QBFin integrates with MobiPay for mobile payment solution.

QBCon recently developed an interface between mobile payment provider MobiPay and their enterprise resource planning (ERP) system for Woermann Brock, a major client at the forefront of retail developments.

Mobi-payments 101: How does it work?

MobiPay works like a bank, but it operates with your cellphone. The client registers with MobiPay, after which they get an account number that is the same as their cellphone number. As a client, you can deposit money into MobiPay and withdraw it just like you would do when you’re at the bank.  

Mobi-payments and retail

MobiPay places a device next to a till point. When the client wants to pay using their cellphone, the cashier uses the device to do the transaction. The client’s account number is typed into the device and the device makes a call to MobiPay. MobiPay then calls the client’s cellphone, which is then placed next to the device. The device verifies the client’s details.

If the transaction is approved, a unique reference number is send to the client’s cellphone. The client then gives the reference number to the cashier, which types it into the QBFin. QBFin connects to MobiPay where the reference number is verified and the transaction is complete.

It may sound like a long process, but this happens really fast.

QBFin and Woermann Brock

QBCon’s QBFin was integrated with MobiPay to provide a payment option for Namibian retail group, Woermann Brock. This new venture helps Woermann Brock’s clients to pay for their groceries using MobiPay, deposit money into a MobiPay account and withdraw money from the MobiPay account. Clients and merchants can manage their accounts via the MobiPay website.

Benefits of mobile payments to the consumer:
• Mobile payments are cheaper than banks;
• Mobile payments are secure;
• Mobile payments are convenient (buy airtime and electricity from home);
• Mobile payments are fast – money is available immediately;
• Mobile payments are available to everyone, on any cellphone and on any network;
• Mobile payments saves you time.

Benefits of mobile payments to the merchant:
• Reaches new target groups, such as the unbanked, migrant workers and the
youth market;
• Boosts revenue per customer and increases transactions by providing a new
channel to existing customers;
• Separates brand from the competition by offering modern, customer-focused
services;
• Provides customers with a convenient, secure and instant service;
• Savings in banking fees;
• Commission received for cash payouts.

Terminology

Merchant / Agent: Retail outlet where a MobiPay device is hosted. The merchant needs to recon every transaction to recover the client’s payments and withdrawals from MobiPay, and to transfer the deposits made by the client to MobiPay.

QBFin: ERP-system installed on the till point.

ERP system: Enterprise Resource Planning system. 

Device: A cellphone that is provided by MobiPay to the merchant.  The device is placed next to the till point.