What the FAMA mobile money network can do for your business

FAMA Cash is the mobile money network that offers your customers all the flexibility and convenience that they could want and enhances your own bottom line – but only if you offer it. Read on to learn what FAMA is, the range of products and services it offers and how these can be seamlessly integrated into your business to offer value-added payment network services to your customers while at the same time creating a new revenue stream for you.

What is FAMA?

FAMA is a comprehensive, full-featured mobile digital payments marketplace that offers a full range of services to both merchants and consumers. Consumers can experience the convenience of mobile money services, including payments and remittances. For merchants, FAMA serves as a way to accommodate customers’ demands for digital payment services while helping to support marketing and customer service goals with its wide array of additional features and capabilities.

FAMA’s key value proposition is that it is designed with a holistic approach to mobile money network and complementary services. The FAMA portfolio includes solutions for all components of the payments ecosystem, such as digital payment and money transfer services, customer loyalty programs, e-coupons and special sales offers, combined with the critical support that you need in processing and big data services. FAMA’s easy-to-use solution even helps to support and enhance brand awareness for your business with a white label option.

Key objectives for any business are built into FAMA payment solutions, and by putting FAMA to work for your business, you can be assured that you will deliver a rewarding, personalized experience for your customers, boosting customer retention rates, increasing foot and online traffic and expanding your business’s market reach.

The FAMA product and service offering

FAMA offers a wide array of products and services, covering every part of the digital payments ecosystem:

  • Payments processing. This pertains to processing services for stored value, credit, debit and other types of cashless customer payment options for goods and services.
  • P2P payments. These are payment services for domestic money transfers, including an option for charitable donations.
  • Remittances. These are services for money transfers to and from countries abroad.
  • Stored value/savings. The FAMA platform offers customers the option of an e-money account that can be used for savings or expenditures.
  • Bill payments. FAMA can be used by customers for quick and convenient payment of bills for utilities and other services.
  • Global airtime load/top-up. Customers can purchase cellular phone and data minutes through the FAMA application.
  • Phone dialer. FAMA includes a mobile dialer app to help to facilitate calls, messaging and contact list management for the customer.
  • Gift cards. These include digital gift cards that can be delivered to a customer’s mobile phone or sent as a gift to another user. They can also be used for purchases at participating online or physical stores.
  • Coupons/deals/loyalty programs. Products used as part of a marketing program help to increase sales, attract new customers and improve customer retention by offering purchase incentives to customers through the digital application.

Along with the digital products, FAMA offers extensive services for merchants:

  • Mobile marketing programs. FAMA can help to develop a customized marketing program with specific targets for your business, utilizing tools such as e-coupons, customer loyalty programs, special sale deals and others.
  • Big data management. Analysis of demand and sales trends to help to predict which products and services will be most profitable for your business, maximizing your planning and minimizing your costs.
  • Consulting services. FAMA’s consultation services can provide customized payment solutions for medium- and large-sized merchants.

How FAMA eases merchant pain points

Offering your customers mobile money services is quickly becoming a competitive requirement rather than just a value-added option. The FAMA mobile money network can help you turn payment services from a cost center to a new revenue driver for your business.

  • One app that does it all. FAMA solves the problem of having to deal with multiple vendors, multiple funding instruments and a variety of payment and digital solutions by combining capabilities in a single application with omnichannel accessibility.
  • Open and closed loop solutions. FAMA offers both open and closed loop payment options, giving the merchant access to a greater range of services.
  • Flexible and customizable. The FAMA application can easily be configured to meet the exact needs of the business and its customers.
  • Fast and affordable implementation. With a dedicated team of experts and a well-designed implementation process, FAMA can roll out a customized, fully supported solution in as little as 30 to 90 days.
  • Expert consulting services. Choosing the right solution for your customers is made easy by FAMA’s consulting services, which can identify and recommend steps to meet customer needs and respond to market trends.

FAMA pricing for customers

FAMA pricing is designed to be both competitive among mobile money network offerings and to offer incentives to both merchants and customers for using the various services. For customers, some FAMA products are offered free of extra fees or at very low additional cost to encourage use of the platform. Person-to-person money transfers/payments are offered for free, but customers are encouraged to make a charitable donation for using the service.

Global airtime top-up likewise does not add an additional fee for customers; FAMA is instead paid a commission for minutes sold by the operator, which is then shared with the merchant (except when the customer uses his owned stored value for mobile minutes purchases). No fees are charged to customers for maintaining an active stored value/savings account, and for use of the dialer app, fees are only charged after a freemium amount of call minutes has been consumed.

For other services, customers pay a fee for sending a remittance, and from the fee, an incentive is paid to the merchant. Small service fees are also added to bill payments made by customers.

In all cases, whether fees are charged to customers or merchants, they are competitively priced. FAMA also offers merchant incentives for payments processing, airtime top-up and remittances (incentives for both the sending and receiving merchant) to further reduce the cost of fees.

The FAMA implementation process

FAMA makes implementation easy, whether you are a small business that can use FAMA’s solutions with a minimum of customization or a larger business requiring a fully customized white label package.

For small businesses, downloading the FAMA app from the App Store or Google Play can have you offering FAMA products and services to your customers within a matter of hours. Simply download the app from the appropriate host and then sign the online agreement. Once bank accounts for the various services to be offered are set up – which the merchant can do at their convenience ahead of time or before downloading the app – the merchant simply picks which services they wish to offer their customers and can begin using FAMA immediately.

For bigger solutions, the FAMA platform can be implemented and work for your business in as little as 30 to 90 days. Implementation is an eight-step process, beginning with the implementation agreement. FAMA will then work with you to define the scope of your solution requirements and develop a project implementation plan, help with setting up billing and reconciliation processes and fully test the customized package before it is rolled out for your market.

Whether your FAMA solution is large or small, FAMA offers excellent post-launch support, making use of the FAMA products and services even easier and eliminating downtime due to technical issues.

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