ZunguZ launches social media debit card

INDUSTRY

|
Image: By BiztechAfrica
ZunguZ launches  social media debit card

ZunguZ, a new, SA-born global multi-tier mobile payment platform, has started rolling out a debit card.

ZunguZ is a payment platform integrated into Facebook and provides technology to help banks migrate onto the social graph.

As with any debit card facility, the new ZunguZ debit card can be used to withdraw funds from an ATM or be used to purchase goods.

ZunguZ management believes the offering is expected to reinforce ZunguZ’s value proposition within the prepaid and financial market, and a step forward in plans to capitalise on both on-and offline banking markets.  The inherent value is the social attributes that are delivered to the pre-paid cards via the patent pending algorithms that are built into the ZunguZ platform.  The deep integration into the social graph, will bridge shopping habits of people and turn a merchants best customers into its brand ambassadors, through various mechanisms, one of these being a social loyalty platform.

The prepaid industry is driven by two clear ‘pushes’, the one being a versatile, cost-effective mechanism to accommodate un-banked consumers – and the other, a vehicle for banks and financial institutions to widen their service offering and expand their brand into previously untapped markets, says Robert Sussman, a leading South African high tech and high impact serial entrepreneur and joint CEO of ZunguZ.

“The prepaid card concept is established internationally and the industry continues to grow exponentially. One of the reasons is because it meets an immediate need – people that must take control over their finances, but do not want the additional burden of charges associated with accounts,” says Sussman.

At the same time the prepaid business model lends itself to a number of applications – including serving as vouchers and even payroll cards for large companies and enterprises.

ZunguZ is already affiliated to financial institutions and negotiations are in place to partner with other financial institutions to expand and rollout enhanced banking services to clients.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE INDUSTRY NEWS

StorIT appointed Unitrends Distributor for MENA

StorIT has announced that it has signed a distribution agreement with Unitrends. Read More

Portable solar power to the people

Schneider Electric, a global specialist in energy management, is commercialising its solar powered portable LED lamps with mobile phone charger, the Mobiya TS 120S, in order to offer innovative, reliable and affordable products to people living without access to electricity. Read More

ZipZap from Paycorp is Microsoft’s mPOS solution of choice

ZipZap, the mobile POS (mPOS) solution from Paycorp, has partnered with Microsoft Mobile to offer businesses and retailers a mobile solution that enables them to accept payments from customers wherever they are, transacting anywhere, anytime. Read More

Frost & Sullivan applauds PCCW Global for addressing SSA connectivity demands

PCCW Global, the international operating division of HKT, Hong Kong’s premier telecommunications service provider, has been recognized by Frost & Sullivan with the 2015 Sub-Saharan African (SSA) Connectivity Solutions Customer Value Leadership Award.  Read More

Airtel Money VISA card continues to drive financial inclusion

One year after Airtel Kenya launched the Airtel Money VISA card, the debit card continues to allow easy access funds 24 hours a day, bringing new point-of-sale and ATM transaction options to users.             Read More

Ricoh’s improved A3 multifunction devices monitor, report and connect to the cloud

Ricoh has released its new 3054SP/3554SP series of A3 black-and-white multifunction devices, for medium to large offices, that support intelligent document functionality. Read More

Dell continues innovation with growth of comprehensive education solutions portfolio

Dell is maximising engagement in the classroom by releasing a range of education solutions to meet individual learning needs. Read More

FVC signs with Pivot3 for its Hyper Converged Infrastructure solutions across MEA

FVC, a leading Value Added Distributor (VAD) in the Middle East & Africa (MEA), has partnered with Pivot3 to deliver hyper-converged appliances and solutions to its partners throughout the Middle East and Africa. Read More

Five good reasons to buy properly licensed business software

If you’re running a small business on a tight budget, you might be tempted to think of pirating your accounting or ERP software as a harmless way to save a bit of money. Think again - that pirated software could end up costing you more than you would have needed ... Read More

Q-KON enlarges its African footprint with Newtec certified partnership

Q-KON has recently boosted its footprint into Africa by establishing its partnership with the global Newtec Business Partner Program (bePART®) and is therefore an official distributor of Newtec satcom products. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

IHS plans to inject fresh $500m to grow capacityIHS plans to inject fresh $500m to grow capacity

Mohammed Darwish, managing director of IHS Towers, says the firm will soon inject another $500million into the business after raising some $2.5billion to finance expansion drives. Darwish spoke with biztecafrica.com in Lagos.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.