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.
Momentum Safety Alert
Momentum Short Term Insurance has boosted its safety offerings for customers with the introduction of Safety Alert, an emergency panic button linked to armed response, which is available through the Momentum app.
Momentum started its safety offerings with the introduction of Safety Score in 2015, enhanced with the launch of Safe Dayz in 2017.
These offerings, and others such as Home Drive, Momentum Assist and now Safety Alert, encompass personal, road and home safety with the main aim of helping its clients avoid risk(s) or minimise the impact if a risk event occurs. Safety Alert is linked to 1 500 armed responders throughout South Africa.
Activating Safety Alert via the Momentum App on a smartphone allows for the immediate pinpointing of a location and the dispatch of an armed response unit.
Users must ensure their location setting is active when initiating Safety Alert. It is free of charge to all Momentum Car and Home Insurance policyholders for a limited time until August 2020.
Platform: Android and iOS
Expect to pay: A free download
Stockists: Momentum Safety Alert can be downloaded here.
Fleetonomy
InMotion Ventures, Jaguar Land Rover’s venture capital and mobility services arm, has partnered with startup Fleetonomy to launch its Havn chauffeur service in London. Fleetonomy will provide Havn with its end-to-end platform, including advanced fleet management technology, a dispatch system, demand prediction modules, and AI-based optimisation engines.
The partnership will enable Havn to leverage Fleetonomy’s AI-based mobility operations platform in order to launch and operate their app-based, pre-booked chauffeur service using a fleet of fully electric Jaguar I-PACE vehicles. Some of the platform’s capabilities include schedule planning, synchronising optimal charging times and locations, guaranteeing that vehicles are positioned optimally according to demand, and ensuring that trips are completed smoothly without interruptions.
As part of the startup company’s end-to-end solution, Fleetonomy will also supply mobile apps for the service’s passengers and drivers, as well as customer relationship management tools and a scheduling dashboard, to be used by Havn’s operations team.
Platform: Android and iOS
Expect to pay: A free download
Stockists: Download Havn here.