Payout Method
Last updated
Last updated
Here, you will be able to configure which payout methods are available to your company. In this page we will discuss the process of adding and configuring the preferred payout methods.
Watch the training video below for a demonstration on how to setup a payout method.
General Configuration
The process of setting up documents conforms with the method in which other general configurations are done in Mobiloan.
As a reference on how to use the screen layout to add and edit documents rules, refer to the General Configurations section. If you have already done so, you may proceed with the contents of this page.
When adding a new payout method, the will essentially be required to :
Select the Payout Type, which is limited to Cash, EFT, Other and Wallet.
Select the authorized Client Categories and Branches to which the payout method will be effective.
This is shown in the screenshot below
Cash, we recommend that cash be a measure of last resort and only used in emergencies.
EFT, is the same as logging into your bank account and performing a once off or beneficiary payment which is robust, but comes with delays in moving funds from account to another which could be as much as 48 hours.
Other, this is merely just a book journal to affect the payout.
Wallet, This is the electronic wallet managed by First National Bank (a.k.a. "eWallet")and is linked to the client's cell phone number. A client will be paid out into the electronic wallet using the Allps wallet payout functionality and will then be able to draw their money from any FNB ATM using their cell phone number and wallet pin code, which is received via an SMS.
A client may link a Feza Card to the wallet which basically acts as a bank card i.e. it allows users to access their money from any ATM, rather than FNB's traditional eWallet method.
Feza Card Fee
There is a cost associated with issuing Feza cards to clients. The cost may be set to be fully sponsored by your company or paid by the client. This is recognised as the "Withdrawal Fee" as seen below.
