Glossary

Cash Payment Voucher

A cash payment voucher is a method used primarily in online shopping, where customers are issued a scannable voucher with a unique transaction reference number for their purchase. This voucher does not immediately deduct funds from any account; instead, it allows the customer to make a payment in cash at a later time. To complete the transaction, the customer must take the voucher to a designated payment location, which could be an ATM, bank, convenience store, or supermarket that participates in this payment system.

Once at the payment location, the customer presents the voucher, which is then scanned to access the transaction details. The customer then pays the amount in cash, and the payment is processed on the spot. This system is particularly beneficial for individuals who do not have bank accounts, are wary of online payment security, or simply prefer to pay in cash.

Cash payment vouchers are also used to facilitate bill payments, allowing customers to pay for utilities, phone bills, and other services through physical, cash-based transactions. This payment method bridges the gap between digital commerce and traditional cash transactions, providing flexibility and accessibility to a broader range of consumers.

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