TechPression

Tag: Pick n Pay

  • In South Africa, WhatsApp Banking Solution is introduced by Mama Money

    In South Africa, WhatsApp Banking Solution is introduced by Mama Money

    Through strategic alliances with Pick n Pay and Access Bank, the South African fintech business Mama Money introduces a cutting-edge banking service. The partnership unveils a bank card that uses WhatsApp to revolutionise the nation’s access to financial services.

    Mama Money Financial Services is a fintech company that specialises in cost-effective money transfers.

    Read also: NITDA releases guidelines on protecting WhatsApp accounts from hackers

    The new banking solution fills important holes in South Africa’s financial system. Historically, substantial segments of the population have been shut out of official financial services due to traditional banking obstacles such as paperwork requirements, exorbitant fees, and restricted branch access. Mama Money’s card, which is powered by WhatsApp, makes an alternate route to financial services possible.

    By integrating WhatsApp, cardholders can access extensive financial services. Customers may deposit money, buy electricity tokens, buy airtime, check their account balances, and quickly protect their cards in case they are misplaced. With this solution, customers can withdraw money from any ATM, shop online or swipe in stores to buy goods, and send money to over 70 countries worldwide using their Mama Money Card. 

    Mathieu Coquillon, co-founder of Mama Money stated “The Mama Money Card is making it much easier for under-served communities to get their own bank service where all they need is proof of identity such as a passport, asylum document or South African ID to register for Mama Money on their phone. We’ve always sought ways to make financial services more accessible and tailored to the needs of our unique customer base.”

    He also added, “We’ve seen a big demand from employers who previously paid their staff in cash or via e-wallet or have issues with employees sharing bank account details. Each Mama Money Card has a unique account number that makes it simple to pay salaries and gives cardholders full control of their money.”

    Read also: Convert your voice notes to text with WhatsApp’s new transcription feature

    Customers who want to use the Mama Money Card will need to download the Mama Money app and register within minutes before collecting their card from selected Pick n Pay stores. It is available in Cape Town, Durban, and Johannesburg. 

    However, it attracts a monthly fee of R25 and a once-off cost of R99. In addition, sending money abroad attracts 5% or less, depending on the destination of the money. 

    Deven Moodley of Pick n Pay highlights the initiative’s importance in promoting financial inclusion. The involvement of the retail network guarantees greater accessibility and distribution of financial services, which is especially advantageous for areas with limited access to conventional bank branches.

    The integration of the WhatsApp platform offers exceptional benefits. Users do not need to learn new banking apps because they can manage their accounts using a recognisable messaging interface. This method makes money management more accessible for individuals with varying technical knowledge.

  • ‘Pick N Pay’ Begins Crypto Payments In South Africa

    ‘Pick N Pay’ Begins Crypto Payments In South Africa

    Pick n Pay is expanding the inclusion of cryptocurrency as a payment option to more stores upon the successful completion of the first phase.

    The first phase allowed customers to make payments for goods with crypto from their smartphones.

    The retail company, which is one of the leading grocery retailers in South Africa, announced this expansion on Tuesday. 

    Read also: Pick n Pay raises the stakes for on-demand grocery delivery with Takealot partnership

    Pick N Pay Crypto Payments 

    This news comes weeks after the Financial Sector Conduct Authority officially declared crypto assets as a financial product in South Africa, allowing them to be regulated and enabling cryptocurrency to be a mainstream payment option.

    According to Pick n Pay, “Increasingly, cryptocurrency is being used by those under-served by traditional banking systems or by those wanting to pay and exchange money in a cheaper and really convenient way.

    “Many companies are responding to this by accepting Bitcoin.”

    In its latest pilot, the grocery retailer tested a payment service technology that enables customers to buy groceries with cryptocurrency at till points with any Bitcoin Lightning-enabled app – such as BlueWallet or Muun.

    To transact, customers scan a QR code from the app and accept the rand conversion rate on their smartphone at the time of the transaction. The service fee for each transaction is minimal, costing the customer an average of 70 cents and taking less than 30 seconds.

