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BlogsIn the financial domain, foreign exchange (or forex) and remittances play a critical role in international money transactions
Exchange houses have relied mainly on human intermediaries and working hours to provide service to their customers. With the rising volume of transactions, customers are now expecting faster and round-the-clock services from exchange houses.
With a self-service solution, exchange houses now have a feasible replacement for their traditional system of working. Apart from easy currency exchanges, a self-service kiosk enables people from across the world to easily send money to their friends and families. Read on to understand how a self-service kiosk can speed up customer service for exchange houses.
Top 5 Money Exchange Services Offered via Self-Service Kiosks As a digital branch, exchange houses can utilize self-service kiosks to extend their services beyond normal working hours. Customers can independently transfer money or complete a currency exchange without the help of any service representative.
Here are 5 services offered by exchange houses through self-service kiosks:
Self-service foreign currency exchange kiosks can serve users 24/7 and be installed at convenient locations such as airports and hotels. Through their user-friendly interfaces, a self-service kiosk can provide foreign currencies in various denominations and at updated exchange rates. For user verification, these kiosks can use either biometric or an authorized ID card, like a passport.
A self-service kiosk can also enable international remittances - or money transfer across countries. Foreign residents can use these easy-to-use kiosks to send money to their families or friends at any time, without any human intervention. Besides eliminating human intermediaries, this mode of payment does not incur the high fees associated with traditional forms of remittances.
Beyond foreign exchange and remittances, self-service kiosks can also facilitate instant bill payments and other services for their customers. For instance, users can utilize these kiosks to purchase tickets and products, as well as to withdraw or deposit cash in their preferred currency.
As a self-service solution for exchange houses, kiosks can allow users to purchase prepaid cards and other financial products. Besides, they can use these kiosks to pay for a variety of prepaid cards, including gift cards, international travel cards, and top-up cards (for telecom services).
With a Money Exchange kiosk, customers no longer need to visit the nearest remittance office or facility. They can easily use these kiosks to open a new remittance account or request related services such as printing the latest remittance statement or viewing the updated balance.
Here are some features to look for when choosing a self-service kiosk solution for currency exchange:
Cash in & out: This feature is necessary for customers wanting to deposit and withdraw cash in their preferred currency.
Customized for the specific needs of foreign exchange houses,
SEDCO’s self-service kiosk solution is designed to enable customers to exchange their currencies and send payments without any human assistance.
SEDCO provides a complete solution that includes advanced hardware with customized software developed by our in-house team.
Here’s why SEDCO’s self-service kiosk solution stands apart from other competitors:
Among customer success stories, Qatar-based Al-Dar Exchange streamlined its customer visits using SEDCO's self-service kiosk solution. Similarly, UAE-based Al Ansari Exchange leveraged their solution to reduce its branch congestion and optimize its customer visits.
Contact us today to learn how SEDCO's self-service kiosks can enhance your money exchange operations.
