A new feature in our merchant wallet solution enables hassle-free and safe cash-in and cash-out for SME owners.
Sometimes small businesses need cash urgently to give change to customers or to replenish stock. An example is a street food vendor who has run out of pickles due to the high demand for burgers. To address such situations, the SME can register designated representatives in the Way4 Merchant Portal and give them rights to withdraw cash directly from the merchant wallet’s account. For authentication, representatives must show their ID to the manager of the cashpoint, a dedicated wallet operator’s office or branch. The manager then compares the ID information with the records stored in Way4 database. This new option eliminates extra paperwork and makes cash withdrawal easier and quicker.
As for the wallet cash-in option, it mostly serves merchants with the cash on delivery model. Now their couriers can deposit payment sums promptly and frequently, decreasing the risk of being robbed. These operations will be automatically included into the transaction history of the wallet.
As a reminder, we already support cash-in/cash-out options for consumers.