Account to ATM service. CashSend allows Absa customers to send money to anyone in South Africa with a cellphone number, regardless of which mobile network they use or which bank they bank with. Send customer must have an ABSA bank account. Offers web Link to external site : Website for Cashsend Absa South Africa |  |
| Brand | |
| Launched in | |
| Status |
Active Register/Log In |
| Launch |
2010 Register/Log In |
| Importance |
Medium Register/Log In |
| Traction |
Very High Upgrade to Bronze |
| Evaluation |
ABSA had probably for the first time got the South Africa Reserve Bank to approve a non-paper based cross border retail forex payment. Although this does little for un-banked users of remittance service, it is a major breakthrough for the banks and applied across a wider range of forex payments could save the South Africa banking industry billions in reduced processing costs, allowing the cost of cross-border payments to fall significantly. Register/Log In |
| Account Type |
Bank Account Register/Log In |
| Business Model | |
| Class |
| Send | Services | Receive | ||||
|---|---|---|---|---|---|---|
 ATM  Mobile  Web |
 Account  Card |
 |
 DMT  IMT  MB  MM |
|
Card  Cash |
ATM Mobile Web |
| Model |
bank based Upgrade to Bronze |
| Who Leads? |
bank led Upgrade to Bronze |
| Reach |
National Upgrade to Bronze |
| Active Users |
2,000,000 Upgrade to Bronze |
| Registered Users |
2,000,000 Upgrade to Bronze |
| Potential Mobile Market (m) |
58.360 Upgrade to Bronze |
| Regulations |
| Persona | |
| Purpose | |
| Active Services | |
| Card Type |
None Register/Log In |
| ServicesDescription |
send from web, mobile or ATM to ANY user in SA giving their mobile no. Upgrade to Bronze |
| Channels | |
| Payment Instruments | |
| Cash I/O Description | |
| Cash I/O No Of Locations | |
| Handsets | |
| Technologies | |
| Interoperability |
All mobile users, Single bank Register/Log In |
| RegistrationProcess |
Sending money with CashSend is quick and easy, and takes less than two minutes using Absa's Internet Banking, Cellphone Banking or an Absa ATM. There are no queues or forms to complete, and there is no registration process for the recipient. Register/Log In |
| Main Segment | Unbanked |
| Segment Description | Ideally suited for urban->rural. |