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How money gets to people

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Many take South Africa’s ATM network for granted – simply insert a card and withdraw money. GAVIN REUBENSON, Group CIO, Paycorp, outlines what it actually takes to deliver cash to 17 million South Africans on the first of every month.

It starts very early in the morning on the first working day of every month: 17 million South Africans go to their nearest ATM to withdraw their government (SASSA) grant. It almost doesn’t matter what time you get there, you’ll find a queue of South Africans waiting for their turn at the ATM.

The image below shows the extent to which SASSA withdrawals on the 1st dwarfs those transactions done by other cardholders, and certainly dwarfs the peak that happens on the 25th of each month when the majority of South Africans get paid by their employers. The blue portion of the graph represents SASSA withdrawals; the orange is normal business.

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The annual Finscope survey released in November last year reported that 34% of people – that’s 6.1m South African grant recipients – withdraw all their money on payment day every month regardless of the fact that they could withdraw it in small increments during the course of the month, or even use their SASSA cards as debit cards at point-of-sale.

It helps to understand that SASSA’s electronic payment system represents the first time many people have had access to any kind of banking system. We’re beginning to see a change in behaviour; we see more people withdrawing two or three times a month as they learn to trust electronic banking, although it has to be said that recent uncertainty regarding SASSA administration does have a knock-on effect.

Leaving that aside, these newly-banked customers are not the only ones who’ve had to adapt since the grant payment system went electronic in Q1, 2012.

As a company whose primary purpose is to connect people to their money and businesses to their customers, we rate service very highly so we don’t like to see long queues at our ATMs. Like everyone else, we’ve had to get used to it on SASSA payment day.

We’re much more concerned with ensuring that there will be enough cash for every SASSA cardholder at every one of our 5,500+ ATMs. Reliability is our number one priority – people need their cash, and we’re going to make sure they get it!

When SASSA first went electronic there was significant pressure on the national payment system which put strain on everyone, and we all had to adapt very quickly. At Paycorp we were quick to update and reconfigure our cash forecasting systems to ensure that we could service the increased withdrawal volumes and values.

Whilst Paycorp has always been about financial inclusion, moving government grants from cash to electronic through the SASSA card added a new dimension by helping to drive financial activity in remote communities. This is not just because more cash is being circulated. For merchants who have in-store ATMs, 30 – 40% of cash withdrawn from their ATM will be used in their store and therefore the money stays in the local community.

With every local ATM we install – and the majority of our installations are in rural and peri-urban areas – we know that we’re contributing to the local community’s reduction in travel time to access an ATM, which is now down to below 30 minutes. Seventeen years after deploying South Africa’s first independent ATM, nothing is more satisfying than seeing how the addition of an ATM makes life easier for individual South Africans, promotes business growth, and builds local economies.

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Now download a bank account

Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.

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This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.

“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.

“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”

The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:

  1. Download the Absa App
  2. Choose the account you would like to open
  3. Tell us who you are
  4. To keep you safe, we will verify your cell phone number
  5. Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
  6. Tell us where you live
  7. Let us know what you do for a living and your income
  8. Click Apply.

 

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How we use phones to avoid human contact

A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.

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Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances. 

Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?

The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.

In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.

Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.

Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”

To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:

·         I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?

With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.

·         Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?

Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.

·         I’ve lost my phone! How will I keep myself entertained now?

Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.

 

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