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,n has been selected for inclusion into Facebook’s App Centre offering.
The social media company plans to go live with its App Centren offering in the coming weeks, providing its 900-million-plus user groupn with a central platform to locate and use a variety of social apps,n including ZunguZ.
ZunguZ founders Robert Sussman and Lance Fanaroff said thatn ZunguZ suits the social networks strategic initiatives around then penetration of mobility into emerging markets and ‘motinixation’ of thisn strategy.
In 2010 Sussman and Fanaroff were introduced to Facebook, vian a relationship held with Morgan Stanley Smith Barney, at the socialn network’s headquarters in Silicon Valley Palo Alto, California.
Upon their return, the South African technology specialistsn spearheaded a number of premier evenings throughout South Africa in supportn of the movie The Social Network also knows as the “Facebook story”.
They have since developed and launched the ZunguZ offeringn which targets the rapidly developing broader online consumer-basedn financial services space that is impacted by truly disruptive technology.
This refers to technology that is designed to infiltraten existing markets, revolutionise or significantly alter modus operandi andn enhance existing services, technology, processes and procedures.
ZunguZ is essentially a multi-tiered platform that has deepn integration into the social graph and a host of financial services. It hasn undergone multiple upgrades and new feature additionas is live onn Facebook in version 1.3.5.1.
The viral distribution of the offering has been incrediblen with a flood of interest from Australia, Canada, China, Nigeria and USA.
“While there are a host of diverse P2P, P2B, B2B paymentn systems in the market, even though ZunguZ is the first platform that allowsn a Facebook user to pay another Facebook user (with no requirement for an user to have a bank account or email address), ZunguZ does not compete withn the likes of PayPal. It is the intelligence that exists in the level twon and three layers where the core ZunguZ business model exists, allowing then referred distribution of purchases to your network. After all, people trustn their ‘friends’,” he adds.
Inclusion in Facebook’s App Centre also reinforces then credibility of ZunguZ in what the offering’s management describe as ann “increasingly diverse marketplace.”
The offering is people-centric and it features a layer ofn intelligence that surpasses that of competitors could be seen in then future. Its Z-button, a customisable payment request button that any usern can build and instantly publish to their Facebook wall, reflects this.
“There are numerous offerings emerging within the consumern financial services space. There is a realisation of the power behind then explosive growth in social media and social networks with traditionaln service channels. The difference with ZunguZ is that it is primarily basedn on- and leverages off the combination of built-in intelligence and the zealn of the Facebook platform,” Sussman continues.
For more information, users canclick through to the ZunguZn website on www.zunguz.com orn activate ZunguZ for free atwww.facebookpayments.co.za