Wednesday, September 20, 2017
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Solutions
Biometric ID. reduces fraud

Reewire 4M™ provide the possibility to integrate inexpensive and yet highly performing biometric finger vein identification. Finger vein identification eliminates the possibility for repetitive unpaid credits by several registrations of same individual under different names

 

Transfer & Remittance
Reewire 4M™ provides a flexible toolbox for deploying and managing all types of money transfers.

Cross-border (International & Domestic) Transfers can be between traditional bank customers, mobile money customers as well as pre-paid card or credit card customers – allowing cash transactions to and from unbanked and or non-registered customers as well as the traditionally banked customer.

 

Transfer types

Transfer types fall into 3 categories:


Account to Account  Transfer
Account to Cash  Remittance
Cash to Cash  Remittance
Cash to Account  3rd party Deposit

 

Remittance through Agents

When the sender or receiver or both are not a mobile banking or mobile money registered user, they will send or receive the transferred money via the Agent Network. The agent can be a bank branch, the post office the local supermarket and for small amounts even the street merchant selling airtime.

 

International Transfers

 

Reewire 4M™ provides real-time clearing and switching between different banks and currencies, so transfers are instantly available to the receiver both internationally and locally.

 

Reewire 4M™ also enables termination of 3rd party transfers (MTO-Money Transfer Organizations/Networks) e.g. Termination of Western Union or Money Gram transfers directly to the Mobile Phone of the receiver, eliminating the need for the user to collect the money in-person at a Western Union or Money Gram office.

 

Diaspore & Immigrants

Millions of diaspora and immigrant workers are sending money home to their families every day.

 

Most of them use transfer companies such as Western Union and Money Gram to do so and other use smaller transfer companies or traditional bank wire transfer.


With Reewire 4M™ banks and transfer companies can offer new and more convenient and efficient ways to transfer funds by sending the money directly to the mobile phones of the receivers.

 

Diaspora can even have a local mWallet in their home country and load their mWallet directly with their credit card from abroad and hereafter start transferring money instantly to the receiver’s mobile phones or via the agent network in cash, if the receiver does not have an mWallet.

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