Vodacom has added a person-to-person payment service to its VodaPay super app, to enable users to send and receive money.
According to a statement, the new deposit and send money offerings form part of the telco’s financial services unit’s innovation vision. Vodacom Financial and Digital Lifestyle Services aims to make financial inclusion a reality for all South Africans.
VodaPay’s deposit function makes it possible for users to add cash, free of charge, 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 and Cambridge Food.
With cash loaded in their VodaPay Wallets, users can buy productsfrom a variety of retailers or make payments online, as well as send money to recipients.
“VodaPay’s new deposit and send money services support our intention to accelerate digital and financial inclusion,” says Mariam Cassim, CEO of Vodacom Financial and Digital Lifestyle Services.
“Both banked and unbanked users can deposit and/or send money from their VodaPay wallet, securely and cost-effectively. 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.”
To use the send money service, the sender needs to log into VodaPay, select the send money option, choose a cash-out retail 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 There is no limit to the amount of cash that may be sent, but a fee of R8 plus 1% for money withdrawn at retailers and a fee of R8 plus 2% for money withdrawn at ATMs will apply, says Vodacom.
Retailers listed on the VodaPay platform include Clicks, Edgars, Game, Exclusive Books, Hirsch’s, Kit Kat, KFC, TravelStart, Afritrails, Booking.com, Wimpy, Sorbet, FlightSite, NetFlorist and Planet54.
VodaPay is available to customers across all mobile networks in SA.