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Topup - No More PINs!
Topup, often referred to as Real Time Replenishment (or RTR), 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!
This payment technology no doubt has some major advantages to not only
the customer experience, but also to the store as well as to the
wireless carrier. It sounds simple enough, however, making
real time technology like this work is
actually no small feat. Here are the major benefits broken
down by categorys:
Customer Benefits:
- No messing around with PINs on cards or paper receipts
(i.e. scratching off the protective layer, or worrying about damaged
PIN-on-receipts).
- No need for a second PIN redemption step.
- No lost or stolen PINs.
- Money is available immediately on your account without any
extra steps.
- Typically allows you to add any amount, in dollars
and cents. In other words, you're not restricted to just a
few
fixed amounts/denominations (ex. $10, $20, $30, $50, $100).
Store Benefits:
- No card inventory management and related warehousing costs.
- No security/fraud exposure with either physical card-on-PIN
or 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). In other words,
the store can accept what money you happen to have in your pocket
without turning you away because you don't have enough for a certain
pre-defined denomination.
Wireless Carrier Benefits:
- Better customer experience by eliminating the two step
purchase-redemption process. Multiple steps almost always
lead to errors and issues that result in customer complaints and calls,
which leads to higher support costs.
- Decreased operational costs by eliminating card printing
and distribution.
- Decreased fraud costs by eliminating electronic PIN
management exposure.
- Decreased customer care costs from handling PIN related
problems.
Some Disadvantages!
While real time topup is certainly the most desirable technology all
around, there are some disadvantages to keep in mind, some of which
include:
- Customers don't always know their prepaid wireless phone
number (believe it or not, it's true!).
- Customers or clerks can make mistakes while entering the
phone number. Even though most real time replenishment
systems require double entry of the phone number for validation, double
INCORRECT entry of a phone number is far more common that you woud
think. As a result most experienced prepaid providers will
come to understand that they need to provide void or refund
capabilities to handle such errors.
- Easy, and potentially unlimited access to inventory means
that wireless dealers can find themselves with cash flow management
issues. While this isn't a customer concern, wireless
carriers need to ensure they have effective (and enforeable!) payment
terms with their dealers and resellers.
Despite some of the disadvantages, it's fair to conclude that Real Time
Reload is an overall win-win-win
for all involved. As a customer, you should seek out real
time replenishment locations for the best experience.
However, keep in mind that topup is not available everywhere,
although you should see it becomming more and more
popular with each passing year.
Return from Topup to Adding Money
Return to Prepaid Wireless Guide Homepage
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