DIGITAL BANKING ECOSYSTEMS
TagPay provides a well-developed mobile financial service platform, the backbone for a complete digital banking ecosystem.
AN Ecosystem built around the Mobile wallet
The TagPay platform allows anyone with a cell phone to conveniently and securely store, send, and spend funds using a Mobile Wallet. Funds are loaded on the Mobile Wallet via various sources including money transfers, salaries and pensions, bank and card accounts, or direct cash deposits. Money in a TagPay Mobile Wallet can be used to pay bills, make purchases in stores and on the web, or transfer funds to others. All existing cell phones can be used without prior enrollment or special apps.
Building a new ecosystem with strong partnerships
Every digital banking solution is run by a bank, or partners with a bank, for regulation purposes.
It is possible for end-users to use the ATMs of the bank branches to do cash-out.
The bank's network of agents, bring financial services close to the end-user. The agents can enroll a new end-user and manage cash-in and cash-out for the Mobile Wallets.
Overview of services provided:
- Secure KYC enrolment
- Cashin & Cashout
- Personal assistance and finance training
- Saving management
- Loan disbursement
- Loan reimbursement
The telecom operator's network of agents can provide multi channel air time payments to the end-users with SMS, IVR, Agent, USSD.
Their network can also be leveraged to provide other services to the end-user.
The state and its administration can use the ecosystem to disburse pensions, collect school fees and taxes and pay the salaries of the military and government employees.
Employers can use theplatform for cashless payroll management. They benefit from:
- Online monitoring
- Alert and incident detections
The merchant network can have all customers pay at their point of sale, no matter the Mobile Wallet used. Merchants benefit from:
- A large choice of payment terminals
- Access to an online management dashboard
- Possible loyalty schemes
- Extension to e.commerce payment
Utility companies can have end-users pay their billswith theur Mobile Wallet. The utiliy companies benefit from:
- Bill paymentat agent location
- Bill payment via SMS or IVR
- Connection to bill aggregator
- Dashboard and online monitoring
Payment at the point of sale
Seamless payment at the Point of Sale is essential for the creation of a strong digital financial service ecosystem.
For end-users to adopt digital banking on their mobile phones, and not revert to cash-out, they need to be able to pay directly with their phones in stores.
The NSDT technology enables a seamless contactless transaction to take place, with any phone on the market.
TagPay is developing interoperability of all Mobile Wallets at the Point of Sale.