--- title: Why Expanded Access Sets Your Money Transfer Offering Apart description: Learn how Electrum’s Money Transfer enables banks to exceed customer expectations through an expansive retail network and robust cash voucher solution. image: https://blog.electrum.co.za/hubfs/Money_Transfer_Blog_25%20compressed.png --- [![Electrum](https://blog.electrum.co.za/hs-fs/hubfs/raw_assets/public/Electrum_October2023/images/header-logo.png?width=500&height=150&name=header-logo.png "Electrum")](https://www.electrum.co.za/) ![Back Button](https://blog.electrum.co.za/hubfs/raw_assets/public/Electrum_October2023/images/back.svg) Back ![Close Hamburger](https://blog.electrum.co.za/hubfs/raw_assets/public/Electrum_October2023/images/close.svg) - [Home](https://www.electrum.co.za/) - Schemes - Schemes - Clearing House Payments - [PayShap](https://www.electrum.co.za/schemes/payshap) - [Real-Time Clearing](https://www.electrum.co.za/schemes/real-time-clearing) - [EFT Debit & Credit](https://www.electrum.co.za/schemes/electronic-funds-transfer) - 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[Account Verification Services](https://www.electrum.co.za/schemes/account-verification-services) - Alternative Payment Methods - [Cash Vouchers](https://www.electrum.co.za/payments/cash-vouchers) - Value-Added Services - [Prepaid Airtime and Data](https://www.electrum.co.za/digital-goods-and-services/prepaid-airtime-and-data) - [Prepaid Electricity](https://www.electrum.co.za/digital-goods-and-services/prepaid-electricity) - [Bill Payments](https://www.electrum.co.za/digital-goods-and-services/bill-payments) - [LOTTO](https://www.electrum.co.za/digital-goods-and-services/lotto) - [Betting](https://www.electrum.co.za/digital-goods-and-services/betting) - [Travel and Event Ticketing](https://www.electrum.co.za/digital-goods-and-services/travel-and-event-ticketing) - [Digital Vouchers](https://www.electrum.co.za/digital-goods-and-services/digital-vouchers) - Solutions - [Clearing House Payments Modernisation](https://www.electrum.co.za/solutions/clearing-house-payments-modernisation-for-existing-banks) - [Turnkey Clearing House Payments](https://www.electrum.co.za/solutions/turnkey-clearing-house-payments-for-new-banks) - [Enterprise Payments Channel](https://www.electrum.co.za/solutions/enterprise-payments-channel) - [PayShap-Ready QR Code Issuing](https://www.electrum.co.za/solutions/payshap-ready-qr-code-issuing) - [PayShap for Retailers](https://www.electrum.co.za/solutions/payshap-for-retailers) - [Cash Voucher Issuing and Distribution for Banks](https://www.electrum.co.za/solutions/cash-voucher-issuing-and-distribution-for-banks) - [Cash Voucher Retail Expansion for Banks](https://www.electrum.co.za/solutions/cash-voucher-retail-expansion-for-banks) - [Retail Cash-In and Cash-Out Expansion](https://www.electrum.co.za/solutions/retail-cash-in-and-cash-out-expansion) - [High Volume POS-Integrated VAS Services](https://www.electrum.co.za/solutions/high-volume-pos-integrated-vas-services) - [Expanded VAS For High-Growth Digital Channels](https://www.electrum.co.za/solutions/expanded-vas-for-high-growth-digital-channels) - [Developers](https://api.electrum.io/) - Resources - Documentation - [Implementation Guides](https://www.electrum.co.za/documentation/product-guides) - [Solution Updates](https://www.electrum.co.za/solution-updates) - News - [Blog](https://blog.electrum.co.za/?__hstc=17958374.bff00b489d6fac1f58737d8799a2a91d.1721396613638.1724837978417.1724842684665.23&__hssc=17958374.47.1724842684665&__hsfp=3812773586) - [Press Releases](https://www.electrum.co.za/press-releases) - Insights - [Reports, whitepapers & flyers](https://www.electrum.co.za/insights) - Careers - [Jobs & Opportunities](https://www.electrum.co.za/careers) - [Interview Process](https://www.electrum.co.za/careers/interview-process) - [Trust](https://trust.electrumsoftware.com/) [![Contact](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/142132879/7f102097-b88c-49fd-b727-90c8e1009d5a.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/142132879/7f102097-b88c-49fd-b727-90c8e1009d5a) ![Hamburger](https://blog.electrum.co.za/hubfs/raw_assets/public/Electrum_October2023/images/hamburger.svg) [Banks](https://blog.electrum.co.za/tag/banks) [Money Transfer](https://blog.electrum.co.za/tag/money-transfer) [Business Case](https://blog.electrum.co.za/tag/business-case) [VAS](https://blog.electrum.co.za/tag/vas) # Why Expanded Access Sets Your Money Transfer Offering Apart January 31, 2025 ![Kganya Molefe](https://blog.electrum.co.za/hubfs/Blog%20Assets/Author%20Images/Kganya%20Molefe.jpeg) Kganya Molefe ![Post Header](https://blog.electrum.co.za/hubfs/raw_assets/public/Electrum_October2023/images/banner-bg.svg) ![Why Expanded Access Sets Your Money Transfer Offering Apart](https://blog.electrum.co.za/hubfs/Money_Transfer_Blog_25%20compressed.png) Money transfers are an essential payments service for any bank that wants to play in the cash space without the high cost of cash handling. What can banks do to ensure their solution meets their customers' expectations?  