The BeyondBranches Duka Platform
Duka is built to help Agents work with multiple Banks, Mobile Money Operators, payment processors and other Financial Service providers. The platform can be integrated with payment processing platforms, core banking applications and accounting software to extend services, which would hitherto have been unavailable, to the cash-paying public.
In making this extension possible, the Duka platform helps address the following concerns for all involved:
- Safety, convenience and ease of transaction execution
- Converting cash to virtual money
- Attracting money that circulates in the informal economy into bank vaults
- Making it easier for people to perform transactions
Duka can be used to create payment eco-systems that links cash and electronic money, conveniently but safely. This makes it possible for those that would normally use cash to make payments, to start thinking of using other (non-cash) alternatives. Duka helps create shared agent networks, while reducing the challenges associated with having to use different mobile financial platforms.
Duka enables the Agent to begin performing services without waiting for a service provider to market their services heavily. Makes the agents more comfortable with services, increases quality of service, adoption of the service locally and potentially reduces the need for service providers to pay high commissions
Duka in Action
BeyondBranches has extended the QuickTeller (a value added service platform developed by Interswitch, the largest integrated payment processing service provider in Nigeria) ecosystem further by enabling any customer to deposit cash into any bank account held at any bank in Nigeria at an agent. Using this approach, BeyondBranches has been able to bring the bank within easy reach of those who need to deposit cash quickly and securely.