According to Statista:
• Transaction value in the Digital Remittances segment is projected to reach US$37.53bn in 2022. • In the Digital Remittances segment, the number of users is expected to reach 4.1m by 2026.
• The average transaction value per user in the Digital Remittances segment is expected to amount to US$12.45k in 2022.
How to Expand Your Money Transfer Services?
The financial sector has evolved substantially over the years, and the potential for further growth in digital remittance is massive. During the pandemic, it was clear that processing money transfer the traditional way had many drawbacks. The introduction of digital remittance represents not just a new way of credit transfer or cash transfer, but also a much better way of sending money for many reasons. For this reason, fintech companies, like IBS, were established to facilitate people’s access to financial services through technologies. Remittance kiosks for instance, provide a safe, easy, and efficient way to send money.
Traditionally, remittances involved slow transfers, multiple parties, lots of paperwork, and high fees; whereas digital Self-Service Kiosks (SSK) perform everything a remittance clerk or teller does, it allows a registered customer to choose the beneficiary from his list, choose the destination amount to be transferred, and make the payment by cash or credit. Remittance self-service kiosks (SSK) extend your remittance services and many other services to 24/7, without expanding your staff or branch numbers. It’s vital to understand that this growing acceptance of digital remittances is an indicator of the new digital economic reality.
IBS Remittance Kiosk
IBS Self-Service Remittance Kiosk “Remittance iKiosk” allow customers to send money to family, friends, and any pre-registered overseas beneficiary with only a few clicks!
1. Select a preferred language
2. Provide your identification with Biometric or ID Reader, OTP, or Username and Password
3. Receive Login details on your phone
4. Choose receiver, amount to send, and payment method
5. Send money
6. Collect receipt
7. No need to track the payment as money transfer is instantaneous
Whatever scale of operation you may have, we’ll provide you with a convenient and secure machine to process remittance services easily and securely. Integrating top notch hardware with advanced software, this Money Remittance Kiosk simplifies processing financial transactions. The Kiosks are fully automated solutions with compact designs, meaning they can operate 24/7, and be placed strategically at various parts of the city, like exchange houses, banks, financial institutions, and even at the public areas like malls and airports.
Remittance iKiosks offer the convenience of completing typical transactions such as viewing balances, printing bank statements, opening accounts, exchanging money, transferring cash and credit, paying bills, etc. Our Remittance Kiosk comes with a Remittance Calculator that checks the amount of money that you want to transfer in your desired currency, including the transfer fee amount. It can also provide money exchange services if the customer requests so.
The Remittance iKiosk will be designed to fit your unique needs. It gives you the option of customizing the design, colors, components, and features. You can upload your company logo or a background image. An advertising module can be added to promote your products and services while the machine is not in use. A kiosk with customizable features is a great investment for any business.
Companies who implement Infinite e-channels management platform get the most value as it connects with Kiosk, Web app, and Mobile app. Companies will be able to operate, configure, and monitor all channels through one core software rather than managing each channel separately. Authorized personnel can also see live dashboards and reports for each connected machine.
What’s more! The transactions can be done through various payment channels such as: Cash to Cash | Cash to Card | Cashless, via Debit Card or Mobile
Allow customers to send remittances securely, within seconds. Contact us our experts for a consultation.
• Hassle-Free Money Transfers
• Accelerate Currency Exchange
• Reduced operational cost
• Cut Operating Costs
• Enhanced queue management
• Boosted Sales
• Adoption of technology
• 24/7 availability
• Secure and Easy to Use
• Cost effective
• Highest standards of security
• Customized design
• Multiple languages
• Multiple currencies
• Easy installation
• Fast customer data collection
• Enhanced customer experience
• Multiple device integration
• International standard
• Fraud protection
• Easy relocation
• Identification & Verification
• Money Exchange
• Cash Transfer
• Credit Transfer
• Remittance Calculator
• Pay Bills
• Print Bank Statement
• View Balance
• Open Account