Tagcash provides e-wallet to promote digital cashless economy in Philippines

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https://tagcash.com/

Country: Philippines

Year: 2014

  • Tagcash payment wallets and payment services can be used by merchants and consumers to conduct cashless transactions.
  • Tagcash customers can create and shift from different wallets as well as type of currencies, a unique feature for e-wallets. Tagcash Credits, a combined semi open rewards and payment currency, can be cashed in for 80% of value by a few chosen partner merchants.

Services

Key product offerings include:

  • Tagcash Wallet – The wallets deal with fiat currencies, Bitcoin & Tagcoin, Community Points and Tag Points. Customer can top up TAG Wallet via 7-Eleven, at many Banks or via TAG Agent Network. They can pay for goods and services online or transfer to friends and relatives.
  • Tagcash payment services: Customer can pay via SMS, app or website. They can get a Security Bank/Tagcash Mastercard ATM card and transfer  funds for further spending or cashout via ATM. Tagcash also provides offline payment system – store points or money on NFC wristbands or NFC cards. Customers can use Credit, debit and get balances using NFC enabled mobile phone. The tagcash customer MUST be KYC verified to enable transfer from Agent account.
  • Merchant Community Accounts: Merchants can create account, pay and reward the customers. They can take online payments from customers with no credit cards, by using over the counter or online banking, 7-Eleven, or via Tagcash prefunded eWallets
  • Membership Platform: Membership platform with levels, roles and permissions can be provided to merchants. Merchants can check wallets, charge customers, use integrated NFC and QR to identify customers and give and redeem rewards.
  • Customer Servicing: Chat and VOIP options are available for merchants, where SMS or messages could be blasted to members via associated apps.
  • Closed Loop Currency: Merchants can create their own currency, for internal use, rewards, micropayments etc. which can be further integrated into their sites and apps or with the Tagcash website or Tagcash mobile app.
  • Micropayments: When customer visit online site and are interested to pay multiple small amounts but does not want to enter their PIN code every time,  they are presented with a window to set/ fix an amount that they want to spend in total with that merchant. They enter their ID or email, the amount and their PIN code. Customers can now transact with the merchant and their account is deducted by that amount each time until the amount set is met.  Tagcash charges a monthly fee depending on volume for this kind of service

Benefits

  • For Customers
    • Real time funds transfer with no additional charges for inwards bank transfers
    • Cash-in/ out with minimal charge (1% charge) with withdrawal options from the ATM (other e-wallets do not provide a withdrawal from ATM)
    • Beneficial for users with no credit/debit cards
  • For Merchants
    • Easy On line payments for merchants who find it difficult to get Visa/Mastercard merchant accounts

How it works

Video illustration of Tagcash