Biz4x Release 2.11: Debuting A New Dedicated Retail Transaction Screen

Biz4x release 2.11 marks the start of a series of improvements when it comes to Business Management, the first of which is a new dedicated retail transaction screen. The new retail transaction screen features significant improvements in the way money service businesses input their retail transactions, and will serve as the basis for many other features that the community has requested for.

The dedicated retail transaction screen comprises three sections: Customer Details, Deal and Settlement.

Customer Details

Greater Accuracy in Search Result

If you are searching for details of a customer that has already been entered into the system, you will see that the search display now provides distinguishable details such as nationality and date of birth to identify the correct customer if they have the same name.

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Select the correct entry, and the customer details will be displayed under the Deal section.

Deal

Activity Summary

For customers that are already registered in the system, the dedicated transaction screen offers an overview of and provides greater insights on the customer's past transaction history with details such as:

• No. of days since last visit
• No. of transactions in the past 30 days
• Value of transactions in the past 30 days (local currency)
• Requested currencies
• Summary of previous transactions
• Notes on the customer
• Extra customer travel information

As with before, tellers can run a compliance check on any customer at the point of recording these details to see if the customer matches with any result from a global risk intelligence database. The activity summary helps provide more historical context for a customer's transactions and, together with Policy Enforcement, assists in identifying any suspicious activity as well.

Stock Cost

The deal section provides greater visibility when it comes to your current inventory and cost of stock. While recording a transaction, you will be able to see the amount of stock you have of the requested currency, as well as its cost. This will facilitate pricing decisions to ensure you never sell at a loss.

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Transaction Details

Your set-up in compliance policy enforcement will continue to govern your retail transactions. We have relabeled some items under transaction details. While Purpose and Source of Fund remains the same, the following labels have changed.

• Payment Method is now known as Collection Method (Cash, card etc), which refers to the method that the MC uses to collect payment from customers
• Collection Method is now known as Fulfilment Method (self-service collection of cash from outlet or delivery), which refers to the exchange that takes place before a transaction is settled.

These labels are now clearly displayed above the corresponding fields.

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Settlement

Collection and Payment

Under Settlement, details of the currency and amount that the MC must collect from and pay to the customer for the exchange to be completed is clearly listed.

Receipts

At the point of recording the transaction, the teller can Settle the transaction and choose one of the two available receipt formats for printing transaction details.

Here are some other rules to note when working on the dedicated transaction screen:

• Customer details input is not mandatory if Policy Enforcement does not prompt for these details.
• Creating a new customer through the transaction screen or dashboard is restricted to the walk-in customer type. For other customer types (corporate etc), the customer record must be created in Customer module and subsequently accessed or selected on the transaction screen.
• Under settings for Roles and Permissions, Manage rights for Customers allow the user to search/select/create customers on the transaction screen. View only rights prevents the user from accessing the customer details section, so the user is only allowed to create transactions without any customer details.

As mentioned, we will be adding more advanced features in the releases to come, so do send us your feedback on the new retail transaction screen at support@biz4x.com. We look forward to hearing from you soon!