Cashsend Absa South Africa

Account to ATM service. CashSend allows Absa customers to send money to anyone in South Africa with a cellphone number, regardless of which mobile network they use or which bank they bank with. Send customer must have an ABSA bank account. Offers web


Link to external site : Website for Cashsend Absa South Africa
Cashsend Absa South Africa
Brand
Launched in
Status
Launch
Importance
Traction
Evaluation
ABSA had probably for the first time got the South Africa Reserve Bank to approve a non-paper based cross border retail forex payment. Although this does little for un-banked users of remittance service, it is a major breakthrough for the banks and applied across a wider range of forex payments could save the South Africa banking industry billions in reduced processing costs, allowing the cost of cross-border payments to fall significantly.
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Account Type
Bank Account
Register/Log In
Business Model
Class
Send Services Receive

ATM


Mobile


Web


Account


Card

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DMT

IMT

MB

MM
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Card


Cash


ATM


Mobile


Web

Model
Who Leads?
Reach
Active Users
Registered Users
Potential Mobile Market (m)
Regulations
Persona
Purpose
Active Services
Card Type
ServicesDescription
send from web, mobile or ATM to ANY user in SA giving their mobile no.
Upgrade to Bronze
Channels
Payment Instruments
Cash I/O Description
Cash I/O No Of Locations
Handsets
Technologies
Interoperability
All mobile users, Single bank
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RegistrationProcess
Sending money with CashSend is quick and easy, and takes less than two minutes using Absa's Internet Banking, Cellphone Banking or an Absa ATM. There are no queues or forms to complete, and there is no registration process for the recipient.
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Main Segment Unbanked
Segment Description Ideally suited for urban->rural.

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