A mobile wallet

R1.00 to transfer from m-wallet to m-wallet.
R5.00 to put money into the m-wallet from a bank account (EFT)

It seems that you pay for free, though I'm sure they'll nail the recipient (merchant).
Interesting.

I don't like having to pay to give them my money though, it's not on my list of things that I should be paying for.
There was something about linking credit cards ... could not find the details though.

There was some hype in the article about this m-wallet thing being available to people without bank accounts.
But, the only way to put money into the m-wallet is for somebody else to transfer money into it (R1.00) or to use a bank account.
Well, I spoze you could insist that you get paid to your m-wallet instead of in cash.
And, then you can pay for your taxi by m-walleting to the taxi co-pilot.

I wonder if the co-pilot can receive an SMS on m-wallet payment.
[edit]Yup, the co-pilot can select sms as the means of notification for the payment.

The only thing that sucks with this system is that m-wallet "account number".
Surely they could have recognised that letters and numbers are available from which to compose the account number.
#130*1313#FelixTaxis would be a cool account number.

When your customers dial your SWAP Code, they’ll be taken to your payment screen. The payment screen is a text-based menu system that displays information about your business – such as contact details, news and specials
Click to expand...
AWESOME!
 
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I've got a feelings this is gona take the same direction as all these other snazzy payment models.
I don't wana have to carry my cellphone around to pay at Pick 'n Pay - but then agen im probably in the target market scope! On that note - who is this really really suited 4?
 
I'll, tell you this. I wish somebody would get something working. I have a business idea and I can't get it off the ground until people can pay me via cell without working through a stupid wasp that takes all the money.

Talk about lowdown sleazy business = WASP's
 
spykoss said:
I've got a feelings this is gona take the same direction as all these other snazzy payment models.
I don't wana have to carry my cellphone around to pay at Pick 'n Pay - but then agen im probably in the target market scope! On that note - who is this really really suited 4?
Click to expand...

Huh?!?!? Isn't that what someone does with a cellphone?
 
Fnb banking is still the best. And reliable. Unlike SWAP, IF SOMETHING GOES WRONG WHO AM I GOING TO APPROACH PERSONALLY?
 
This service is common in Japan and some other South East Asian countries.
It's called FeLiCa. Apparently its very popular and works well for micropayments.
 
They have been working on this type of payment here for a while now and I know in some coutries it is fairly successful. As far as using an ABSA account to transfer money into your m-wallet I have not heard anything yet.
 
Dunno, looked at their pricing, it might be out of bound for smaller merchants and south africa has maybe a population where there are more cellphones as people, but most of them will probably not use this service and for those who might use it they have a probably a wallet full of credit cards and other means to settle bills
 
I don't get it. What's wrong with cash and existing cards? Small merchants want notes and coins in the hand. No records, No tax.
 
I wonder if this could somehow work in a bar/club situation ...
Stand at bar, order yer drinks:
BarPerson: R82
You: m-wallet number?
Barperson: 146324
You:Enter 146324 as the order code for the reference number to the bar's 1313 account on your cell phone.
Barperson: Gets sms on his phone saying R90 paid. Enters Paid to me on the register.
You: Done.
Barperson: At the end of the night, pays the required monies to the club/bar account, and keeps the tips.

Erm ... sounds like a lot of hassle .. this environment is too fast for that mechanism ... or is it?
And ... losing R1 every time you order is really really not on.
 
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The problem has always been and will always be learning curve. To gain any kind of critical mass, at some or other point you're going to have to target the lower income earners in the country - and if they find the process in any way cumbersome, then the system dies.
 
stoke said:
Erm ... sounds like a lot of hassle .. this environment is too fast for that mechanism ... or is it?
Click to expand...

If busy Japanese have the time for it, and its fast enough for them...
I don't think we're busier here (our pace of life).
 
stoke said:
R1.00 to transfer from m-wallet to m-wallet.
R5.00 to put money into the m-wallet from a bank account (EFT)
Click to expand...
Wallet to Wallet transfers are free. SWAP's test website displayed this info of R1.00, and users who navigated to the test website before the launch this month could possibly have the old sites pages stored in their cache. Clear cache to view official website.

EFT's to a Wallet are free. The R5 is charged if you want to run a debit order from your Wallet to your bank account. If a Wallet receives standard EFT's from any bank account (including salaries/wages) there are no charges to the Wallet.

stoke said:
And ... losing R1 every time you order is really really not on.
Click to expand...

Credit and debit Wallet payments are not charged for when making payments to a SWAP Code.
 
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stoke said:
I wonder if this could somehow work in a bar/club situation ...
Click to expand...

Could definitely work!
Payments are made to the barman’s' SWAP Code. He receives instant sms notification of the payment. No fees are charged to the person buying drinks, whether paying with a linked credit card or from the debit Wallet.
 
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Kkkurupt said:
Fnb banking is still the best. And reliable. Unlike SWAP, IF SOMETHING GOES WRONG WHO AM I GOING TO APPROACH PERSONALLY?
Click to expand...

If you like FNB banking, you will love SWAP. Also USSD based, and similar methodology. Add the benefit of being able to use SWAP regardless of who you bank with, or what network you are with. Also, payments are free of charge, beneficiaries are not restricted. The other benefits (of which there are many) can be viewed at www.swapmobile.co.za.

SWAP has a Customer Care Centre to handle all queries 0861 1179 27. Account managers provide support to SWAP Merchants and SWAP's Head Office is based in Pretoria.
 
@SWAP_Marketing: what USSD price band is being charged (to our cellphone airtime) for using the USSD interface?
 
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