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AppDate: uKheshe bring banking to the masses

In his apps roundup, SEAN BACHER highlights uKheshe, FNB’s banking app with its will feature, Split Payments, Momentum Safety Alert and Fleetonomy.

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uKheshe micro transaction platform

Financial inclusion took another step forward as local start-up, uKheshe, South Africa’s cheapest and most convenient QR cash card and micro transaction platform, won the 2019 Global Fintech Hackcelerator @ Southern Africa competition. 

“The issue of financial inclusion is a global one and the more we can do to uplift the unbanked and under banked, the healthier their respective economies will become,” says Clayton Hayward, co-founder, uKheshe.

While 1.2 billion people have opened a financial account since 2011, there is still an estimated 1.7 billion adults worldwide (or 31% of adults) who don’t have a basic transaction account.  Globally, two-thirds of adults without an account cite a lack of money as a key reason, which implies that financial services aren’t yet affordable or designed to fit low-income users.

To find out more about uKheshe click here

FNB’s banking app with will feature

First National Bank now lets its customers draw up their own wills via the FNB Online Banking platform at no cost. To date, the bank has seen a significant increase in the number of clients who drafted their own wills online, with over 52 000 clients already accessing the functionality.

Approximately 80% of South Africans don’t have a valid will in place; and many people believe that it’s a need only when they get older, or later in life. 

“Whilst the digital process is simple and easy to use, the solution also helps with a dedicated client support centre should clients need further assistance or advice regarding the drafting of their wills,” says Johan Strydom, Growth Head, FNB Wealth and Investments. “The solution aims to simplify the process and allows customers to easily draft a will online anytime and at any place, at no cost. In addition, FNB will keep your original will in safe custody at no extra cost.”

Platform: Android and iOS

Expect to pay: A free download

Stockists: Available the FNB app which can be be downloaded here.

Split Payments

PayFast has launched Split Payments, a South African-first that instantly splits a portion of an online payment with a third party. The service is designed to facilitate fast, safe payments for platform-based businesses, including online marketplaces.

For those who run a marketplace that brings together multiple sellers or merchants looking for new sales channels, Split Payments addresses payment headaches with a simple API integration.

Consumers are used to engaging with large global transactional platforms such as AirBnB, Uber, and Amazon. The benefits and extended reach of these types of platforms are catching on locally, and organisations like estate agency groups and even community marketplaces are setting up digital trading platforms.

The app allows businesses to instantly split out commission, membership or listing fees, when a payment is made via one of its supported payment methods.

For each online payment received  the business can determine what the split is, either a fixed amount, a percentage, or a combination of both. Custom recurring payment integration, such as subscriptions payments, can also be split automatically.

Platform: iOS and Android

Expect to pay: A free download

Stockists: Download Split Payments here

Read more about Momentum’s new Safety Alert app and Fleetonomy.

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Black Friday, Cyber Monday, shot the lights out

The numbers are in, and it shows that the start of holiday season shopping in South Africa saw spectacular growth

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Black Friday and Cyber Monday continues to be a hit in South Africa, with both days exceeding expectations.  

“Black Friday did not disappoint,” says Solly Bellingan, head of customer relations at BankservAfrica. “Despite the tougher economy, it seems South Africans took advantage of the days’ special deals with in-store and online transaction volumes reflecting strong year-on-year growth. Both days have certainly made their mark amongst local retailers and shoppers,

South Africans shopped up a storm with the total number of Black Friday transactions processed by BankservAfrica, in-store and online, at 7,077,117 (*) in 2019 – 36% up from 2018’s 5,204,594. This translates into a total spend of R6-billion, an impressive 106% increase on 2018’s R2.9-billion.

When compared to 2018, it seems bargain hunters decided to get the best deals early with a 33% year-on-year increase in sales at midnight. The 12-hour period between 06:00 and 18:00 proved to be busiest, with similar volumes being processed each hour. The highest number of transactions processed in a 60-minute period was between 10:00 and 11:00 at a volume of 595,792.

“3D-Secure, our online card authentication service, i.e. transactions that require a one-time pin(**), showed steady growth this year with a 32% year-on-year increase on Black Friday and transaction volumes  reaching a total of  534,828,” says Bellingan. The busiest shopping times were between 09:00 and 10:00 in 2019 compared to the earlier start in 2018 at 08:00 to 09:00

“The most expensive online transaction recorded on Black Friday was for a hospitality purchase of  R10,067,400 by an international company. The most uses by one card was 83. During peak, we processed  717 transactions while the average was 371 per minute for the day.”

Cyber Monday was less active than Black Friday with a 42% growth in online transactions that reached a volume of 249,908 in 2019 (up from 176,595 in 2018). However, in both years, most of the transactions took place between 10:00 and 11:00, with the most expensive being R1,997,800 and 151 uses by one card. The highest average transactions per minute was 322 at peak and 173 per minute for the day.

