The Business of Cybersecurity by Ashwini Sathnur

Author:Ashwini Sathnur [Ashwini Sathnur]
Language: eng
Format: epub
Publisher: Business Expert Press
Published: 2019-05-06T16:00:00+00:00

2.2.1.7 Description

A cash-in transaction requires an eMoney account holder to deposit physical cash at a participating agent of their joint scheme. The agent accepts the cash and transfers e-money to the user’s eMoney account (i.e., mPesa account at an mPesa agent). A cash-out transaction requires an eMoney account holder to transfer e-money to a participating agent of their joint scheme. The agent receives the e-value and gives the user physical cash.

CICO transactions therefore don’t change the total monetary value held on the eMoney provider’s platform (and in the bank trust account); they merely change the ownership of eMoney and physical cash between users and agents of the providers.

Attributes of successful CICO models include: safety (all transactions are PIN based), speed (transaction takes place in real time), and convenience (agent distribution is widespread).

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