Flow of Funds

Example: User from USA wants to send US$ 100 to someone in Liberia

USA Liberia

Flow of Funds

They walk into a shop that sells Phone Calling Cards

Flow of Funds

The Remitter, then proceeds to buy phone minute cards. The amount he/she wants to send, is the

card(s) he will pick. In this case he will pick and pay for the $ 100 calling card.

Flow of Funds

User access a website, and registers (providing their basic KYC information)

Flow of Funds

To initiate a Remittance from US to Liberia, the user fills out all of this information online, on either a

website, which could be running on a tablet or kiosk. Information filled out is Beneficiary Information.

Flow of Funds

User then enters the Calling Card Number + PIN into the system. This will be the $ amount that he wants

to transfer

Remitter

Flow of Funds

This information is checked in real-time from the operators USA system and if the card is valid, the

amount is accepted by the system.

Flow of Funds

The system then informs him that $100 has been credited and his transaction is good to go

Remitter

Flow of Funds

The User accepts this information and a Transaction ID number is generated for the User.

Remitter

Flow of Funds

The back-end system at phone operator will send the transaction details (including remitter

information, beneficiary information, IP, $ Value, Transaction ID, etc.) to MTOs Transaction

Management System.

Phone Operator US MTO

Flow of Funds

Upon the settlement time-frame agreed, the money will be transferred from Phone Operators Bank to

MTOs designated Bank Account. Thus completing the transaction from Phone Operators side.

Phone Operator MTO

Flow of Funds

MTO then transfers the money to the Correspondent MTO (which already has access to the data where

the money has to be credited/delivered)

Correspondent MTOMTO

Flow of Funds

US MTO then updates its database that the transaction has been completed and notifies the

Remitter AND the Beneficiary.