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.
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.
Car buyers to start abandoning fuel-power by 2025
Car buyers in the United States and Europe expect electric vehicles to become a viable alternative to fuel-powered cars in the next five years.
A new report outlining consumer expectations of battery electric vehicles (BEVs) and their viability as replacements for traditional fuel-powered cars or internal combustion engine (ICE) vehicles suggests a massive shift beginning in 2025.
The conclusion emerges from a report by human behaviour and analytics firm Escalent, entitled The Future of BEV: How to Capture the Hearts and Minds of Consumers. It reveals the intent of many consumers in the United States and Europe to abandon ICE vehicles altogether, citing the improved infrastructure and range of BEVs.
The Future of BEV gives auto and mobility manufacturers a strategic view of the benefits of their products in the eyes of consumers and highlights the areas of opportunity for automakers to push the innovation boundaries of BEVs to spur broad adoption of the technology.
“While most buyers don’t plan to choose BEVs over gasoline-powered cars within the next five years, consumers have told us there is a clear intention to take BEVs seriously in the five years that follow,” says Mark Carpenter, joint managing director of Escalent’s UK office. “However, manufacturers will need to tap into the emotional value of BEVs rather than just the rational and functional aspects to seize on that intent and inspire broader consumer adoption.”
The study demonstrates a significant shift in consumers’ expectations that BEVs will become viable alternatives to—and competitors with—ICE vehicles over the coming decade. Though 70% of Americans plan to buy a gasoline-powered car within the next year, just 37% expect to make that same purchase in five to ten years. Similarly, while 50% of European consumers favour buying vehicles powered by gasoline and diesel in the near-term, that figure drops to just 23% in five to ten years.
At the same time, consumers on both sides of the Atlantic see BEV adoption rising to 36% in Europe and 16% in the US, with respondents also indicating intent to purchase hybrids and hydrogen-powered cars.
Infrastructure clearly continues to be one of the biggest barriers to adoption. While some work is being done in Europe as well as in the US, the data show there is a significant need for some players to take ownership if manufacturers want to move the needle on BEV adoption.
US and European consumers have stark differences in opinion as to which entities they believe are primarily responsible for providing BEV charging stations. American consumers consider carmakers (45%) the primary party responsible, followed by fuel companies, local government/transport authorities, and the national government in fourth. On the other hand, European consumers view the national government (29%) as the primary party responsible for providing BEV infrastructure, followed by carmakers, local government/transport authorities and fuel companies.
For a full copy of the report, visit https://landing.escalent.co/download-the-future-of-bev.
New cell phone to help with dementia and memory loss
A new cell phone that takes simplicity to the extreme is designed to address the unique needs of people with dementia and other forms of memory loss. The RAZ Memory Cell Phone, developed by RAZ Mobility, a provider of mobile assistive technology, was launched this week. The handset is also well-suited for individuals with intellectual disabilities.
According to the Alzheimer’s Association, approximately 5.8 million Americans have Alzheimer’s dementia, with one in ten people over the age of 65 diagnosed with the disease. The number of people with dementia is expected to increase rapidly as the proportion of the population 65 and older increases. The American Psychiatric Association reports that approximately one percent of the population has an intellectual disability.
The RAZ Memory Cell Phone consists of one primary screen, and one screen only. It is always on and includes pictures and names of up to six contacts and a button to call 911. That’s it! There are no applications or settings to cause confusion. No notifications or operating system updates. No distractions. Users can simply tap and hold the picture of the person they wish to call.
Caregivers manage the RAZ Memory Cell Phone through a simple online portal. The portal is used to create and edit the contacts, track the location of the phone/user and select certain options, such as the option to restrict incoming calls to people in the user’s contacts, thereby avoiding unwanted calls such as predatory robocalls.
The RAZ Memory Cell Phone can now be ordered at https://www.razmobility.com/solutions/memory-cellphone/.