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Consult Hyperion announce the launch of the TeMS Cash-Based Transfer service

We are pleased to announce the launch of Consult Hyperion’s TAP e-Money Service (TeMS), a robust, low cost “closed loop” electronic payment service, capable of delivering both restricted and unrestricted Cash-Based Transfers (CBTs) to beneficiaries in areas with limited communications to individuals at the Bottom of the Financial Pyramid.
 
TeMS runs on the rails of the already-operational TAP service. The initial pilot of TAP in Nigeria was a great success, which saw more than 10,000 farmers a day registered for Ministry of Agriculture’s Growth Enhancement Scheme (GES) and delivered around $19m of aid to 500,000 subsistence farmers in Nigeria’s FCT and Sokoto states over a 12 week period.
 
TeMS supplements TAP’s e-vouchers with e-cash, which can exist side by side. Beneficiaries can be registered for TeMS in the field, even where there is no mobile network coverage, and walk away with their fully operational TeMS card within minutes.
 
Government and development agencies can then design CBT programmes, targeted at specific groups of recipients, based on the demographic data collected during registration; TeMS then does the rest, delivering the e-cash to their cards without further intervention by the funding agency.
 
Problems around cash delivery, management and agent liquidity are obviated by the closed-loop nature of TeMS. Shopkeepers need a locally-available Android mobile phone, onto which they download the TeMS app and register themselves as merchants (under funding agency supervision). Beneficiaries can then spend their e-cash at TeMS-equipped merchants by simply tapping their TeMS card to the merchant’s mobile phone.
 
Reimbursement (settlement) with the merchant then happens once transactions are reconciled at the TAP Back Office, with funds being transferred by means of the existing financial infrastructure (mobile money or conventional banking). Day to day operation is supported by comprehensive dashboards and reports, available through the TAP Back Office.
 
TeMS can also operate as a ‘companion’ to an existing mobile money account.
 
TeMS is made possible by Consult Hyperion’s in-depth understanding of the EMV global payment standards, and employs industry-standard encryption and data security end to end.
 
For more information please visit TAP and TeMS