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Spazapp and Mastercard take small traders mobile

Mastercard is collaborating with Spazapp, to bring secure mobile payments to thousands of informal traders and convenience stores, better known as spaza shops, in South Africa.

By combining their expertise and reach, the companies intend to unlock economic growth by helping informal micro-businesses connect to formal markets and digital payment systems.

The informal retail sector boasts an impressive R46 billion in annual sales a year with more than nine million households regularly shopping at these stores. While these shops represent the economic backbone of many local communities, their true potential remains untapped as they do not have the tools necessary to accept electronic payments and run their businesses effectively.

Through this partnership, Mastercard has integrated its digital global payment service Masterpass into Spazapp – a free, money-saving android application that connects a community of informal traders directly to big FMCG brands including Unilever and Tiger Brands. Using Spazapp, traders can order a wide variety of products at competitive prices – which they would be unable to access without the collective bargaining power that the Spazapp platform offers – and use Masterpass to digitally pay for stock and accept cashless payments from their customers with their mobile phones.

“Too many informal micro-retailers are stuck, like their customers, in a cash economy that doesn’t work for them,” says Mark Elliott, division president for Mastercard, Southern Africa. “By matching up Spazapp’s extensive supplier and distribution network with digital payment and acceptance solutions from Mastercard, we are able to help these shop owners build a better future and serve their customers who are themselves demanding safer, and more convenient ways to pay.”

By digitizing the entire value chain, the 4,500 micro-businesses already using Spazapp’s buying app can generate significant savings on stock procurement. Traders no longer need to close their stores to buy stock, miss out on bulk buying savings because of cashflow constraints or have to worry about the security risks and high costs of cash.
“Our goal is to uplift last mile traders and disadvantaged communities by simplifying the buying process for small, informal traders through competitive pricing and collective bargaining power,” says Tim Strang, CEO of Spazapp. “Masterpass has the scale, efficiency and convenience we need to offer merchants a truly accessible, low-risk and affordable way to accept electronic payments from their customers and pay their suppliers.”

For spaza owners, Masterpass provides a more affordable alternative to traditional Point of Sale devices, allowing them to offer a convenient digital payment option to their customers – the majority of whom are banked and are ready to use mobile payments.

How it works
Spaza customers can download Masterpass from the iOS or Android app store, register, and load their credit, debit or cheque cards from any bank into the digital wallet. To pay for their goods, they simply open the Masterpass app on their mobile device, and scan the unique QR code that is generated on the Spazapp retailer’s smartphone. After shoppers enter their bank PIN number or 3DSecure code and CVV/CVC number on their own device, the transaction is complete.

Similarly, spaza shop owners use their Masterpass app to scan a QR code printed on the supplier’s invoice, to pay for their stock on delivery at their store. Payment card information – including card details from Mastercard and other payment networks – is only captured once eliminating the hassle of repeatedly entering these details each time they want to pay their bill.

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Mobile is the new branch

Standard Bank has launched an account for mobile devices that gives back 500MB of data a month

Standard Bank has introducd a R4.95p/m bank account called MyMo that customers can open on their mobile devices, loaded with data and airtime offerings and other benefits such as virtual and Gold physical card.

MyMo account holders will also enjoy the convenience of a cheque account through a Visa and Mastercard gold card. Once the account is open, users can choose to either receive R50 in airtime or 500MB of data a month, if their card is swiped more than four times a month. A further megabyte of data is loaded on the account for every R20 spent.

“MyMo is an account for everyone, whether you just landed your first job or have been around the block. With no documentation required it only takes a few minutes to open the account,” says Funeka Montjane, Chief Executive for Personal and Business Banking, South Africa, at Standard Bank Group. “For just R4.95 a month customer will be able to enjoy free swipes and ATM withdrawals at only R6.50 for amounts under R 1 000.

“Mobile is the new branch. This account is about bringing the mobile branch into customers hands, it is about convenience and security while banking.”

She says mobile offers low cost transactional banking which integrates people and businesses into the new connected economy, making mobile the new branch ecosystem that will drive and connect Africa’s growth. Physical connections to the economy are rapidly changing to digital where banks have to move from being financial institutions to service organisations.

