Browsing: Beyond Payments
After a lengthy pilot project, Standard Bank has commercially launched SnapScan, a smartphone-based payments system that removes the need for consumers to carry either cash or bank cards, allowing them to make payments using only their phones. Consumers from any bank, not only
Vodacom expects demand for data to offset a decline in voice revenues in the next few years, but with the margins on data slimmer and the price of data being driven down by a competitive market, the operator is also hoping so-called “over-the-top” services – content, social networking and financial services are three examples
Vodacom has hired a top expert in electronic payments and financial services to head its mobile commerce division. The telecommunications operator has appointed Herman Singh, formerly head of Standard Bank’s innovation arm, Beyond Payments, as its managing executive for mobile commerce. Singh
Mxit Money, a partnership between Standard Bank and mobile social network Mxit, has been launched and allows Mxit users to send money to one another for free, transact with that money, and even withdraw it. Users can also send money to other mobile phone users for a nominal fee. Mxit CEO
Vodacom expects to sign up 10m M-Pesa mobile money users within three years. The telecommunications operator’s director in charge of the product’s launch, Romeo Kumalo, revealed the ambitious target during the product’s launch in Midrand, north of Johannesburg, on Tuesday.
Futurists have long prophesied the death of cash. Despite this, banknotes and coins still predominate in retail transactions. However, cash’s demise may finally be on the…