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AfroPAY Releases Franchises for its Prepaid Vending Business - AfroPAY has announced a franchise opportunity for wholesalers of prepaid products, like airtime, long distance calling cards and electricity, to utilize AFROPAY secure wireless terminals and its structured virtual distribution system
AfroPAY Releases Franchises for its Prepaid Vending Business

 

NewswireToday - /newswire/ - Cape Town, Western Cape, South Africa, 2007/04/20 - AfroPAY has announced a franchise opportunity for wholesalers of prepaid products, like airtime, long distance calling cards and electricity, to utilize AFROPAY secure wireless terminals and its structured virtual distribution system.

   
 
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By using the AFROPAY system franchisees avoid the use of physical vouchers, eliminating stock theft, dead stock or retail points running out of stock. The discount packages for franchisees are the best available in the market today, and various exciting new products like MzansiMED will be available on the system.

To avoid downtime, AFROPAY also have a bank-linked top-up system, so that wire transfers and deposits made to its ABSA Bank or FNB Bank accounts will reflect immediately on the terminal. The terminal reference is simply required in the reference field of the deposit/transfer instruction.

The AFROPAY offering is a wireless terminal which communicates via GSM/GPRS with an electronic distribution system. Each terminal (or set of terminals) has an associated account in the system into which funds are deposited to pay for voucher stock.

The terminal can therefore enable a merchant to vend various prepaid products, like airtime and electricity, without having to deal with physical voucher stock. The terminal “orders” stock items as they are sold, and prints them out on a built in thermal printer. From there the customer tops up the prepaid service using the PIN number printed on the voucher.

The same terminal which is used to vend prepaid products can also operate as an Electronic Funds Transfer at Point of Sale (EFTPOS) terminal, known as a credit card terminal (although it can also accept debit cards). However, the bank does not allow third parties i.e. AFROPAY or its agents, to make representations on behalf of the bank or sell its products. Therefore we have an agreement with the bank (NEDBANK currently) that we will refer them to clients who are interested in having this facility on the terminal.

Keep in mid that there is no income for AFROPAY or for you as the sales representative, associated with activating EFTPOS on the terminal. So it should only be viewed as an “add-on” to our core offering of prepaid.
Banks typically charge merchants a base fee per month (they may waive this if the monthly card turnover is high enough). Terminals also typically utilize dial-up (Telkom) lines, which cost the merchant an additional monthly fee, as well as per-call charges.

By understanding the costs it may become apparent to the merchant that by simply switching to an AFROPAY terminal as an EFTPOS solution, the rental option already saves him money.

AFROPAY offers the prepaid products at different discounts depending on the sales package chosen. The merchant resells the products at the full face value of the product, and the discount is therefore the merchant’s profit. Each product carries its own discount, and a full schedule of discounts is provided as part of the current price list. For the purpose of illustration we will consider a Telkom R40 prepaid voucher.
Example: Assuming the voucher is provided to the merchant at a 10% discount, the following is the sales scenario.

1. A customer enters the merchant’s shop and asks for a Telkom R40 voucher, handing over R40 to the merchant
2. The merchant enters the VOUCHER TYPE menu on the terminal, and selects the Telkom product set
3. He then selects a Telkom R40 voucher from the list of Telkom products (T40)
4. The terminal asks for the merchant’s PIN CODE (a security feature in the event of the terminal being stolen or someone wishing to print vouchers without the merchant’s knowledge)
5. The terminal then communicates with the Ice Cloud Virtual Logistics System via GPRS, and requests a T40 voucher
6. The Ice Cloud system checks if the terminal has sufficient funds available in its associated account
7. If funds are available a T40 voucher PIN NUMBER is sent back to the terminal
8. The terminal prints the Telkom R40 voucher on thermal paper
9. The merchant tears off the paper voucher and hands it to the customer

The merchant has received R40 from the customer, and is given a 10% discount (R4) as his profit. Therefore the balance (R36) needs to be paid into the Ice Cloud system, while he retains his earnings.

