VodaPay, the super app by Vodacom Financial and Digital Lifestyle Services, has introduced two innovative services, namely Deposit and Send Money. These additions mark another significant stride in their ongoing mission to promote financial inclusion for all South Africans.
“VodaPay’s new Deposit and Send Money services support our intention to accelerate digital and financial inclusion. Both banked and unbanked users can deposit and/or send money from their VodaPay Wallet, securely, cost-effectively and instantly. 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,” says Mariam Cassim, Chief Executive Officer of Vodacom Financial and Digital Lifestyle Services.
This service is available at 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 Warehouse, and Cambridge Food, allowing customers to deposit funds without any fees. Additionally, customers can conveniently deposit money to their VodaPay Wallets at nearby Spaza shops through Kazang merchants.
By loading cash into their VodaPay Wallets, customers gain access to a range of benefits. They can make online purchases, pay for products and services through VodaPay, and enjoy exclusive rewards and daily deals. Moreover, the funds in their VodaPay Wallets can be utilized to conveniently purchase electricity, airtime, data, and pay bills, all without incurring any additional charges. This digital Wallet provides a secure alternative to carrying cash, ensuring that users can store their money safely and conveniently.
“While digital payments are growing in South Africa, we understand that cash is still an important part of many of our customers’ daily financial transactions. For both unbanked and banked customers who want the convenience and unmatched benefits of the VodaPay Wallet, the Deposit and Send Money service is a convenient and secure method to store and access money. We have also chosen specific partner channels that make the service even easier and simpler to use,” adds Cassim.
To use the Send Money service, the sender needs to log into VodaPay, select the Send Money option, choose a cash-out 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.
VodaPay makes it possible for people to deposit money into a VodaPay Wallet, then use that money to make payments, transfer money or buy products from a variety of retailers.
“As we continue to innovate and seek digital solutions for our customers, we look forward to bringing even more offerings to VodaPay as the year continues,” concludes Cassim.
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