Al Bader Exchange has successfully installed the first kiosk machine by KeyKiosk to transfer money across all its branches. The kiosk will make money transfers for customers using Xpress Money's remittance services more convenient.|
Mr Ibrahim Darraz, Managing Director, KeyBS, said, “KeyRemit is now live in all Al Bader Exchange branches where KeyKiosk is located. It will enable individuals to remit money to their families all over the world through a simple touch screen and allows both cash and cashless transactions. The user benefits from fast and easy remittance and a secure transaction receiving SMS notification as well as a printed receipt”.
Mr. Adel Khoory, General Manager, Al Bader Exchange, further explained, “KeyRemit is a service provided on KeyKiosk through Xpress Money. The process of money transfer through the kiosk is controlled and monitored through the Web Portal of Al Bader Exchange House, and is therefore completely safe and accurate for the end user; they even receive a SMS notification once the money is transferred. The printed receipt generated from the kiosk carries the transaction's reference number.”
Mr Ibrahim Darraz, explained, “The process is complete within one or two minutes. Customers are required to enter their mobile number on the kiosk, (they then receive a one-time Password – OTP) on the mobile through an sms. They have to enter this password into the screen, following which they get to select the predefined beneficiary.The user is then asked to choose the country of beneficiary as well as the currency in which he / she is required to receive the money. The customer then gets confirmation about all the entered remittance details, and is asked to choose the payment method: By card or cash.”
The Kiosk is totally hassle free and allows no delays or language difficulties as the KeyKiosk provides 10 different language options to allow different nationalities to use the facility.
Mr. Pushpak Damania – Regional Vice President, Business Development for MENA AFPAK, Xpress Money stated, “With a presence in 5 continents and 150 countries, Xpress Money is one of the most reliable money transfer entities worldwide. As a brand we have always looked to provide innovative services to our customers and are delighted to offer our services through KeyKiosk installed at our Partner Al Bader Exchange Branches. We are happy that such technological advancements are being made in the remittance industry and would like to congratulate Al Bader Exchange and KeyBS on taking this first step. Since most customers have experienced the ease of using an ATM machine, they will find this remittance kiosk to be fast, convenient and easy to use as well. We believe that kiosk technology in the money transfer business has a bright future.
According to World Bank report, remittance flows to developing countries are estimated to have totaled $401 billion in 2012, an increase of 5.3% over the previous year. Global remittance flows, including those to high-income countries, were an estimated $529 billion in 2012. The top recipients of officially recorded remittances in 2012 were India ($69 billion), China ($60 billion), the Philippines ($24 billion), and Mexico ($23 billion). Other large recipients included Nigeria, Egypt, Pakistan, Bangladesh, Vietnam and Lebanon. Remittance flows are expected to continue growing, with global remittances expected to reach $608 billion by 2014, of which $468 billion will flow to developing countries.
About KeyBS: KeyBS is a leading technology provider and member of Arabi Holding Group KSC. It has quickly emerged as a significant player in the lucrative GCC market aggressively capitalizing on the region's growing demand for technology and automated payment solutions. The company provides advanced mobile, kiosk and point of sale (POS) systems and services for remittance transactions and bill payments as well as customized software and hardware tailored to boost productivity and efficiency that in turn help cut down costs.
For more information about KeyBS visit http://www.keybs.net