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Cash out of eMoney Wallets

Cash out of eMoney Wallets

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Youtap are demystifying the use of eMoney wallets and an important use case is “cash out” – i.e. how do I cash out of my wallet? Here are the options:

Cash-out methodsExample flow
At agent – general flowAgents enters cash-out amount Agent takes payment from customer wallet (such as by scanning the consumer’s QR code or entering their phone number) Consumer receives one-time PIN via SMS Agent enters one-time PIN PIN is verified and transaction completes Agent hands cash to consumer Consumer receives notification of cash-out with new wallet balance
At agent – via agent dynamic QR codeAgent enters cash-out amount Agent’s app generates a dynamic QR code Consumer scans QR code and verifies the transaction with their PIN on own device Agent hands cash to consumer Both agent and consumer are notified of successful transaction
At agent – via consumer QR codeAgent enters cash-out amount Consumer presents their in-app QR code Agent scans the consumer’s QR code and confirms the transaction on own device Agent hands cash to consumer Both agent and consumer are notified of successful transaction
At ATMWith Visa/Mastercard wallet or proprietary debit card companion cardExample flow: Insert your card into the ATM Enter your PIN and amount Retrieve amount

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