Mobile Wallets

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Mobile Wallets

Mobile wallets are a digitized version of physical wallets; they are also known as Digital wallets.

Mobile wallets are used by people who would rather not carry a physical wallet when to make payments. One can pay online to purchase goods or pay for services, transfer money to a friend’s wallet or withdraw to cash from a mobile wallet.

Our Digital wallets are financial accounts that allow users to store funds, make transactions, and track payment histories. Suitable for Financial institutions, fintech companies and Ecommerce companies.

Mobile Wallets have different use cases depending on the industry, Our Solution can be customized to fit your needs.

Features and Functionalities

KYC / Customer On boarding – For compliance and user authentication.

Identity verification is necessary across many industries to protect businesses and their users from fraudulent actions is an effective way of ensuring users are who they say they are when executing various types of transactions, such as high-risk purchases, age-restricted sales. With integrations to AML and KYC systems, such as National Government registries, Thomson Reuters and Fraud detection services that are both rule based and AI driven, customers need to input their; ID number / Passport number, Legal name, Tax details, ID/passport photo and user Selfie. This module helps you authenticate customers and with AML compliance.

Wallet to Wallet Transfer

Give your customers the Flexibility to transfer money from one wallet and pay for goods and services to business wallets within the same infrastructure. Wallet transfers are segmented to; Peer to peer, Customer to business transfers, Business to customer and Business to Customer. You are able to configure a transaction fee for each transaction in the ecosystem.

Top Up Channels

We have made it easy for your Customers to top up their wallets from different payment channels. From Visa, to Mastercard, China Union Pay to JCB, Dinners to AMEX, Maestro to Fintech type payments like Papal, Alipay and WeChat and Mobile Money channels Like M-PESA, Tigo, Airtel Money and MTN Uganda. We have incorporated the strong security and wide acceptance of these modes of payments and remittances in our APIs to enable your customers to top up.

Withdrawal Channels

Your customers can efficiently withdraw cash through Mobile Money; M-pesa and Airtel Money. You can also set up your own agents where customers can withdraw and top up.

Wallet Card Integration

We have the possibility to integrate customer’s wallets with a custom NFC card. You can issue POS devices to Merchants and Agents to accept card transactions.

Security

Fraudulent activities, such as identity theft, are harder to initiate with mobile wallets. While a user’s credit card can easily be stolen or duplicated, smartphones are not that easy to steal. A smartphone that is stolen may be hard to access if there is an access password or fingerprint check installed. Mobile wallets may also have encrypted keys. Mobile wallets are also useful for retail businesses that experience high volumes of transactions per day because mobile wallets help to reduce wait and payment times. This is a win-win for both the customers and the business.

Because mobile wallets are a digitized version of physical wallets, almost every valuable card stored in a physical wallet can also be stored in the mobile wallet such as driver’s license, health information cards, loyalty cards, hotel key cards, and bus or train tickets.