The system runs a 7 day billing cycle. Provided funds are available the merchant can continue to sell products during the 7 day cycle. After 7 days an SMS will be sent to his mobile phone, notifying him of the total sales, and the net amount which needs to be transferred to the Ice Cloud account. In order to identify the funds as being for his account, the merchant inputs his unique terminal ID e.g. ABC001, in the reference field of the transfer instruction (deposit slip if cash is deposited, although a 1.1% cash deposit fee will be levied if he chooses this rather than an electronic funds transfer).

If the available funds are used up before the 7 day cycle an SMS will be sent sooner with the information above, and an electronic funds transfer will have to be done sooner in order for the available funds to be replenished on the system.

Parliament promulgated that all prepaid meters should fall under municipal governing structures, Regional Electricity Distribution Structures (REDS), on 26 October 2006. These are to be established as public entities under the auspices of the Electricity Distribution Industry (EDI) Holdings (Ltd).

We have contracts with many of these, and will continue to ensure we have top level supply agreements in place. However, whilst the restructuring process is underway, we are still constrained by many of the entrenched problems in the current system. We have supply agreements in place with the following suppliers.

ESKOM (National)
City Of Cape Town - Tygerberg
Including: Belhar, Bellville, Boston, Brackenfell, Delmar, Durbanville, Edgemead, Elsiesrivier, Goedemoed, Goodwood, Kenridge, La Rochelle, Mfuleni, Monte Vista, Oakdale, Parow, Parow Valley, Plattekloof, Ravensmead, Tiervlei, Tygerdale, Welgedacht, Welgemoed

City Of Cape Town - Blaauwberg
Including: Atlantis, Mamre, Pella, Melkbosstrand, Bloubergstrand
MSI
Including: Tableview, Strand
POWER MEASUREMENT
Including: Tableview, Strand
DRAKENSTEIN
Including: Paarl, Wellington
STELLENBOSCH
Including: Stellenbosch
BREEDE VALLEY
Including: Worcester
KNYSNA
Including: Knysna
CITY PROPERTY
Including: Pretoria
MANGAUNG/CENTLEC
Including: Bloemfontein
GOVAN MBEKI
Including: Secunda
RICHARD'S BAY
Including: Richard's Bay
RANDFONTEIN
Including: Randfontein
MIDVAAL

Including: Meyerton
NOTE: Taking in consideration that there are currently 287 municipalities, countrywide, with fragmented supply databases, it is difficult to give exact coverage of our system at this point. We have about 110-120 areas covered. Therefore, to be certain, we recommend you obtain three or four meter numbers in any new areas you haven’t place terminals in, and send them to AFROPAY to check if they are connected.

About AFROPAY
AFROPAY (afropay.co.za) is a Cape Town based, national supplier of a "business in a box".

You get:

• 24x7 and fully mobile vending system
• A secure GSM terminal with a GSM call package
• A prepaid merchant account
• The widest range of prepaid products on the market
• Increased revenue due to no stock-outs - guaranteed
• No dead stock
• Optional credit card terminal functionality*
• Easy installation - no telephone lines
• Access control and monitoring of sales per salesperson
• Accurate sales reports per product and per salesperson
• Realtime daily float position (credits available)
• 7 day billing cycle for banking takings net of commissions

This is an ideal way to suplement your income and tap into the lucrative prepaid market.

* You must obtain a Nedbank merchant account.

T: +27 (0)21 421 5094 / F: +27 (0)86 512 4376

 
 
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Written by / Agency / Source: Afropay / CASHIN

 
 

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AfroPAY Releases Franchises for its Prepaid Vending Business

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Publisher Contact: Derick Smith - CASHIN.co.za 
+27 82 4151 333 info[.]afropay.co.za
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Afropay / CASHIN securities in any jurisdiction including any other companies listed or named in this release.

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