Spot Money partners with Pargo
Recently launched fintech, Spot Money, has partnered with smart logistics company, Pargo, for the delivery of its debit cards across the country.
Smart Money calls itself SA’s first open banking marketplace that offers a mobile money solution managed through an app.
Thanks to the deal with Pargo, Spot Money users can order their debit card directly through the app after setting up a free account and have it delivered by Pargo at no charge.
In addition to door delivery, customers can choose to collect their Spot debit cards at any one of 100 Pargo Pickup Points in Clicks stores across SA, immediately after ordering it via the app.
Zeyad Davids, chief marketing officer at Spot Money, says the partnership with Pargo has given his organisation access to a simple, cost-effective distribution solution that keeps the Spot debit cards safe and allows them to easily reach a wider consumer base, which traditional delivery methods don’t necessarily allow for.
Pargo has seen a growing popularity of its “click and collect” in-store collection service over the last year, adds Lars Veul, CEO at Pargo.
The debit cards are the latest in a slew of financial services offered by Spot Money, centred around their mobile money app, which includes virtual cards, free money transfer between Spot users, support for QR code and other contactless payments, cashback rewards at selected retail partners, as well as loans and insurance.