How it Works
Creating an Account
An OlyCash account is a universal account you can use to log into your OlyPages, OlyCash, and other services in the OlyCash ecosystem. It is automagically created when you do any of the following;
- Download OlyCash App and log in with Facebook
- Post an item for sale at OlyPages
- Buy from OlyPages or make a payment on any website or app where OlyCash is accepted
- Get an invitation from an existing OlyCash user
- Approach your nearest OlyCash agent (OlyBoss) for registration and verification
- Receive your first payment from an OlyCash user
- Contact us
NOTE: An account setup through an invite requires your confirmation (by responding to an activation SMS or email sent to your telephone or email address) before you can use it to transact with OlyCash.
Paying with OlyCash
Any website or app that accepts OlyCash shall indicate so before you make a payment. Payments are made with your Debit Code, Mobile Money, Card, PayPal or Credit Code. All methods except the Debit Code do not require prior membership to make or receive a payment. An OlyCash account is obtained when you pay or are paid by an OlyCash user. Otherwise, create an account.
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.
Use a Debit Code to make a no-charge payment. A Debit Code is a non-reloadable, PIN secured, electronic giftcard (in form of a code) issued against funds you give to the business which you can use to make future payments until depleted.
It can be either:
• Secured (green) - For which funds are escrowed with OlyCash.
• Unsecured (blue) - For which funds are escrowed with the seller.
Obtain your Secured Debit Code using your account by "Withdraw to Debit Code" in the OlyCash app or an Unsecured one at your nearest Seller or OlyBoss location. You receive a notification of Debit Code usage and new balance after completion of a purchase.
You can promise to make a 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 service provider may request funding before providing the service.
Make Direct Payments: Make a direct payment to any valid telephone, email contact or at Seller Stores where you see the OlyCash Seller Poster. Choose to pay from your available balance or Debit Code and confirm the payment with your secure four-digit PIN.
To start accepting payments using OlyCash, create an account. Continue to add an OlyCash Plugin to your website/app or send a Payment Request to a payer’s email address through OlyPages.
When a payment is made with a Debit Code, you are notified about the payment and funds are instantly added to your OlyCash account as PENDING. Your funds are made AVAILABLE for withdrawal as soon as the buyer receives the ordered item or service. For donations, goods or services provided in advance or in real-time, funds are instantly made 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.
The funds are made AVAILABLE as soon as the buyer receives the goods or services.
Receive Direct Payments: Instantly generate your Seller Poster from the OlyCash app by going to Seller > Settings > My Seller Poster. Print the poster and place it in a visible spot at your premises to accept direct payments from shoppers. Alternatively, scan a shopper’s Debit Code and request the shopper to confirm the transaction with their secure four-digit PIN.
Trading in Cash Codes
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 but not too high beyond the reach of your customers as this shall affect the quality of service or drive them to a competitor.
To trade in cash codes, you are referred to as an OlyBoss. To become an OlyBoss, you need to have a funded OlyCash account or a linked electronic account. An OlyBoss is expected to be an established business or an individual operating as a sole proprietor.
You can offer the following services as an OlyBoss to your community;
- Issue Debit Codes to shoppers
- Fund Credit Codes that were issued to shoppers by sellers
- Cash out Debit Codes or refunded Credit Codes for shoppers
- Verify an OlyCash customer
- 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.