How it Works
Paying with OlyCash
Any website or app that accepts OlyCash shall indicate so before you make payment. A payer needs to have an account with OlyCash. This is obtained by installing the OlyCash app on your phone or approaching an OlyBoss to setup an account for you.
NOTE: An account setup by an OlyBoss requires your confirmation (by responding to an activation SMS sent to your telephone) before you can use it to transact with OlyCash.
To make a payment with OlyCash, enter your Debit code or Credit code in the payment section of the seller or service provider. You shall receive confirmation on your telephone (and email, if provided) about the transaction.
You can convert your cash to a Debit code at your nearest OlyBoss location. This code is used just like cash to make payment online, offline or by phone, wherever OlyCash is accepted.
You can promise to make payment on an item by requesting that the Seller or service provider issues you a Credit code that you can fund at your nearest OlyBoss location. Funding a Credit code has to be done before its expiry date or the item shall be released for selling to another shopper. In case of services paid with Credit code, a provider may request funding before providing the service.
To start accepting payments using OlyCash, you need to setup an account, fund your account to prove that it is valid and then add the OlyCash plugin to your website or app.
When a payment is submitted with a Debit code, you are notified about the payment and funds are instantly added to your OlyCash account as PENDING. The funds are then made AVAILABLE as soon as the buyer receives your item or service. For goods or services provided in advance or real-time, this payment becomes instantly available.
If the payment is submitted with a Credit code, you are notified about the payment and the buyer is allocated the duration of the code expiry period to fund the Credit code. As soon as the Credit code is funded, the amount is added to your OlyCash account as PENDING and held in OlyCash escrow account.
The funds are made AVAILABLE as soon as the buyer receives the goods or services.
Trading in Cash Codes
You can earn money with OlyCash by facilitating the conversion of cash to codes or codes to cash for a fee. You set this fee and your own hours. However, you are encouraged to set the fees for your service at an amount above the OlyCash fee charge but not too high beyond the reach of your customers as this shall affect the quality of service or chase them to a competitor.
To trade in Cash codes, you are referred to as an OlyBoss. To become one, you need to have a funded OlyCash account or a linked electronic account. An OlyBoss is expected to be a business or individual operating as sole proprietor.
You can offer the following services as an OlyBoss to your community:
1. Issue Debit codes to shoppers
2. Fund Credit codes that were issued to shoppers by sellers
3. Cash out Debit codes or refunded Credit codes for shoppers
4. Verify an OlyCash customer
5. Answer questions about OlyCash that a potential customer may have.
As an OlyBoss you are expected to represent OlyCash in the best possible light and be an exemplary individual or business in your community. This way you will win your community’s trust and business.