MOBILE WALLET AND MONEY TRANSFER

Now any retailer can launch their own mobile wallets!

It is perfect for non-banked or security conscious customers who want to keep their personal information, such as credit card details, secret. The Payment24 Mobile Wallet allows consumers to securely store and spend funds with the option to link credit cards to their mobile wallets as a funding mechanism.

To fund, simply enter the CVV number and amount. Once linked to the wallet, consumers never have to enter their credit card details again.

THREE EASY STEPS

  1. First you Download Mobile Wallet and Register
  2. Then fund the Mobile Wallet
  3. Spend at Approved Merchants

WAYS TO PAY

PAY AT TILL

Consumers fund their wallets using cash, debit or credit cards at participating merchants and provide their mobile phone numbers as a reference number. The payments are automatically allocated to the respective mobile wallets using the reference numbers provided.  At the Payment24 Terminal or Integrated POS:

  1. Select ‘Load Funds’
  2. Enter mobile number
  3. Enter amount
  4. Funds loaded successfully

LINK CREDIT CARDS

Consumers link a credit card to their mobile wallets using the Payment24 Mobile App. Using the mobile app, consumers select:

  1. Link Credit Card
  2. Enter credit card number, expiry date and CVV number
  3. Credit card is linked successfully

Note: This is a once-off process only. Consumers can link multiple credit cards to their mobile wallets.

BANK TRANSFER

Consumers load funds by paying directly into Payment24’s trust account using their mobile number as reference number. Funds are allocated directly to the mobile wallets at set intervals.

ADVANTAGES FOR RETAILERS AND CONSUMERS

  • Lower Transaction Fees: The charges of the mobile wallet fund transfer are less than a traditional fund transfer
  • Convenience: Mobile wallets encourage the convergence of mobile network service providers and financial institutions
  • Secure Spend: Users can go to any Approved Payment24 Merchant to spend funds on their Mobile Wallet
  • Money Transfer by Wallet: The transfer of funds with a mobile wallet is a simple and secure way to deposit or to receive money via a virtual wallet accessed by consumers using their mobile phones/smartphones
  • Money Transfer by SMS: Users can even transfer funds to people who are not registered, by simply entering their Mobile Numbers. Registered/non-registered users both cannot cash out the funds at any stage unless specified by the Issuer of the wallets
  • Integrated Loyalty & Rewards: Retailers can integrate the loyalty and rewards module and offer reward points and promotions to their loyal customers
  • Purchase Airtime: Retailers can integrate the offering with our Airtime and Electricity platform and offer airtime purchases directly from within the Mobile Wallets

USING MOBILE WALLET AS A PAYMENT TOOL

A mobile wallet is an extremely valuable payment tool and offers many benefits:

  • Updating a consumer account and indicating how much reward points he or she gained at the end of purchase
  • Avoiding the merchant’s and consumer’s purchase complexity by adding or redeeming loyalty points at point of sale (POS) instead of cash or credit
  • Providing consumers with purchase data and retail offers based on previous purchase data
  • Issuing a warning message to consumers for fund deficits and overdraws
  • Allowing a consumer possessing one or more credit cards to choose the particular credit card, which provides maximum value in terms of rewards or a favourable rate of interest or redeemable coupons
  • Recommending available accessories in the same store or the nearest retail store based on the location and item purchased

GET SET UP NOW!

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