Shops might need five counter staff for the busy periods, but for the rest of the time they could manage with just two making the other three virtually redundant.
Sheffield, UK (PRWEB) November 07, 2012
Most Money Transfer companies have been offering self-service Send via kiosks for many years, but few have been able to complete the cycle and allow customers to collect their money from the kiosk as well. However, the industry is fast coming to the conclusion that in order to maximize the benefits of the self-service business model, it is important to allow customers to complete all transactions at the kiosks.
Money Transfer businesses are rarely predictable and they experience peaks and troughs over the course of a month, with the most busy times being around the end of the month (on pay day). This makes staffing a Money Transfer enterprise very difficult; shops might perhaps need five counter staff for the busy periods, but for the rest of the time they could manage with just two making the other three virtually redundant. The arrival of self-service kiosks (with a Send facility) has helped alleviate this problem to a certain extent, but customers still have to queue up to collect their remittance.
One of the main reasons the industry has been hesitant to progress in this area is the regulation that comes with offering pay-out from an unmanned point of sale. This service effectively turns the kiosk into an ATM, which puts the operation onto a much higher level. “Regulatory concerns are definitely the main factor preventing mass adoption of pay-out from Money Transfer kiosks” says Ben Widdows, Senior Account Manager at GWD Media. “Having to deal with the extra paper work and accreditation that is required puts most of our customers off. I’m delighted to see the first company taking the plunge, especially as the benefits are already plain to see.”
Another major obstacle has been the authentication of the receiver. How does a kiosk know that the person collecting the cash is authorised to do so? To overcome this issue Genkiosk developers have implemented ID scanning via OCR, which can read licences or passports, collect the identification information required and store it securely in the Genkiosk cloud-based infrastructure. However, this does of course require the purchase additional hardware for the kiosk…
Increased hardware cost is the third issue Money Transfer providers have to face before adopting the pay-out functionality. Typically this involves adding in ID scanning hardware (with associated software integration costs), but also means purchasing a note recycler to dispense cash. The kiosks that offer this feature do therefore require a higher capital expenditure, but compared with the costs associated with increased staffing requirements, the Genkiosk team felt this to be a worthwhile expense.
Genkiosk Kiosk Software is used worldwide, as far away as Manila and Suva and as close to home as your local supermarket. Genkiosk Kiosk Management System handles millions of transactions a month. Genkiosk Kiosk Software, by GWD Media Ltd is suitable for the full range of self-service kiosks.
GWD Media is headquartered in Sheffield, UK, and operates worldwide.