Locally developed inter-account transfer system, ZunguZ, has been selected for inclusion into Facebook’s App Centre offering.
ZunguZ, the multi-tier online inter-account transfer system, has been selected for inclusion into Facebook’s App Centre offering.
The social media company plans to go live with its App Centre offering in the coming weeks, providing its 900-million-plus user group with a central platform to locate and use a variety of social apps, including ZunguZ.
ZunguZ founders Robert Sussman and Lance Fanaroff said that ZunguZ suits the social networks strategic initiatives around the penetration of mobility into emerging markets and ‚motinixation’ of this strategy.
In 2010 Sussman and Fanaroff were introduced to Facebook, via a relationship held with Morgan Stanley Smith Barney, at the social network’s headquarters in Silicon Valley Palo Alto, California.
Upon their return, the South African technology specialists spearheaded a number of premier evenings throughout South Africa in support of the movie The Social Network also knows as the ‚Facebook story‚ .
They have since developed and launched the ZunguZ offering which targets the rapidly developing broader online consumer-based financial services space that is impacted by truly disruptive technology.
This refers to technology that is designed to infiltrate existing markets, revolutionise or significantly alter modus operandi and enhance existing services, technology, processes and procedures.
ZunguZ is essentially a multi-tiered platform that has deep integration into the social graph and a host of financial services. It has undergone multiple upgrades and new feature additionas is live on Facebook in version 18.104.22.168.
The viral distribution of the offering has been incredible with a flood of interest from Australia, Canada, China, Nigeria and USA.
‚While there are a host of diverse P2P, P2B, B2B payment systems in the market, even though ZunguZ is the first platform that allows a Facebook user to pay another Facebook user (with no requirement for a user to have a bank account or email address), ZunguZ does not compete with the likes of PayPal. It is the intelligence that exists in the level two and three layers where the core ZunguZ business model exists, allowing the referred distribution of purchases to your network. After all, people trust their ‚friends’,‚ he adds.
Inclusion in Facebook’s App Centre also reinforces the credibility of ZunguZ in what the offering’s management describe as an ‚increasingly diverse marketplace.‚
The offering is people-centric and it features a layer of intelligence that surpasses that of competitors could be seen in the future. Its Z-button, a customisable payment request button that any user can build and instantly publish to their Facebook wall, reflects this.
‚There are numerous offerings emerging within the consumer financial services space. There is a realisation of the power behind the explosive growth in social media and social networks with traditional service channels. The difference with ZunguZ is that it is primarily based on- and leverages off the combination of built-in intelligence and the zeal of the Facebook platform,‚ Sussman continues.
For more information, users canclick through to the ZunguZ website on www.zunguz.com or activate ZunguZ for free atwww.facebookpayments.co.za