Is there any plan in place for a cash out options for small merchants say at spaza shops in South Africa? Say for example, a small merchant is willing to sell items at his informal shop in exchange for ETN from clients, but wants an option to exchange the ETN his shop has made for cash. Keeping in mind that small merchants needs to buy stock and currently there are no larger wholesalers accepting ETN. Will there be any ETN agents on the ground in South Africa who can facilitate an ETN for FIAT exchange? In a way that’s not to complex for informal traders to use? Many informal traders do not have or use bank accounts, so a system needs to be made that allows for easy cash out options.
A solution might be for till point cashout at Picknpay and checkers till points. Most banks in South Africa allow for cashout at tills. The fee is roughly R1.00 (10.8ETN) per transaction, max R1000 out at a time.
Possibly ETN could negotiate with PnP, Checkers and PEP stores about ETN to FIAT cash out, which the informal sector could then tie into?