Core Grade Wallet Solution

  • Value Store Transacting & Switching
  • Mobile Money Transfer
  • Loyalty or Value Store Systems
  • Alternative Transacting Platforms

Amethyst™ - Product

Core Grade Wallet Solution

  • Value Store Transacting & Switching
  • Mobile Money Transfer
  • Loyalty or Value Store Systems
  • Alternative Transacting Platforms

Amethyst™ - Product

Amethyst™ - Wallet Solutions

The Amethyst™ Wallet solution provides a sophisticated Chart Of Accounts (COA) that can be configured to suit your transactional needs while enabling core Mobile Money Transfer (MMT) transactions. Wallet technology is essentially a value store against which Debits and Credits move in accordance with required business interactions.

 

Why the Amethyst™ system is a powerful alternative payments instrument is due to its highly scalable architecture, agile and quick means to bring changes to the market, as well as facilitating ubiquitous servicing of the consumer, at low cost. Our out-of-the-box Wallet service includes:

P2P (Peer to Peer) Transfer

Merchant payment and settlement

Comprehensive Agent Network configurability

Agent Cash Float management

Wallet Debit Card (Withdraw and POS swipe)

Wallet top-up and withdrawal transactions

Success Stories

Amethyst™ launched both the EcoCash Service in Zimbabwe in 2010 as well as the MobiPay Solution in Georgia. Both Wallet solutions scaled to onboard over 2 million consumers who actively transact with VAS, Merchants, Agents, Bill settlement, Deposits, and Withdrawals. There is full accountability for all transactions and functions and our systems have been signed off by various auditors and Central / Reserve Banks.

Loyalty Wallet

Since a Wallet is essentially a value store, Amethyst™ is able to differentiate between currencies and can facilitate Loyalty as a type of Wallet against which functions and transactions can be executed.

Amethyst™ - Wallet Solutions

The Amethyst™ Wallet solution provides a sophisticated Chart Of Accounts (COA) that can be configured to suit your transactional needs while enabling core Mobile Money Transfer (MMT) transactions. Wallet technology is essentially a value store against which Debits and Credits move in accordance with required business interactions.

 

Why the Amethyst™ system is a powerful alternative payments instrument is due to its highly scalable architecture, agile and quick means to bring changes to the market, as well as facilitating ubiquitous servicing of the consumer, at low cost. Our out-of-the-box Wallet service includes:

Success Stories

Amethyst™ launched both the EcoCash Service in Zimbabwe in 2010 as well as the MobiPay Solution in Georgia, Russia. Both Wallet solutions scaled to on board over 2 million consumers who actively transact with VAS, Merchants, Agents, Bill settlement, Deposits and Withdrawals. There is full accountability for all transactions and functions and our systems have been signed off by various auditors and Central / Reserve Banks.

Loyalty Wallet

Since a Wallet is essentially a value store, Amethyst™ is able to differentiate between currencies and can facilitate Loyalty as a type of Wallet against which functions and transactions can be executed.

P2P (Peer to Peer) Transfer

Merchant payment and settlement

Comprehensive Agent Network configurability

Agent Cash Float management

Wallet Debit Card (Withdraw and POS swipe)

Wallet top-up and withdrawal transactions

More Amethyst™ Services

Agent and Merchant Networks

Enabling Agents in a Mobile Money Transfer context allows Consumers to Deposit and Withdraw via a much larger network of access points, than just a physical building or branch. This also enables SME’s to earn income, and serve the community of Wallet holders with assistance, news and support.

Cash management in a wallet context is important to the operations of the system, and thus Amethyst™ provides for comprehensive Super Agent and Agent network structures to track Cash flow in the system, elliminating risk.

The Merchants in the system enables Wallet holders to buy from Merchants, and for Merchants to reduce operational costs. Amethyst™ has various ways to have payments initiated against Merchants, easily and conveniently – via QR Code, OTPs or Merchant Codes.

Multi-deminsional

Amethyst™ is flexible in enabling more than one Wallet per Consumer in the system. Each Wallet can be configured to have their own transactions currencies integrations fees limits and KYC requirements. A Customer might have a Transacting Wallet while having several sub-Wallets.

Multi-Tenancy

Amethyst™ enables an instance to have many Wallet programmes operational in one system at the same time each silo’d to the full degree thus having individual branding transactions integrations COA’s currencies instruments and so forth.

