A money transfer kiosk is a self-service terminal which facilitate the process of money transfer and deliver a self-service experience. The self-service money transfer kiosks are a great tool to enhance customer experience with quicker and satisfactory service delivery. The interactive self-service kiosk are a great way to offer a self-service experience to your customers while reducing the service delivery cost which ensures high ROI. In Dubai, Sharjah, Abu Dhabi or anywhere else in UAE the expat population regularly uses money transfer services, most of the customers prefer to visit an exchange to send remittances. However, during peak days there could be very long waiting line which undermine the user experience and also effect brand reputation. That is why exchanges, bans and other financial organizations uses money transfer kiosk. A money transfer kiosk is not much different from an ordinary bill payment kiosk, additional authentication and security layers are added to the system to make transactions secure and error-free. Your customers can enjoy sending remittances or transferring money to any available beneficiary with a simple and easy-to-operate UI (user interface).
The multi-lingual interfaces and integrated instant help mechanisms make the customer journey shorter and simpler and help businesses achieve the higher customer satisfaction. The money exchanges need to build a solid customer-base in order to survive and thrive in the competitive environment of UAE. The tough competition is not the only challenge, in fact the customers in UAE are also very savvy. A business must meet and exceed their expectations in order to delight them. That is why the money transfer kiosks are the best way to offer a delightful customer experience. Furthermore there is another big challenge which is expanding the reach and making your business more accessible to customers. The money transfer kiosks are a very cost-effective alternate to opening up new branches or offices which is not only very expensive, but also increase operational cost and complicate management. In this blog we will discuss what a money transfer kiosk is and how they can greatly benefit both customers and money exchange businesses.
What Features a Money Transfer Kiosk Offers?
A money transfer kiosk a self-service interactive kiosk which are designed exclusively to serve a particular purpose. There are two major categories, indoor and outdoor kiosks and the both categories can be customized as per the customer needs. The kiosk serves as an alternative service channel and can be deployed within the premises of the exchange to reduce the workload of the service staff. The money transfer kiosk are also widely deployed on remote locations, such as in banks, malls, bus/train stations, airports and other public places where it can be reached easily. This not only give customers more freedom and accessibility but it also expand business’s reach and allow businesses to reach out to the targeted audiences without having a huge toll on their operational cost and profits. Here are the general specs of a money transfer kiosk:
- High quality Interactive touch screen display with an optional supplementary screen to display live currency rates
- A computing module with customizable Windows or Android configurations
- Network connectivity with Ethernet/LAN, WiFi or 3G/4G GSM module
- A cash accepting module with currency authenticator, laser-based identifier, recycler and change return components
- A thermal printer for receipt printing with customized receipt design and voucher printing
- Emirates ID Card scanner and biometrics (fingerprint) scanner for customer identification
- HD Facial Recognition camera and additional CCTV Security cameras
- Optional – RFID Scanner, Barcode/QR Code Reader, Smart Payment (Google/Apple Pay), etc.
- For outdoor kiosk specialized components, weather-proofing and cooling solution
- Customized money transfer kiosk management software and application
- Third-party system integration – payment gateway, payment services, central information center, smartphone application, web portals, information management system, etc.
- Direct access to customer service center via phone, live chat or WhatsApp
A money transfer kiosk can offer a variety of features and services too, it depends on business needs. Technically the software and hardware are very flexible and widely available. The customization further help businesses introduce innovative features and services which can give them a great competitive advantage and help them retaining the valuable customers.
What are the advantages of a Money Transfer Kiosk?
A money transfer kiosk offer so many advantages which can help businesses obtain maximum customer satisfaction and operational efficiency. A money transfer kiosk can act as an alternate of your branch which is a great tool to expand your customer reach without investing huge chunks of your hard-earned profits. Here are some key advantages of Money Transfer Kiosk:
- Extend Accessibility and Reach to 24/7: Every customers love the idea of getting access to the services they need at any time of their convenience. However, with the customer service centers and branches the biggest problem is that the customers are bound to operating hours and they also face large waiting lines during busy days of the month. However, the money transfer kiosk allow customers to get instant service at any time and day of the month without impacting their schedules and engaging them in long waiting lines.
