Walletdoc, Absa implement new payment solution

Co-founders of walletdoc Dan Wagner and Leonard Shenker.
Co-founders of walletdoc Dan Wagner and Leonard Shenker.
Co-founders of walletdoc Dan Wagner and Leonard Shenker.

Absa has partnered with walletdoc in a bid to offer users a smart, secure and convenient way to pay bills such as monthly subscriptions and utilities.

The payment solution notifies the user when bills arrive, sends reminders when bill payments are due and allows user to pay the bills with a credit card. It also takes care of account and reference numbers, resulting in a hassle-free experience for users while ensuring that billers always receive reconciled payments.

Once the user has set up their payment card details, they can pay multiple bills in a single transaction. Walletdoc digitally stores your bills and payment history eliminating manual storage and filing of documents.

“Partnering with a sophisticated bank such as Absa required us to invest in a comprehensive and robust suite of information-protection measures. Data is fully encrypted and mobile transactions use either fingerprint or PIN authentication, making it safe for users to pay their bills anytime, anywhere and on-the-go,” says Leonard Shenker, joint CEO of walletdoc.

The partnership with walletdoc is another example of how Absa is collaborating with entrepreneurs and start-up companies to bring innovative solutions to customers.

Willie van Zyl, head of card issuing at Absa explains, “The global banking industry is faced with an ever-changing landscape as customers opt to migrate to digital channels. We are seeing a huge change in the way our customers pay for products and services and walletdoc is another step forward in our mobile banking journey. Using walletdoc is hassle-free and easy and we encourage our customers to get on board. We have piloted walletdoc with some of our clients and they have been delighted by the simplicity of this innovative solution.”

Absa Rewards customers will earn cash rewards to spend in any way they like every time they use walletdoc to pay their monthly accounts. While the bank will be marketing the local startup’s payment platform to its consumer card customer base, anyone can use the solution whether they are an Absa client or not. All Visa, MasterCard and Diners Club cardholders also earn qualifying card rewards.

walletdoc also partnered with EasyPay, an independent service that facilitates the payment of accounts and is linked to an extensive network of over 400 of South Africa’s largest billers including municipalities, Eskom and Telkom. walletdoc assists these billers to send bills and collect payment securely, reliably and quickly. A list of walletdoc’s supported billers can be found at https://www.walletdoc.com/supported-billers

Walletdoc is a gold member of AlphaCode, a club for fintech startup entrepreneurs. Head of AlphaCode, Dominique Collett, says: “walletdoc is an example of a fintech company solving a real pain point for a customer. The partnership with Absa also highlights the importance of banks working with fintechs. By bringing together the innovative thinking offered by walletdoc and the trust and distribution offered by an established bank, the customer is ultimately the winner.”

How to use walletdoc

Sign up and get your own walletdoc email address. Get your billers to send your bills to this email address or forward your bills to your walletdoc address. Your bill is processed by walletdoc and is ready for payment. Payment can be made in full or in part and can even be scheduled for a future date.

Walletdoc App is available  on Google Play or the App Store.


Staff Writer