What Do You Know About E-Zwich
[2008-4-16]
As a retailer, how can the e-zwich card be of use to me?
With the aid of an e-zwich Point of Sale (POS) device, you can accept e-zwich cards for payment from your customers electronically. This can be dropped off electronically using the existing telephone networks. You will therefore not havethe burden of carrying cash back to the banks after sales.
2) How does it work?
An e-zwich POS device issued by your bank, savings and loan company or rural bank will have in it a retail merchant card registered to you and linked to your traditional bank account. During payment, your customer’s e-zwich card is slotted into the card reader on the POS and debited by the amount of the transaction using the keypad. The customer authenticates the payment with their finger print. Their card is then debited by the amount plus any other fees and credited to your merchant card. At the end-of day, you will settle all transactions on the POS electronically through e-zwich to your bank accountlinked to your card. You can then draw on the funds from your bank.
3) How do I transfer money to the bank?
The POS device has a settlement function on it. When selected, the device willgo Online using either an inserted SIM card from any of the major telecom service providers, and line telephone socket or an internet connection. The POS will come pre-configured with the required e-zwich system host destination numbers.
4) Who pays for the connectivity?
The retail merchant
5) What other services can I offer on the POS?
Other e-zwich operations that can be performed on your POS include; Money transfers, online and Offline funds load, 3rd party bill payment, card enquiries and cash advance collections.
6) What do I get for these services?
Various fees are charged for services offered to e-zwich client card holders.
These are split amongst participants to such transactions including the transaction facilitator or the retail merchant. If the retail merchant also owns the POS device, the proportion of the fee revenue increases. These fee revenues arecollected and paid electronically during settlement to the retail merchant’s traditional bank account.
7) How do I receive my sales revenue if I do not have a bank account?
You can have you sale transactions settled to another e-zwich client card or any nominated bank account of your choice if you do not have a traditional account.
What charges or fees do I incur as a merchant?
The main merchant fees are paid for primarily for sending the money to the bank.
9) Can a merchant have more than one bank’s POS device at its premises?
Yes. The merchant is completely responsible for the decision of which bank’s POS to use and how many for each bank, savings and loan or rural bank.
With the aid of an e-zwich Point of Sale (POS) device, you can accept e-zwich cards for payment from your customers electronically. This can be dropped off electronically using the existing telephone networks. You will therefore not havethe burden of carrying cash back to the banks after sales.
2) How does it work?
An e-zwich POS device issued by your bank, savings and loan company or rural bank will have in it a retail merchant card registered to you and linked to your traditional bank account. During payment, your customer’s e-zwich card is slotted into the card reader on the POS and debited by the amount of the transaction using the keypad. The customer authenticates the payment with their finger print. Their card is then debited by the amount plus any other fees and credited to your merchant card. At the end-of day, you will settle all transactions on the POS electronically through e-zwich to your bank accountlinked to your card. You can then draw on the funds from your bank.
3) How do I transfer money to the bank?
The POS device has a settlement function on it. When selected, the device willgo Online using either an inserted SIM card from any of the major telecom service providers, and line telephone socket or an internet connection. The POS will come pre-configured with the required e-zwich system host destination numbers.
4) Who pays for the connectivity?
The retail merchant
5) What other services can I offer on the POS?
Other e-zwich operations that can be performed on your POS include; Money transfers, online and Offline funds load, 3rd party bill payment, card enquiries and cash advance collections.
6) What do I get for these services?
Various fees are charged for services offered to e-zwich client card holders.
These are split amongst participants to such transactions including the transaction facilitator or the retail merchant. If the retail merchant also owns the POS device, the proportion of the fee revenue increases. These fee revenues arecollected and paid electronically during settlement to the retail merchant’s traditional bank account.
7) How do I receive my sales revenue if I do not have a bank account?
You can have you sale transactions settled to another e-zwich client card or any nominated bank account of your choice if you do not have a traditional account.
What charges or fees do I incur as a merchant?
The main merchant fees are paid for primarily for sending the money to the bank.
9) Can a merchant have more than one bank’s POS device at its premises?
Yes. The merchant is completely responsible for the decision of which bank’s POS to use and how many for each bank, savings and loan or rural bank.
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