Topup

Topup, often referred to as Real Time Replenishment, has been in the works for a few years and is the next evolution of replenishment products.  So what is it?  It's basically the elimination of the PIN.  What's so interesting about that you might be asking yourself.  What it means is that instead of having to deal with redeeming a cumbersome PIN printed on a card or receipt, you simply have to give the clerk your wireless phone number in the store.  The clerk will enter your number into the terminal and the amount/denomination you want to add to your account, and presto, the money is on your account!


It sounds simple enough, however, making real time technology work is actually no small feat.  More details on this later.  For now lets review the various benefits:

Customer Benefits:

• No messing around with PINs on cards or paper receipts.
• No need for a second redemption step.
• Money is available immediately on your account without any extra steps.
• Typically allow you to add any amount, in dollars and cents.  In other words, you're not restricted to just a few fixed amounts/denominations.

• No card inventory management and related costs.
• No security/fraud exposure with electronic PIN products.
• Lower support costs by helping customers with PIN related problems.
• Ability to better serve customers by offering you access to open range (you can add any amount you want).

• Better customer experience by eliminating the two step purchase-redemption process.
• Decreased operational costs by eliminating card printing and distribution.
• Decreased fraud costs by eliminating electronic PIN management.
• Decreased customer care costs from handling PIN related PIN problems.

Return from Topup to Adding Money

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