Remit4Sure - Remittance Solution
Remit4Sure is a web and mobile based Remittance application Platform that manages end-to-end cross border money transfer lifecycle by providing an innovative solution to banked and unbanked end-customers of financial institutions , money exchanges, mobile network operators (MNOs) and Money Transfer Organizations (MTOs) through web, mobile or brick & mortar establishment with a single point of contact to remit money and integration with the financial institutions in the receiving and settlement corridors.
Remit4Sure provides a solution to all challenges faced by the remittance industry and facilitates the money exchanges and payment banks to provide flawless services within the regulatory frameworks. Remit4Sure complies with regulatory requirements and satisfies Know Your Customers (KYC), Anti Money Laundering (AML) and other financial regulations with easy to use service features. Remit4Sure is available via the cloud in a SaaS model.
The remittance industry is witnessing increased cross-border money transfers but also faces various challenges, which are stopping it from realizing its full potential. Most payment systems are based on local laws and practices within existing domestic banking and financial infrastructures making the cross-border transactions difficult. Government regulations are changing how payments are made. Payments are subject to domestic regulations and often rules vary between originating and receiving countries. A large unbanked population with cross-border remittance requirements needs find it difficult to remit money. Remit4Sure provides a solution to all the challenges faced by the Remittance industry.
Remit4Sure is a unique solution that addresses the growing demand for mobile/web money transfers, and complies with the International Financial Service Regulations. Remit4Sure provides end customers the benefits of a convenient, accessible and affordable solution to remit monies.
Remit4Sure enables a wide range of payment methods such as Cash, NetBanking, Credit/Debit card and Mobile to remitters and allows them to deliver money to beneficiaries through convenient ways such as Direct Account Credit, Cash Pickup, Door to Door Delivery and Deposit to Mobile Wallets.
Remit4Sure provides non-repudiation and secure web/mobile payment transactions from the Money Service Businesses (MSBs) to the cash outlets(Agents) within the Remit4Sure system. With this capability Remit4Sure enables secure cross border transactions by millions of web/Mobile users across the globe. It also complies with Payment Card Industry Data Security Standard (PCI-DSS) and delivers advance security with Secure Sockets Layer (SSL) and 3D-Secure.
Remit4Sure offers a platform to interconnect global MNOs, MNO hubs, and money transfer processes with the payment gateways and reconciliation and settlement engines like Monegram.
Remit4Sure capitalizes on the extensive experience of Daemon in anti-money laundering (AML) and counter terrorism financing (CTF) regulatory frameworks while complying with local and cross border money transfer regulations.
Helps Clients reduce time to market and capture market share within a matter of months.
- Provides for web and mobile interfaces for the customers ease of use
- Customer Self-service, Call Centre and Back office portal for end to end transaction management.
- Agents & Branch management.
- Establishment of virtual wallets for complete accounting - Agents & Branches can physically add cash to their wallets.
- Capture complete customer details including financial regulatory details for policy enforcement.
- Option to include rules for compliance such as negative lists, UN reported terrorist checks, suspicious transactions.
- Enables Agent to create and manage their customers with Back-office managing the compliance enforcement.
- Supports Agent and Customer commissions and deals.
- Back-office compliance functionality for approving customers and beneficiaries.
- Accounting ledger and balance reporting.
- Audit trail of activity and transactions visible to Agent for reporting.
- Maker/Checker functionality for due diligence.
- Option to prefund customer's wallet and self-management of wallet by agent and customer
- Options to include limits for each customer based on his/her identification.
- Daily, periodic and Reconciliation reporting module.
- Predefined integration with services like MoneyGram and payment gateways.