a cash deposit. Alternatively, a deposit can be made by charging a prepaid or postpaid account or by debiting an m-wallet using a variety of channels such as SMS, USSD or Internet. The specified recipient will then be able to withdraw the cash from operator owned or other participating ATMs simply by entering a service generated one-time access code received on his mobile phone as well as a secret withdrawal code which will have been communicated by the sender.

The cash-to-cash model of money transfer is deeply entrenched, accounting for close to 90% of the remittance market, and of primary importance for the unbanked. To transfer money end-to-end, customers need a possibility to pay in and pay out real money, i.e. bills and coins. The operator billing infrastructure constitutes a secure circuit for such money transfers.

With Sicap Cash Remittance, mobile customers will be able to send money cash-to-cash. The money sender will choose Cash Remittance from an operator branded ATM touch screen menu. A user-friendly interface will ask the sender to enter the phone number of the recipient, the expiry date and the withdrawal code. Once that`s done, the sender will insert the cash amount to be sent. In order to ensure maximum security, the sender will communicate the withdrawal code directly to the recipient using any available communication channel.

The recipient will receive an SMS with a one-time access code generated by the Sicap Remittance Server. Together with the withdrawal code, the recipient can then withdraw the amount in cash from any operator owned Cash Remittance ATM or any other participating machine.

Sicap Cash Remittance will allow you to
• gain a foothold or improve your offering in the multi-billion, fast-growing mobile remittance market
• enable easy money transfers without the need for a bank account or card
• dramatically reduce domestic and cross-border commission charges to encourage
  low-denomination transfers