Cash is the heartbeat of South Africa’s payments ecosystem and therefore too significant to overlook or replace in a bank’s payments strategy. Money transfer solutions act as a digital vehicle to transfer cash and have reduced the friction, safety and cost of carrying physical cash for consumers. Consequently, it has quickly become a staple payment method in South Africa.  The rising demand has saturated the market with money transfer and cash voucher solutions offered by banks, retailers, mobile network operators, and payment service providers (PSP). Banks need to provide a market-leading money transfer solution in order to stand out to users and be competitive in the industry. > This can be achieved by focusing on your user experience and accessibility. ## Facilitate transactions with the unbanked Money transfers have a peer-to-peer (P2P) component for sending money between accounts. They also function as a payment service for account holders to transact with unbanked citizens and foreign nationals.  [Approximately 15%](https://www.worldbank.org/en/publication/globalfindex/brief/financial-inclusion-in-sub-saharan-africa-overview) of South Africans are unbanked, and foreign nationals face barriers to opening bank accounts due to insufficient documentation. Therefore, being competitive involves facilitating cash-in and cash-out transactions between your account holders and the unbanked. When you simplify these transactions for your account holders, your payments portfolio becomes more financially inclusive, potentially increasing deposits and driving revenue growth.  ## Provide a strong retail network ATMs have long been a convenient feature for cash withdrawals. However as [security continues to be a concern](https://www.sabric.co.za/media-and-news/press-releases/sabric-reports-significant-increase-in-financial-crime-losses-for-2023/) and banks reduce their ATM footprint to reduce overheads, money transfer users have fewer options to deposit and withdraw. Retailers close the gap by providing more accessible and convenient cash-in and cash-out options for users.  A comprehensive retail network includes both tier-1 retailers as well as a network of smaller merchants that serve rural areas where larger retailers are unavailable. By permeating both metropolitan and remote areas, your solution becomes the most flexible and competitive choice for users to send money.   [Explore Electrum's existing retail network](https://www.electrum.co.za/solutions/cash-voucher-issuing-and-distribution-for-banks)   ## Quickly and easily expand your reach Initially, you may want to focus your efforts on integrating with one major retailer to support your solution but this approach risks leaving you behind the market. Bank account holders, particularly those with multiple banking relationships, choose solutions that have a broader and more accessible network.  Scaling rapidly is inextricably dependent on the systems and resources you choose to build your solution. While [building a proprietary solution](https://blog.electrum.co.za/post/build-or-buy-which-strategy-will-get-you-to-market-on-time-and-within-budget) is an option, it can slow your speed to market. Additionally, allocating essential resources to a technical build risks diverting your focus from strengthening your solution’s value proposition.  **Amplify your retail network with a cloud-native solution** *Client Success Story* Capitec Send Cash’s amplified distribution network has generated revenue of over R 600 million in the last [financial year](https://www.capitecbank.co.za/financial-results/2024/), reflecting 44% growth. As of [August 2024](https://www.capitecbank.co.za/globalassets/pages/investor-relations/financial-results/2025/interim-results/cpihy25.pdf), a total of 1.2 million new clients used the service. Their focus on providing a simple, digital solution has made Send Cash one of the most competitive money transfer services in the market.  With over 11 million bank app users generating over 1.7 billion transactions, Electrum’s cloud-native Money Transfer Service supports Capitec's rapid growth by scaling their solution into the market’s leading retail networks.   ## Deploy and scale at speed with a trusted industry partner If you’re offering money transfer services, provide a complete solution. This includes: - P2P payments between bank accounts. - Cash-in and cash-out cash vouchers to transact with the unbanked. - A true omni-channel experience supporting transactions through your bank app, USSD, ATMs, retail POS, and internet banking.  Electrum’s next-generation technology Money Transfer solution is market-proven and built to connect banks with leading retailers and merchants across South Africa.  ![pep](https://blog.electrum.co.za/hs-fs/hubfs/pep.png?width=1398&height=427&name=pep.png) ![PicknPayLogo](https://blog.electrum.co.za/hs-fs/hubfs/PicknPayLogo.png?width=187&height=36&name=PicknPayLogo.png) ![shoprite red](https://blog.electrum.co.za/hs-fs/hubfs/shoprite%20red.jpg?width=160&height=24&name=shoprite%20red.jpg)   Expand your reach, have control of fees, generate revenue, and optimise resources by implementing a competitive cash voucher issuing and distribution solution powered by our turnkey, cloud-native payments engine.  