VodaPay, the super app by Vodacom Financial and Digital Lifestyle Services, has introduced two new services called Deposit and Send Money, aimed at advancing financial inclusion in South Africa. These additions enable both banked and unbanked individuals to securely, affordably, and instantly deposit and/or send money from their VodaPay Wallet. The objective is to expand the accessibility and benefits of digital financial services to a larger population.
Mariam Cassim, the CEO of Vodacom Financial and Digital Lifestyle Services, explains that the new Deposit and Send Money services align with their goal of promoting digital and financial inclusion. With these features, users can conveniently deposit cash into their VodaPay Wallet at no cost through various Vodacom stores and select national retailers like Pick n Pay, Pick n Pay Express, Boxer, PEP, Ackermans, Makro, Rhino Cash ‘n Carry, Game, Builders Warehouse, and Cambridge Food. Additionally, customers can even deposit money to their VodaPay Wallets at nearby Spaza shops through Kazang merchants. By loading cash into their wallets, users gain the ability to purchase products, make online payments via VodaPay, earn rewards, and benefit from daily deals.
The funds in VodaPay Wallets can be utilized for purchasing electricity, airtime, and data, as well as paying bills without incurring extra fees. Furthermore, the digital wallet offers a secure alternative to carrying physical cash, ensuring the safety of users’ money.
Acknowledging that cash still plays a significant role in daily financial transactions for many customers, Cassim highlights the convenience and advantages of the VodaPay Wallet’s Deposit and Send Money services. These features cater to both banked and unbanked individuals, providing a secure method to store and access money. The services have been designed with partner channels that enhance the ease of use, making them even more accessible and user-friendly.
To utilize the Send Money service, senders need to log into VodaPay, choose the Send Money option, select a cash-out partner, and specify the desired amount to be sent to the receiver. Once the money has been sent, the receiver can withdraw the physical cash from the designated cash-out outlet. Cash-out partners for VodaPay include Pick n Pay, Kazang, Cash Express ATMs, and OTT agents. There are no limitations on the amount of cash that can be sent, although a fee of R8 plus 1% applies for withdrawals at retailers, and a fee of R8 plus 2% applies for withdrawals at ATMs.
VodaPay enables users to deposit money into their VodaPay Wallets, which can then be used for payments, money transfers, and purchases from various retailers. Partners on VodaPay include popular brands such as Makro, Builders’ Warehouse, Clicks, Edgars, Game, Exclusive Books, Hirsch’s, Kit Kat, KFC, TravelStart, Afritrails, Booking.com, Wimpy, Sorbet, FlightSite, NetFlorist, Planet54, Flook, and OneCart. The app is accessible to customers across all mobile networks in South Africa, and users can transact using their debit or credit cards.
Cassim concludes by expressing excitement about future innovations and additional offerings that will be introduced to VodaPay throughout the year. As Vodacom continues to drive innovation and provide digital solutions for its customers, the app is expected to expand its capabilities and further enhance the digital and financial experiences of its users.