The RETAIL application manages the flow of funds between consumers, retailers, wholesalers and financial service providers.

The solution offers merchants who service the banked, un-banked and under-banked a cashless payment system, designed to meet their specific needs and the needs of their customers by offering security, affordability and accessibility. Many of these merchants operate in under developed areas where traditional financial institutions and their products are unavailable or limited due to the lack of communication infrastructures. In addition, these merchants do not meet the selection criteria imposed by formal financial institutions, either for financial reasons or because they cannot meet or adhere to the rules and regulations these formal institutions demand.

The primary function of Retail is to effect payments made for goods, services or cash dispensing, from a client smart card to a merchant smart card in a secure offline manner. The system is designed to eliminate unauthorized abuse and an audit trail of each transaction is stored on both the client and merchant card to guarantee system audibility. The transactions stored on merchant cards cannot be overwritten until these transactions have been settled to the System Host via Online Settlement or via the Offline Settlement functionality utilizing the “Milking Kit – UEPS POS and Milking Operator Merchant Card”

Merchants derive several different benefits from the retail application.  The system decreases the amount of cash they must hold, improving security and reducing expenses, such as cash deposit fees and cash losses.  By providing financial services through the POS device, merchants also benefit from new income streams at no additional incremental cost. 

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Smart Spending

Once funds are loaded to a card, cardholders have the flexibility to purchase goods, perform cash withdrawals, initiate money transfers, request automatic loans, effect third party payments offline at any participating merchant store. To perform a transaction, the client card is inserted into the top smart card reader of the POS device and the appropriate function is selected. Biometric fingerprint identification is required for most functions to protect cardholders against the unintended or fraudulent usage of their funds. A receipt is printed reflecting the details of the transaction performed as well as other system audit trail information.

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Smart Settlement

As spending via a UEPS card occurs OFFLINE, the settlement of the merchant transactions need only occur within the two day “window settlement” period as stipulated by the system operator, or as and when the merchant card becomes full. Settlement can be performed ONLINE or OFFLINE.

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Benefits: RETAIL & WHOLESALE Applications for Merchants:

• Increased turnover from a growing smart card client base
• Reduced cash holdings
• Reduced banking charges
  
• Reduced communication costs
  
• Reduced reconciliation problems
  
• Minimization of the risks associated with fraud and theft and violence
  
• New income streams by providing our comprehensive range of financial services and products in their stores (i.e. cash withdrawals, money transfers, loans and 3rd Party Bill Payments)

Applications Menu
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Registration, Enrolment & Smart Card Issuing

Salary/Wage/Pension/Grant Payment Distribution

Affordable Smart Card Banking

Retail

Electronic Voting

National Health Insurance Fund

Medical Stock Control, Patient Identification & Drug Allocation

Secure Mobile Banking

12-Map Biometric Search Station

Food Parcel Monitoring & Distribution

Pension Employee Collection and Distribution