“This year’s Black Friday and Cyber Monday data mirrors the global data of record-breaking sales – and the BankservAfrica featured figures are only a portion of the entire sales figures for both days,” says Bellingan. “It will be interesting to see if these manage to outpace festive season spend this year.”

Visit the next page for insights gathered through the PayGate payment gateway.

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Amazon records biggest ecommerce day ever

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Image from www.quotecatalog.com

Amazon has announced that Cyber Monday was once again the single biggest shopping day in the company’s history, based on the number of items ordered worldwide. Customers all around the world shopped at record levels across a wide selection, with hundreds of millions of products ordered worldwide between Thanksgiving and Cyber Monday, alone. Customers purchased millions more Amazon Devices compared to the same period last year in Amazon’s Stores globally and the best-selling items were Echo Dot and Fire TV Stick 4K with Alexa Voice Remote.

“We’re focused on making this holiday season more convenient than ever for our customers, especially given how short this holiday shopping season will be,” said Jeff Wilke, CEO Worldwide Consumer, Amazon. “We are thrilled that customers continue to come to Amazon in record numbers to discover what they need and want for the holidays. Thank you to our customers and employees all around the world for making this holiday shopping weekend the best yet.”

Holiday Weekend Highlights:

  • Customers worldwide purchased more toys this Black Friday and Cyber Monday combined than ever before. Among the tens of millions of toys purchased during this time period, best-sellers included LEGO Star Wars Darth Vader’s Castle, Monopoly Game: Disney Frozen 2 Edition and Hasbro games such as Jenga, Guess Who and Candy Land Kingdom of Sweet Adventures.
  • Cyber Monday was the single biggest shopping day for Amazon Fashion worldwide, with more items purchased than any other single day in the company’s history. Best-sellers included Carhartt Men’s Acrylic Watch Hat and Champion Men’s Powerblend Fleece Pullover Hoodie.
  • Amazon customers worldwide ordered more than 25 million home items on Black Friday and Cyber Monday, combined.
  • Best-sellers on Black Friday in the U.S. included Echo Dot, Fire TV Stick with Alexa Voice Remote, Instant Pot Duo80 – 8 Quart, 23andMe Health + Ancestry Service: Personal Genetic DNA Test, L.O.L. Surprise! Winter Disco Bigger Surprise and iRobot Roomba 675 Robot Vacuum.
  • Customers worldwide purchased more than four million beauty products this Cyber Monday compared to last year, with best-sellers including Oral-B Genius Pro 900 Electric Toothbrush, Lagunamoon Essential Oils Top 6 Gift Set and L’Oreal Paris Voluminous Makeup Lash Paradise Mascara.
  • Top-selling categories worldwide include Toys, Home, Fashion and Health and Personal Care.
  • The best-selling products in Amazon’s Stores on Cyber Monday in the U.S. included Echo Dot, Fire TV Stick with Alexa Voice Remote, Play-Doh Sweet Shoppe Cookie Creations, Keurig K-Cafe Coffee Maker and LEGO City Ambulance Helicopter 60179 Building Kit.
  • Independent third-party sellers in Amazon’s Stores — mostly small and medium-sized businesses – sold more items during Cyber Monday 2019 than any other 24-hour period in the company’s history.
  • For the third year in a row, Whole Foods Market broke its all-time record of turkeys sold during the Thanksgiving season.
  • Amazon delivered millions of grocery items to Prime members in the U.S. through the five days between Thanksgiving and Cyber Monday. Best sellers from Amazon Fresh and Whole Foods Market delivery included Honeycrisp apples, lemons and avocados.
  • Top selling items at Amazon Books and Amazon 4-star stores over the holiday weekend included the Amazon Smart Plug, Echo Dot and All-New Echo Dot Smart Speaker with Clock, L.O.L. Surprise! Dolls, Wrecking Ball (Diary of a Wimpy Kid Book 14), and the Wyze Cam 1080p HD Indoor Wireless Smart Home Camera with Night Vision.

Record-Breaking Weekend for Devices

  • Shoppers purchased a record number of Amazon Devices globally this holiday weekend.
  • Amazon customers worldwide purchased millions more Amazon Devices, compared to the same period last year in Amazon’s Stores globally, including Echo devices, Fire TV devices, Kindle devices, and Fire tablets.
  • It was a record-breaking holiday shopping weekend for smart home devices in Amazon’s Stores globally with shoppers purchasing millions of smart home devices, including iRobot Roomba 675 Robot Vacuum, Furbo Dog Camera, and Wemo Mini Smart Plug.
  • The best-selling products in Amazon’s Stores globally were Echo Dot and Fire TV Stick 4K with Alexa Voice Remote.

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