blink182: Brilliant idea, I wish you had the technical know how to make it a reality.

ojsmscom:
AM WORKING TOWARDS ITS ACTUALIZATION IF ONLY I CAN GET MY REQUIRED SUPPORT
I DONT MEAN FINANCIAL SUPPORT BUT KNOWLEDGE CONTRIBUTIONS

bigtt76: Not practicable because the face value of the recharge cards not the same as the actual value. A lot of discounts, taxes are involved meaning the network operators would incurr loses doing this.

bigtt76: Not practicable because the face value of the recharge cards not the same as the actual value. A lot of discounts, taxes are involved meaning the network operators would incurr loses doing this.

blink182: What are you talking about, what is our business with the telcos? We buy our cards and load even transfer with the channels already available. What this business does is to convert airtime to cash. The business charges 2% of whatever amount is to be converted. So every million naira brings in a profit of twenty thousand naira. The problem now is what happens to the returned airtime? The higher the amount converted the higher refunds networks have to deal with. If this issue can be solved then we can get somewhere with this.

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After thinking, I believe the way out is to create an outlet to sell airtime on a large scale. The CBN or any big financial system is not needed. The charges have to go up to 5% and the profit is not made at exchange of air time for money point but when the airtime is sold at face value. This is just one suggestion.

suolboy: I think what I understand here is, since we can recharge our phones through ATM of our bank accounts, we should be able to deposit to our bank accounts from the airtime of our phones. We need a reversed order of what is already in existence if am right Op.

bigtt76: Your business with the telecos will how to detect valid recharge cards from used ones, separate the cards into different networks.

Reselling would also pose an issue as these cards also expire after the lapse their shelf life.

I know back then, recharge cards were the easiest mode of transfer for cash based transaction needs but then it was more effective because of the numerous call centers around then ready to buy the sent cards for less the face value. These days with almost every payment platform having recharge card vending system, it would be difficult dispensing your stock.

Guy abeg think other solutions joooor

ojsmscom:
my dear,you have the holistical understanding of the entire issue.take for instance dat u want to recharge 500naira airtime from atm to ur phone and you mistakenly added N5,000, this system if enabled can finally enable you transfer back the excess N4,500 to ur bank account without lost of value.

blink182: I see you are bent on killing this idea and your mind is closed to assimilating anything on the good side.

bigtt76: Not so my dear. I work with a payment gateway and we had explored all this options way back and came out with the pros and cons which gave rise to the mobile money ish you have on the market now.

Its just going to be difficult except everyone is ready to bear the hidden loss -network operatirs, subscribers etc.

Goodluck to you guys though. Let me not be your showstopper.

blink182: this is what I wanted to hear from you. That you are truly knowledgeable in the field and were not just talking sentimentally