- Improve Operations and Reduce Cost: The operational efficiency is essential for any business’s success and growth. Every exchange business knows that at least the first week of every month is the busiest time for sending remittances. Adding money transfer kiosks will not only help you service more customers but it will also have a positive impact on your employee’s performance and operational efficiency. However, adding more service counters will cost you monthly salaries and more which is why the per-service cost is greatly reduced.
- Better Resource Management: Adding money transfer kiosks means that a bank or exchange business can extend their working hours to 24/7 without hiring more employees and at the same time businesses can also install money transfer kiosks on places where they don’t have any branch, that will help them to reach out to more customers and help them increase their sales. Furthermore installing money transfer kiosk in existing branches will help them reduce workload of the employee which can significantly improve employee performance.
- Improve Communication: The money transfer kiosk is a digital system which offer a lot of software enabled features, the personalized communication and experience are some of the key advantages of digital kiosks. Businesses can send personalized messages, information, promotions and marketing content directly to the customers while they are interacting with the money transfer kiosk and can significantly improve the impact of their communication.
- Easy Scalability and Upgrade: The money transfer kiosks are interactive self-service terminals with a centralized kiosk management software hence adding more kiosks is seamless and very cost-efficient. Furthermore it is much easier to upgrade the money transfer kiosk software, adding more services, customizing the interfaces and adding more feature is easy and cost-effective. These features, long lifecycle, and low cost maintenance ensures an excellent ROI for businesses.
- Low Risk in Deployment: The money transfer kiosk costs just a fraction of what opening up a new branch or even adding more service counter would cost a business. This means that there is very less risk involved in deploying money transfer kiosks in both on-premises and off-premises locations. Above all you can easily relocate them which also minimize the risk comparing to opening up a new branch and then closing it after some time.
- Collect Business Intelligence Data: The modern businesses intensively rely on analytical data and insights to take decisions and make policies. The money transfer kiosk can produce a wealth of highly impactful business intelligence data. It can capture analytical data and system usage details form each and every touch point of the customer journey. The money transfer kiosks can also effectively collect customer feedback data which can be very helpful in decision making process.
Moreover every business has unique business needs, and every businesses have different offerings for their customers. Businesses can leverage the money transfer kiosk technology and customize it as per their needs to deliver a unique and exclusive customer experience which is essential for retaining your customers and building a great brand image.
Can Money Transfer Kiosk Offer Other Services?
Of course, yes. The money transfer kiosk is a very flexible and technologically advanced platform. It can be used for achieving full digital transformation for the branch or entire business. Depositing to account, paying bills, sending remittances, local transfers and making payment to integrated channels, paying fines, paying for government services, utilizing banking services, opening up new accounts, card issuance, cheque deposit, etc. are namely a few services that can be offered through money transfer kiosks. Furthermore a money transfer kiosk is a fully customized solution which allow businesses to integrate as many services and features as they want. A money transfer kiosk is a self-service interactive kiosk with ability to integrate a wide variety of software and hardware accessories which enable the businesses to offer innovative services and a great digital experience to their customers. The money transfer kiosk platform is built on an AI (artificial intelligence) powered smart software solution which also help the management to improve administration and offer live monitoring, remote management and enable them to gain more control over the kiosk and customer experience.
A money transfer kiosk is a revolutionary solution for exchanges, banks and other similar businesses. It is not just a solution to send remittances but it a very effective branch transformation tool. Businesses can offer a multitude of services, they can deliver excellent customer experience, they can use money transfer kiosks for communication and marketing purposes and they can make direct sales to boost their revenue. The money transfer kiosk is a simple and easy solution to deploy and offers a great ROI for businesses in UAE. It offers superior customer experience and the digitalization drive automation and operational efficiency. Businesses can greatly improve their branch productivity and employee performance by deploying money transfer kiosk in their branches. Furthermore a money transfer kiosk is built on a very advanced technology which enable businesses to customize it as per their needs and also make it easier to update, upgrade, and scale in future. The deployment and maintenance and overall operational cost of operating money transfer kiosk is just a fraction of operating a full branch or office which is why it has potential of greatly increasing business’s revenue and profits. In this blog we have explained what a money transfer kiosk is and what its key benefits for a business are. If you want to learn more about the subject or if you are interested in acquiring our tailor-made money transfer kiosk solutions for your business, please feel free to contact us through our Contact Us page or leave a comment in the comment box below and we will get in touch with you soon.