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
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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
A “land grab” is under way in SA’s cellphone and banking industries as big companies — retailers, banks and telecommunications…
Futurists have long prophesied the death of cash. Despite this, banknotes and coins still predominate in retail transactions. However, cash’s…