    Ten stores in the Western Cape were the first to have a five-month trial period. The retailer has extended the pilot to a further 29 stores for testing with customers, with the intention to roll it out to all stores in the coming months.

    According to Pick n Pay, this has been in the works for a while. In 2017, the group ran a pilot in the canteen store at its head office in Cape Town.

    According to Pick n Pay’s Group Executive for information and technology, Chris Shortt, “This new technology means we can provide an affordable service for high volume, low-value transactions that will promote financial inclusion in South Africa.”

    “We are constantly innovating and testing new technology so that we can add real value and choice for the customers we serve. This exciting pilot shows huge potential and is another way we can help and support our customers.”

    Stores Expected To Participate

    Several stores are on the list of Pick n Pay’s crypto payment testing, including Langeberg Mall, Mosselbay, Paarl Mall, Sedgefield, Stellenbosch Central and Stellenbosch Square, Willowbridge, Local Big, Bay, Table Bay Mall, Cavendish, and Kenilworth, alongside many others.

  • Pick n Pay raises the stakes for on-demand grocery delivery with Takealot partnership

    Pick n Pay raises the stakes for on-demand grocery delivery with Takealot partnership

    Pick n Pay, a JSE-listed grocery retailer announced a partnership with the Takealot Group‘s Mr. Delivery service on Tuesday, which would expand its on-demand food presence by allowing customers to place online grocery orders delivered in 60 minutes.

    It made the deal public during a presentation about its reworked strategy plan, which it did after releasing its latest full-year results. Pick n Pay reports an increase in FY earnings and raises dividends.
     
    Pick n’Pay claims The new service will be available in Cape Town in August 2022 and then throughout the country by the end of the fiscal year in 2023.

     

    Read Also : Kenyan government attempts to regulate Safaricom’s call rates.


     “Pick n Pay has completed a commercial services agreement with the Takealot Group, which will result in the launch of a dedicated Pick n Pay on-demand food, grocery, and liquor offer on the Mr. D app, which presently has over 2.5 million active consumers,” says the store. Smart Shopper, the group’s loyalty programme, will also be linked.

     

    More on The Agreement Between Pick n Pay and Takealot Group


    “According to the agreement, when a consumer opens the Mr. D app, he or she would be given the option of ‘buying groceries’ or ‘buying meals from restaurants.’ Customers will access a dedicated Pick n Pay food and grocery experience by clicking on ‘purchase groceries’… Select n Pay will pick up and pack the order at the nearest Pick n Pay store once placed and paid for. Pick & Pay says, “An employee of the Takealot delivery fleet will then pick it up and bring it to the customer.”

     

    An Attempt to Re-establish Market Dominance

    Pick & Pay has fallen behind its biggest competitor, Shoprite, by a long way. Shoprite’s Checkers Sixty60 app has taken over the on-demand grocery business.
     
    They currently provide a fantastic on-demand grocery service via asap! Customers will now be able to benefit from a more enormous, better, faster, and more exciting offer thanks to Pick n Pay’s collaboration with the Takealot Group, “says CEO Pieter Boone.
     
    “It will be the best of Pick n Pay on Mr. D, with Takealot Group’s industry-leading platforms and service standards.”
     
    According to Boone, the store hopes to reestablish market dominance in online grocery services with this arrangement. He also stated his intention to increase Pick & Pay’s online sales by eight times by 2026.
     
    “We are thrilled to be collaborating with the brand and the people at Pick n Pay, who share our Takealot Group values.” Takealot executive chairman Kim Reid said, “Mr. D’s 2.5 million customers will be happy to see a Pick n’ Pay supermarket offer on the site.”
     
    “The combination of Pick n Pay’s reach, quality, and affordability with Takealot Group’s leading technology and scalable delivery network is a winning combination.”
     
    “Scalability will be a significant benefit.” At its peak, Takealot Group distributes over 5 million shipments every month, with the potential and ambition to serve many more consumers as demand for this offer grows, “he says.