Learn more about [cash voucher issuing and distribution](https://www.electrum.co.za/solutions/cash-voucher-issuing-and-distribution-for-banks) for banks or [contact us today](mailto:hello@electrum.co.za) to discuss how we can help you.      ![Kganya Molefe](https://blog.electrum.co.za/hubfs/Blog%20Assets/Author%20Images/Kganya%20Molefe.jpeg) Kganya Molefe Kganya is a freelance Content Writer based in Johannesburg with experience in African Payments. When she’s not writing, Kganya enjoys journaling the old-fashioned way, listening to podcasts during her long walks, and passionately discussing the importance of low-cost, real-time, pan-African payment solutions with her friends and family. [More posts by  Kganya Molefe](https://blog.electrum.co.za/author/kganya-molefe) Recent Blog Posts ![Why Some Banking Innovations Work and Others Don’t](https://blog.electrum.co.za/hubfs/Imported_Blog_Media/6257bc262cac51d970b37546_domestic-remittance-feature-2-4.jpeg) ### Why Some Banking Innovations Work and Others Don’t ![Why Fast, Easy Expansion is Key to Accelerating VAS Growth](https://blog.electrum.co.za/hubfs/VAS%20Expansion%20Blog%20Cover-1.png) ### Why Fast, Easy Expansion is Key to Accelerating VAS Growth ![Prepaid Electricity: Make Every Transaction Count](https://blog.electrum.co.za/hubfs/Broadcasting_Blog.png) ### Prepaid Electricity: Make Every Transaction Count # Electrum Newsletter Quarterly insights and news to help you keep up with the latest changes in the payments landscape [![Electrum](https://blog.electrum.co.za/hs-fs/hubfs/Electrum_October2023/Images/footer-logo.png?width=500&height=150&name=footer-logo.png "Electrum")](https://www.electrum.co.za/) ###### Company - [Trust](https://trust.electrumsoftware.com/) - [About us](https://www.electrum.co.za/about-us) - [Press Releases](https://www.electrum.co.za/press-releases) - [Jobs and Opportunities](https://www.electrum.co.za/careers) - [Interview Process](https://www.electrum.co.za/careers/interview-process) ###### Clearing House Payments - [PayShap](https://www.electrum.co.za/schemes/payshap) - [Real-Time Clearing](https://www.electrum.co.za/schemes/real-time-clearing) - [EFT Debit & Credit](https://www.electrum.co.za/schemes/electronic-funds-transfer) - [Account Verification Services](https://www.electrum.co.za/schemes/account-verification-services) ###### Value-Added Services - [Prepaid Airtime and Data](https://www.electrum.co.za/digital-goods-and-services/prepaid-airtime-and-data) - [Prepaid Electricity](https://www.electrum.co.za/digital-goods-and-services/prepaid-electricity) - [Bill Payments](https://www.electrum.co.za/digital-goods-and-services/bill-payments) - [LOTTO](https://www.electrum.co.za/digital-goods-and-services/lotto) - [Travel and Event Ticketing](https://www.electrum.co.za/digital-goods-and-services/travel-and-event-ticketing) - [Digital Vouchers](https://www.electrum.co.za/digital-goods-and-services/digital-vouchers) - [Cash Vouchers](https://www.electrum.co.za/payments/cash-vouchers) ###### Solutions - [Clearing House Payments Modernisation](https://www.electrum.co.za/solutions/clearing-house-payments-modernisation-for-existing-banks) - [Turnkey Clearing House Payments](https://www.electrum.co.za/solutions/turnkey-clearing-house-payments-for-new-banks) - [Enterprise Payments Channel](https://www.electrum.co.za/solutions/enterprise-payments-channel) - [PayShap-Ready QR Code Issuing](https://www.electrum.co.za/solutions/payshap-ready-qr-code-issuing) - [PayShap for Retailers](https://www.electrum.co.za/solutions/payshap-for-retailers) - [Cash Voucher Issuing and Distribution for Banks](https://www.electrum.co.za/solutions/cash-voucher-issuing-and-distribution-for-banks) - [Cash Voucher Retail Expansion for Banks](https://www.electrum.co.za/solutions/cash-voucher-retail-expansion-for-banks) - [Retail Cash-In and Cash-Out Expansion](https://www.electrum.co.za/solutions/retail-cash-in-and-cash-out-expansion) - [High Volume POS-Integrated VAS Services](https://www.electrum.co.za/solutions/high-volume-pos-integrated-vas-services) - [Expanded VAS For High-Growth Digital Channels](https://www.electrum.co.za/solutions/expanded-vas-for-high-growth-digital-channels) ###### Resources - [Implementation Guides](https://www.electrum.co.za/documentation/product-guides) - [Solution Updates](https://www.electrum.co.za/solution-updates) - [Reports, whitepapers & flyers](https://www.electrum.co.za/insights) - [Blog](https://www.electrum.co.za/blog) - [Developer Portal](https://api.electrum.io/) ###### Contact us - [Electrum Payments,Building 3, Podium Level, Riverlands Mall51 Gogosoa StreetObservatoryCape Town 7925, South Africa](https://g.page/ElectrumPayments?share) - [hello@electrum.co.za](mailto:hello@electrum.co.za) - [+27 21 448 6422 (office)](tel:+27214486422) - [+27 21 447 1227 (support)](tel:+27214471227) © 2026 Electrum Payments - 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