Mxit Money now in SA
VALUE ADDED SERVICES| Aug. 22, 2012, 10:59 a.m.
Mxit and Standard Bank have joined forces to provide real money transactions for Mxit’s 10 million active South African users through Mxit Money, its mobile commerce platform.
Mxit users can now send money to each other for free, as well as to anyone with a cell phone for a nominal fee. They can deposit and withdraw cash, buy Mxit Moola, airtime and electricity using money from their Instant Money account via Mxit Money.
According to Mxit CEO Alan Knott-Craig, this will open the social network up to immense retail and trade possibilities, giving South Africans a great opportunity to capatalise on the growing trend towards mobile payments.
“This partnership allows us to offer users the ability to transact in the real world from within their social network. Mxit Money is the portal to a mobile marketplace of 10 million users who, with real money, can purchase content and access applications from our development partners,” says Knott-Craig. “To top it off, Standard Bank, an African bank, is showing the world how to integrate the old world with the new. A bank and a social network are working together to make life easier. Our users win, our partners win and the bank wins.”
Mxit developed the application in collaboration with the Payments Team at FireID, a technology and innovation company from Stellenbosch.
The initial roll out will be limited. Mxit users can register on the Mxit Money contact or via the iPhone app and once a space is available, they will be notified.
MORE VALUE ADDED SERVICES NEWS
Airtel Uganda money transfer voted best digital financial serviceAirtel Uganda was voted the Best Digital Financial Service of the year at the Digital Impact Awards Africa held at the Sheraton Kampala Hotel. Read More
DRC civil servants hail mobile banking, ICTsCivil servants in the Democratic Republic of Congo (DRC) have described mobile banking as the ‘biggest miracle’ of the 21st century. Read More
Streamed services to push digital music sales to $14bn by 2019A new report from Juniper Research found that the digital music industry will experience slow growth in revenue over the next 5 years, from $12.3bn this year to $13.9bn in 2019. Read More
Airtel, Tigo launch cross-network money transfer service in TanzaniaBharti Airtel has announced the introduction of a service that will allow customers send and receive between Airtel’s mobile money service and that of Tigo in Tanzania. Read More
Airtel, VeriFone Mobile Money speed up merchant enablementBharti Airtel and VeriFone Mobile Money have reached an agreement to offer VeriFone Mobile Money’s merchant enablement applications for mobile Tap n Pay across Airtel’s 17 operating countries in Africa. Read More
Safaricom cuts fees on low and medium value M-PESA transfersSafaricom has announced a targeted reduction of transaction fees levied by the operator on its most popular person to person M-PESA transaction bands. Read More
Stakeholders meet over Ghana mobile moneyStakeholders from Ghana’s financial and telecoms industry have held talks at an MTN Stakeholders Forum in Accra to discuss the way forward in the quest to make Ghana a cashless society. Read More
Village saving associations get mobile money productAirtel Uganda, Grameen Foundation and Plan Uganda have introduced a new Group Savings product for Village Savings and Loan Associations. Read More
Nigeria’s VAS providers ‘on brink of extinction’WASPAN chief Simon Aderinlola says unless the regulator intervenes, WASPAN may not have anything left to regulate. Kokumo Goodie reports. Read More
FEATURED STORYNigeria’s VAS providers ‘on brink of extinction’
WASPAN chief Simon Aderinlola says unless the regulator intervenes, WASPAN may not have anything left to regulate. Kokumo Goodie reports.
BEST READ NEWS
IN DEPTHKenya rolls out e-extension to improve agriculture
In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.
COMPANY NEWSSage CRM is Umsinsi Health Care’s engine for growth
Umsinsi Health Care, a distributor of medical products, has enhanced customer service and streamlined its business processes by implementing Sage CRM as its customer relationship management platform.VMware delivers new innovations for the open, agile, secure software-defined data centre
Industry’s most complete software-defined data centre portfolio helps customers slash CAPEX by nearly 50 percent and improve IT productivity by 100 percent or more.Alex families receive Schneider Electric solar lamps
Schneider Electric, a specialist in energy management, has partnered with Rays of Hope, a non-profit organisation, providing 28 schoolchildren and their families in the northern Johannesburg township of ...