South African app uKheshe launched for micropayments - recipient needs no bank account and only a USSD enabled phone
South African start-up Jini Guru has launched a smartphone app and QR card to allow users to make micropayments electronically, to a car guard for example, without the need to carry cash.
uKheshe is made up of two parts: the app, which the payer installs on their smartphone, and the QR card, which the recipient has linked to their cellphone number (but it does not need to be an app on the phone - it could even be a printed QR code). “With the app installed, the payer simply selects the amount they wish to pay, then scans the QR code,” he said.
“The recipient is able to check their balance and withdraw cash by using the USSD code *120*82274# following the instructions and visiting the nearest Pick n Pay store.” App users can top up their app balance via credit or debit card. Those with money on the cards can withdraw the cash at Pick n Pay till points or use them in exchange for in-store goods.
User can spend up to R3 000/day or R24 000/month. The QR card costs R5/month for active cards. There is a R5 withdrawal fee, or R2 to pay for goods directly. The charge for topping up in the app is 4.5% of the deposited amount.
So it is obviously going to be very costly for someone to make lots of small withdrawals and they need to ensure their QR code remains active. The usual challenge remains with many many payment options (Zapper, SnapScan, this one and more, both parties need to be using it). Of course the more payers see a recognised payment method, the more they will install and use the app.
|SA app uKheshe launched for micropayments - TechCentral