Sicap offers mobile money ATM to African operators

Source: Sicap

Sicap, confirmed mobile solutions provider across Africa, has announced the launch of cash-in, cash-out mobile money services on specially designed ATMs. The cash transactions are accounted for on the customer’s mobile account, so no bank account or card is required. For operators, the mobile money ATM offer from Sicap constitutes a secure circuit for a variety of money transfer scenarios.

“Response to the pre-launch roadshow from the Sicap Africa office in Johannesburg was enthusiastic “said Sicap Africa Managing Director Yann Pognant. “Sicap is well positioned to deploy solutions tailored to African demographics and market needs. Our ATM service solutions target the unbanked with user-friendly and safe cash transfers”

Adapted to meet operator needs, the ATMs, can be deployed as a simple prepaid credit channel to the 95% of African mobile users who use prepaid subscriptions and top up on a daily basis. This use case alone represents huge potential for operators to make savings, since it eliminates reload commissions to vendors.

Alternatively, they can be deployed for money remittance services with cash withdrawals enabled, or connected to CRM platforms for automated customer care, or even set up as a means for the unbanked to settle their utility bills. This use case has been identified as particularly interesting for mobile users in countries like Cote d’Ivoire, because there is no door to door national postal service. Until now, the unbanked have had to physically go and find out how much their bills are.

Potential reach for mobile cash services on an ATM is very wide. Even in South Africa, the most economically developed nation on the continent, only 40% of households dispose of a bank account, according to the World Bank. In West and Central Africa, the percentage of banked households drops to 20%. In Cote d’Ivoire for example, the dissuasive 6 euro monthly account charges imposed by banks is equivalent to two days of salary for a security guard or shop employee. While aversive to banks, the population of Cote d’Ivoire avidly adopts value-added services such as Sicap Pay4Me mobile reverse charging. The Sicap cash-in to cash-out ATM solution will be the next milestone in value-added services by enabling mobile phone users to transfer airtime or send cash transfers to any other mobile user in real time.

Given the multitude of deployment scenarios possible for the ATMs, Sicap intends adapting the ATM service offer to local opportunities.

“Response to the pre-launch roadshow from the Sicap Africa office in Johannesburg was enthusiastic “said Sicap Africa Managing Director Yann Pognant. “Sicap is well positioned to deploy solutions tailored to African demographics and market needs. Our ATM service solutions target the unbanked with user-friendly and safe cash transfers”

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