Contribute to Financial Inclusion with Money Transfers

Electrum’s money transfer platform links banks or money transfer operators with retailers to enable digital and cash-based person-to-person transfers.

Money transfers account for 14% of South Africa’s consumers’ spend, and is the third most widely used product, in the value added service market. Gain your share of this market while making your customers’ lives easier by connecting them to the money transfer ecosystem.

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Banks or Money Transfer Operators

Position money transfers as a core part of your customers’ digital experience and expand transactional revenue outside of traditional payments.

Benefit from Electrum’s integration to SA’s three largest retailers to accept pay-ins and cash-outs. 

Connect your digital channels to a turnkey solution for the creation, management and redemption of orders.

Banks’ Customer Journey

Your customer wants to send cash to friends and family but they don’t have a bank account to transfer money to. Your money transfer service is their solution.

Your customer creates an order to send money. This can be done from their banking app, at your ATM, or at a retailer partner. They send the PIN and reference number to the recipient.

The recipient receives the money transfer order PIN and reference number.

The recipient can go to a retailer to accept the cashout from their POS device.

The recipient can go to a retailer to accept the cashout from their POS device.

Both the recipient and your customer are happy with the easily completed money transfer order!

Retailers

Grow your transactional revenue.

Benefit from increased footfall and in-store cashouts.

Connect your point-of-sale to the leading domestic and international money transfer operators via a single interface.

Retailers’ Customer Journey

Your customer wants to send cash to friends and family but they don’t have a bank account to transfer money to.

Your money transfer service is their solution!

Your customer creates an order to send money, either paying the money in at your POS or via your mobile app. They send the PIN and reference number to the recipient.

The recipient receives the money transfer order PIN and reference number from the sender.

The recipient can accept the cashout at your POS, at an ATM in your store, or into a mobile wallet.

Both the recipient and your customer are happy with the easily completed money transfer order!

Make profit from money transfer and other value added services.

Download the 2020 VAS report to learn more.

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