Two new Deposit and Send Money services have
been added to the VodaPay super app. The innovation is the latest step in
Vodacom Financial and Digital Lifestyle Services quest to make financial
inclusion a reality for all South Africans.
“VodaPay’s new Deposit and Send Money
services support our intention to accelerate digital and financial inclusion.
Both banked and unbanked users can deposit and/or send money from their VodaPay
Wallet, securely, cost-effectively, and instantly. By building broader, more
convenient offerings onto VodaPay, such as deposit and cash-out networks, we
aim to enable more people to use and benefit from digital financial services,” says Mariam Cassim,
Chief Executive Officer of Vodacom Financial and Digital Lifestyle
Services.
VodaPay’s
Deposit Money function makes it possible for users to add cash for free into
their VodaPay Wallet through Vodacom stores and selected national retailers such
as Pick n Pay and Pick n Pay Express, Boxer, PEP, Ackermans, Makro, Rhino Cash
‘n Carry, Game, Builders Warehouse and Cambridge Food. Customers can even
deposit money to their VodaPay Wallet at their nearest Spaza shop through
Kazang merchants. With cash loaded in their VodaPay Wallets, customers can buy
products or make payments online with VodaPay as well as earn rewards or take
advantage of great daily deals.
Customers
can use the money in their VodaPay Wallets to buy electricity, airtime and
data, as well as to pay bills without incurring extra charges. The digital
Wallet also offers a secure way for users to store their money as it eliminates
the need to carry cash.
“While digital payments are growing in
South Africa, we understand that cash is still an important part of many of our
customers’ daily financial transactions. For both unbanked and banked customers
who want the convenience and unmatched benefits of the VodaPay Wallet, the
Deposit and Send Money service is a convenient and secure method to store and
access money. We have also chosen specific partner channels that make the
service even easier and simpler to use,” adds Cassim.
To
use the Send Money service, the sender needs to log into VodaPay, select the
Send Money option, choose a cash-out partner and specify the amount they wish
to send to the receiver. Once the money has been sent, the receiver, can
withdraw the physical cash from the chosen cash-out outlet. VodaPay cash-out
partners include Pick n Pay and Kazang, as well as Cash Express ATMs and OTT
agents. There is no limit to the amount of cash that may be sent, but a fee of
R8 plus 1% for money withdrawn at retailers and a fee of R8 plus 2% for money
withdrawn at ATMs will apply.
VodaPay
makes it possible for people to deposit money into a VodaPay Wallet, then use
that money to make payments, transfer money or buy products from a variety of
retailers. Some of the partners on VodaPay include brands such as Makro,
Builders’ Warehouse, Clicks, Edgars, Game, Exclusive Books, Hirsch’s, Kit Kat,
KFC, TravelStart, Afritrails, Booking.com, Wimpy, Sorbet,
FlightSite, NetFlorist, Planet54, Flook and OneCart). VodaPay is available to
customers across all mobile networks in South Africa, and users can use their
debit or credit cards to transact on the app.
“As we continue to innovate and seek
digital solutions for our customers, we look forward to bringing even more
offerings to VodaPay as the year continues,” concludes Cassim.