“In the past people congregated in communities and eventually cities to maximise the advantages of connectivity. Today a simple hand-held device has the potential to open infinite doors, transforming individuals’ access to opportunities, regardless of where they are, and like never before in history. 

“Historically, a bank account represented access to economic citizenship. Today, having a simple device enabling digital access to a modern banking platform is a passport to global connectivity and vast human development potential.”

The bank says it is using technology, and mobile phones in particular, to deliver low-cost transactional channels accessible to all our customers. The evolution in mobile can be seen in transaction options like cash back at the retail checkout till rather than the ATM, free digital banking rather than using a branch, and the ability to transact using digital wallets, even without a bank account.

“Developing comprehensive connected ecosystems requires a mind-set change from Africa’s banks,” says Montjane. “Banks will evolve away from traditional financial service organisations, into service ecosystems enabling broad universal access to almost everything like enhanced purchasing experiences of vehicles and homes, online procurement of goods and services and lifestyle elements like rewards and travel. 

“These connectivity drivers will also act to future-proof evolving connectivity ecosystem by allowing us to offer untold future services while deriving income from as yet unrealised revenue streams,.   

From a customer perspective, the kind of ecosystems of knowledge, access and, ultimately, connectivity that banks will come to provide will radically transform the share of life that almost all individuals will be able to access.”

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Two-thirds of SA staff hide social media from bosses

With 90% of people in employment going online several times a day, it can be hard for most workers to keep their private and work-life separate during the working day (and beyond). The recently published Global Privacy Report from Kaspersky Lab reveals that 64% of South African consumers choose to hide social media activity from their boss. This secretive stance at work also extends to their colleagues, with 60% of South Africans also preferring not to reveal online activities to their co-workers.

Globally, the average employee spends an astonishing 13 years and two months at work during their lifetime. Interestingly though, not all this time is directly related to solving work tasks or earning a promotion: almost two thirds (64%) of consumers admit visiting non-work-related websites every day from their desk.

Not surprisingly, 35% of South African employees are against their employer knowing which websites they visit. However, more interestingly, 60% of South African are even against their colleagues knowing about their online activities. This probably means that colleagues constitute an even greater threat to future perspectives of an office slouch or maybe the relationships with colleagues are more informal and therefore, more valuable.

On the contrary, social media activity appears to be a less private domain for many and therefore, more suitable for sharing with colleagues but not the boss. This is probably because workers fear harming the public image of a company or interest in decreased staff productivity motivates companies to monitor employees’ social networks and make career changing decisions based on that. Such policies have led to 64% of South Africans saying that they don’t want to reveal their social media activities to their boss and 53% even don’t want to disclose this information to their colleagues.

A further 29% are against showing the content of their messages and emails to their employer. In addition, 3% even said that their career was irrevocably damaged as a consequence of their personal information being leaked. Thus, people are worried about how to build a favourable internal reputation and how not to destroy existing workplace relationships.

“As going online is an integral part of our life nowadays, lines continue to blur between our digital existence at work and at home. And that’s neither good nor bad. That’s how we live in the digital age. Just keep remembering that as an employee you need to be increasingly cautious of what exactly you post on social media feeds or what websites you prefer using at work. One misconceived action on the internet could have an irrevocable long-term impact on even the most ambitious worker’s ability to climb the career ladder of their choice in the future,” comments Marina Titova, Head of Consumer Product Marketing at Kaspersky Lab.

To ensure workers don’t fall prey of the internet threats at a work, there are some core guidelines to adhere to in the digital age:

  • Don’t post anything that could be considered defamatory, obscene, proprietary or libellous. If in doubt, don’t post.
  • Be aware that system administrators may at least, in theory, be informed about your web browsing patterns.
  • Don’t harass, threaten, discriminate or disparage against any colleague, partner, competitor or customer. Neither on social networks or in messages, emails, nor by any other means.
  • Don’t post photographs of other employees, customers, vendors, suppliers or company products without prior written permission.
  • Start using Kaspersky Password Manager to ensure your social media and other personal accounts are not at risk of unauthorised access by someone else in an office. Install a reliable security solution such as Kaspersky Security Cloud to protect your personal devices.

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