JN Money Transfer Goes Online
Internet Remittance Service Now Available
When JN Money Services Limited (JNMS) introduced the JN Money Transfer Card to their remittance toolkit, clients welcomed Jamaica’s first experience with a ‘no line money transfer service.’
JNMS has moved another step to improve its services, adding an online facility which conveniently conveys remittances.
Marketing Manager at JNMS, Denise Gocul, told The JNBS E-Newsletter that the online system at www.jnmoneytransfer.com , allows funds to be sent electronically and be disbursed to recipients in cash or by cheque at locations in seven countries.
These include; Jamaica, the United Kingdom, Canada, The Cayman Islands, St. Vincent and the Grenadines, Dominica and the USA.
How it works
Horace Hines, JNMS Operations Manager, says the service is currently supported by PayQuik, a back-end partner that provides the infrastructure to facilitate the online transfers.
“PayQuik is not a third party in the transaction. The system enables the online transfer process and does not take possession of remitted funds at any time,” he emphasises.
Funds may be sent from either credit card or via electronic cheque. If the credit card option is used the transaction is processed as a debit to the card and not as a cash advance.
However, Mr. Hines points out, that “where the bank charges a cash advance fee for credit card transactions, JNMS recommends that the client uses the Internet cheque service which they provide.
“This is a way to the avoid credit card cash advance fees and access the special money transfer rates which are lower than those charged for the regular remittance service,” he explains.
He further outlines that “funds remitted in the USA are held by a bank which is insured under the Federal Deposit Insurance Corporation and are held by Jamaica National Building Society in Jamaica, pending payment to the recipient.”
Security Features of the System
Special fees, lower than those levied for agent-based transactions, is an advantage of using the online Internet service.
And with global concerns about identity theft, Mr. Hines confi rms that “the system uses a method of ensuring that if the data is hacked, it would be useless to online thieves, it is called 128-bit SSL encryption, and serves to protect all personal identification information that clients submit.”
This data includes customers’ name, address, e-mail address, login ID and password, credit card and bank account details.
He states that payment details for each transaction are also encrypted and stored for the convenience of the consumer who may need transaction records for future reference.
The online tracking facility allows customers to follow the progress of their transfer or monitor the delivery status, knowing who signed to collect the funds. All this information, Miss Gocul says, is accessible with simple click of a mouse.