Amethyst™ - Business Solutions

Amethyst™ - Business Solutions

Empowering Female SMEs

Empowering Women as Entrepreneurs

Amethyst™ enables SMEs to earn commissions and fee income from facilitating transactions, while also enabling SMEs to sell their goods while being paid via a Customer’s Wallet into the Merchant’s Wallet.

 

Many women take advantage of the opportunity to become Agents and Merchants, reducing their cash risk, but earning a steady and scaleable income from offering the service.

 

Women are still a largely disempowered and disadvantaged class in society, on which so much of our future depends. With Amethyst™, it takes very little for a vendor to start operations. All that a woman will need is a GSM enabled phone, her FICA documentation, and a willing attitude. Once set up, the Agent can start taking deposits and earning a commission, from there enabling airtime and Withdrawals is a simple matter of time.

 

Some of the great success stories out of the various territories where Amethyst has services MMT solutions is that some women started as street merchants, and a few years later own their own stores. Enabling Merchants to take payments via Wallets saves the Merchant costs and reduced cash risk.

Transactability as Basic Right

Disrupting the forms of transactability

We believe that transactability should be in the lowest of hierarchical needs, right along with access to information and the internet. Transactability pertains both the cost of transactions, as well as the ease of access – making access seamless in the Day-to-Day journey of the Consumer, Merchant, Agent and Corporate.

 

In the payments journey, every party involved does their part and takes a cut for it. South Africa’s National Payment System is one of the leading and most advanced and regulated in the world, and we have protecting legislation and regulations on transaction costs, however, many South Africans still find the traditional instruments too expensive.

 

With Amethyst™, you control the fee structure, commission structure, as well as the prices for transactions, and whether there are any fees at all. This means that the attractiveness for the consumer, together, without many configurable channels, including App, USSD, Card and ATM access enables both ease of access, and control over costs.

International Remittance

Accountability & Integrity through Technology™

Some Banks and SARB define remittance as Cash to Cash or Account to Cash only. Utilising a Wallet solution to facilitate international remittance will require Reserve Bank approval per territory and logistics and operational implementations, but the technology is already enabled to facilitate these solutions.

 

PMT will use existing Banking backbone infrastructure in other territories to enable interoperability functions for remittance across territories, where the Master Crimson™ enables the financial switching between the territories for Wallet systems. The actual moving of the funds remains within the backbone infrastructure.

 

PMT makes use of Crimson™, our core financial switch, which facilitates ISO8583 transactions for both Issuing and Acquiring institutions, currency conversion, and message switching and translation. Sending funds from South Africa to other countries from Amethyst™ to Amethyst™ will be facilitated through Crimson™.

 

The mechanisms on how this will be managed need to be discussed in terms of retailer integration in the territory, or the use of existing IMV integrations and infrastructure. However, the means to facilitate international remittance and compliance from a technical perspective through a Wallet solution is catered for in the PMT solution set. Amongst others, Amethyst™ can facilitate Cash Out for unregistered Users for remittance as was done successfully in EcoCash.

Education Wallet Solution

Accountability & Integrity through Technology™

Amethyst™ provides the means for bursaries to be paid into the Student’s Wallet and sub-divided to ensure that the allocated funds are used as intended into the various sub-Wallets. Once in the sub-Wallet rules dictate if money can be moved between Wallets, and what the Wallets can be used for. This means that money for textbooks cannot be used for grocery shopping for example.

 

In addition, full reporting and auditing of transactions, spend, and appropriation of funds are automatically available to sponsors. Students, therefore, learn to deal responsibly with money, learn to budget, while there is full visibility and accountability in the system regarding the funds.

 

Furthermore, easy access to payment methodologies will empower the student to transact using both their mobile interface, as well as the Wallet Debit Card. This will reduce Merchant costs for merchants onsite at the university, increase sale volumes and reduce transaction time, while the student can also swipe their card outside of the university merchant network, and withdraw funds at ATMs when needed.

Success Story

Artist Proof Studio makes use of the Value Wallet™ system to disperse funds to students for bursaries, stipends, and artworks sold. This has reduced operational time, cash risk, and ease of administration for the administrative team, increasing accountability for accountants and finance teams to the board and made access to funds for students easier and more accessible. Students have the ability to buy VAS, Withdraw funds, Swipe at Retail POS and send money to other students.

More Info

Interested? Let's get in touch!

Give us a call, we endeavor to answer all inquiries within 24 hours on business days.

Interested? Let's get in touch!

Give us a call, we endeavor to answer all inquiries within 24 hours on business days.