Shoprite Supermarkets has partnered with Google, Standard Bank, and global mobile payments solutions firm Celbux to introduce a mobile money platform for its customer base.
Shoprite said in a statement that the platform, dubbed Shoprite Money, is a mobile transactional banking service accessible to everyone including those without bank accounts.
“Using their Shoprite Money mobile wallet, this new service will allow customers to deposit, withdraw or send money as well as buy groceries at any of the till points in all Shoprite, Checkers, Checkers Hyper or Usave stores,” it said.
The Shoprite Money Service The mobile money service will also enable customers to send money, purchase airtime, and buy electricity as long as they have funds in their Shoprite Money accounts. All transactions carried out through this service are free but for a fee of less than a dollar that will be charged for cash withdrawals.
At the moment, the service will be available to South Africans aged 18 years and above using any mobile network.
“Basic transactional banking services in South Africa are expensive and in many cases still not accessible to a large number of South Africans,” Joseph Bronn Shoprite group chief business officer said in the statement. “We believe Shoprite Money will have a marked impact on economic activity in South Africa.”
Shoprite Money will also be introduced in other African countries in the next 12 to 18 months. The platform will also provide cross-border remittances.
- Kenyan Wallstreet
