BankWorld Wallet is a Digital Wallet that enables banks to offer customers the ability to easily and instantly make purchases or send and receive money through their smartphone.
- Accelerate growth of Digital Customer Base
- Reach new customers
- Enable banks to compete within the Digital Wallet Market
- More easily target the unbanked
- Execute a Digital Payment Strategy
Digital Payments made easy can help banks compete and differentiate in their market. Our Digital Banking Platform offers a broad scope of payment capabilities and innovative ways to transfer money. BankWorld Wallet is a Digital Wallet that enables banks to offer customers the ability to easily and instantly make purchases or send and receive money through their smartphone.
This Digital Wallet empowers banks to reach remote and rural communities in emerging and developing regions by providing Digital Wallet services encompassing banking, remittances bill and other payments. Where there is a widespread usage of smartphones and a significant population of unbanked, BankWorld Wallet allows for an extremely low cost of entry into banking with high customer acquisition.
The launch of the Amole Digital Wallet in Ethiopia highlights the flexibility of the platform to meet the needs of local services and access technologies required – Mobile App, Internet and USSD, which are used to pay bills, purchase concert tickets, airline tickets, pay taxi cabs, mobile top ups, DStv bills, airtime and more. The Digital Wallet seamlessly integrates to Dashen Bank’s digital banking channels.
Drive your Digital Customer Base with Services that are Relevant for your Customers
BankWorld Wallet allows banks to offer a comprehensive Digital Wallet and a personal payment platform resulting in increased revenue and customer acquisition.
Increase revenue
Fees can be charged against the transaction on wallet accounts.
Increase Digital Customer Base
A simple four step customer journey onboards new customers quickly and cost efficiently via mobile. Onboarding is also available via the internet and USSD.
Digital Wallets can encourage users to open other bank accounts such as savings and loan accounts.
Managed by the Bank
Accounts managed by bank – float available to the bank
BankWorld Wallet shares a pool account in your bank’s back office, so it will act as a standard account on any back office. All regulatory requirements can be managed by the bank in line with their Central Bank’s mandates. A KYC (Know Your Customer) registration capability is included in the solution.
Features of BankWorld Wallet
- System limits allow the bank to define how much can be held in a wallet account. Once these limits are exceeded the excess is moved into an overflow account.
- Overflow accounts for non-bank customers are also BankWorld accounts shared in a single pooled back office account.
- Existing bank customers can nominate another account as their overflow account
- merchant payments (NFC and QR) and e-commerce
- P2P
- bill payments
- pull payments
- The services are available in multiple languages so that customers can operate in their language of choice.
- A portal for bank staff to complete KYC (Know Your Customer) registrations at branches allow for quick and seamless onboarding.
The system includes limits for:
- Maximum balance in a Digital Wallet
- Maximum volume and velocity of Digital Wallet transactions
Wallet Funding
- Another Bank Account
- Visa, Mastercard or Amex card
- Agent
- At the ATM
- Through the Wallet
- Cash-in at Branch
- Remittances
- Bulk Loading
Payments
- Request a bill/ subscription
- Add a new bill
- Pay through QR Code
- Pay a merchant through NFC
- Buy a ticket
- Pay through a payment link
- Pay 3rd party fee
- Request Money from another user
- Send money to another user
Amole Success Story
Dashen Bank wished to strengthen their position in the Ethiopian market and build their digital customer base. They sought to create a digital platform that offered a broad range of products and services via digital payments, which also seamlessly integrated to their digital banking channel. The bank partnered with Moneta Technologies and set about developing a digital wallet for the Ethiopian market.
Amole allows both retail and business customers to access an extensive range of rich content available to purchase via electronic payments and money transfer options, across one of Africa’s largest and fastest-growing economies. It offers ease of use and convenience when purchasing airline tickets (Ethiopian Airlines), school fees, retail payments, eCommerce, concert tickets, taxi cabs, mobile top ups, DSTV bills and more.
The platform offers a set of access points that are relevant to the Ethiopian market today which include USSD, mobile app, internet, social media and Agency Banking and offers an easy onboarding process, allowing users to self-register over a range of channels.
For banks such as Dashen, AMOLE offers incredible potential including:
- Process high volumes of new customers
- Dramatically increase deposit mobilisation
- Domestic payments and international transfers
- Position the bank as the dominant force in Ethiopia’s payment space
- Differentiate locally by offering:
- Seamless integration between the Digital Wallet and the Dashen bank account
- Self-service registration, omnichannel experience and a 360 view of the customers
- A rich network of products and services that is demanded and relevant to millions of Ethiopians today, leading to high levels of customer loyalty, stickiness and high active daily user rates.
AMOLE has transformed Dashen’s digital customer base with almost 4 million accounts already registered on the platform.
Serving over 100 banks in 60 countries
A world leading vendor in the Digital Banking Platform market, we uniquely offer the broadest range of physical and digital banking channels today.
