International Money Transfer

By far the largest group of users of international remittance services are migrant workers sending funds back to their families in their home country to provide for day-to-day living expenses and to provide a cushion against emergencies. This solution can be deployed by Money Transfer Operators (MTOs) and other financial organisations. It supports the business rules and transactions flow to cater for agent-assisted and online, multi-currency transfers, with the funds being collected as cash from an agent or deposited in a bank or mobile money account of the recipient’s choice.


How it works

The remitter can use an online portal, mobile app, or agent assistance to provide the remittance details. The payment method can vary from cash, credit/debit card, or bank transfer. A unique transaction identifier is provided to the remitter, and they must send this to the recipient as authentication to enable them to collect the funds. After providing and confirming the recipient details, transfer amount, currency and expiry time for collection, the money is rapidly transferred and can be collected by the recipient from a bank account deposit, or cash via an agent or partner bank ATM.


Benefits with Novatti

  • Flexibility of collection, with recipient funds being collected as cash from a registered agent or ATM, or deposited into the beneficiary’s bank account
  • Complementary modules for mobile money and international top-up
  • Flexible operations through management of forex rates and fees
  • Comprehensive reporting to monitor business performance
  • Meet local regulatory requirements through the configuration of business rules and integration to KYC (know your customer), AML (anti-money laundering), and associated services
  • Benefit from transaction capability to cater for peak holidays and festival times, maximising straight-through processing (STP) rates
  • Be recognised as a reliable provider of remittance services with enhanced security through maintenance of a full audit trail

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