E-Wallets what do you think?

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cwmacker

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I was wondering what do you think of e-wallets in South Africa? What do you think the businesses should do in order to make these wallets more appealing?

*Please note this could be used as research for a university project.
 
I like them. Had to buy my oppikoppi tickets with mimoney, the money is stored as a unique code, in an SMS on your phone. Very convenient for e-transactions without a credit card.

Also I really love the concept of Bitcoin.
 
I've never really been one for e-wallets - maybe I'm too traditional (or too old). I'll use my card or EFT's for most purchases. I was taken a few times by a US-based company (can't remember the name offhand) a number of years ago, and haven't really looked at them since.

From an appeal point of view, maybe a bit more "layman's marketing" on how they really work, not the pull-marketing to draw you in. I would want to know about the nuts and bolts of the security, what it can do or be used for without pushing me to select sites, etc.

Many people are still very apprehensive when it comes to loading money/funds into something that is not tangible and stored in the ether of 1's and 0's...
My experience with feedback from people is e-wallets "seem" quite complicated to use if you're targeting a novice user or non-tech-savvy person. Remember when ATM cards were introduced? They had a very slow uptake initially, but now they're commonplace in 99% of people's lives.

Maybe given some time, people will accept this is the way things are going, and although the concept is not new, there's a lot of convincing to do to win public trust, particularly in these hard financial times. ;)
 
Synaesthesia said:
I like them. Had to buy my oppikoppi tickets with mimoney, the money is stored as a unique code, in an SMS on your phone. Very convenient for e-transactions without a credit card.

Also I really love the concept of Bitcoin.
Click to expand...

www.mybitcoin.com got hacked or the owner took the site down and stole coins. I lost 21 coins :( FML.
 
Thanks for the feedback guys i really appreciate it. From my research fnb has made about R1bn since the launch of their ewallet, however one must be an account holder to send money using their wallet. My question to you is what if there was a new wallet that was not bank specific that could be used as a "bank account" to pay for goods of services over sms or mobile website? one would make payments into their account or wallet through debit order or making a cash deposit into the companies bank account with your cell number as reference or do an internet banking transfer to their bank account with your cell number as reference. Would that be something that is appealing to you?
 
Cold, hard, cash in your hand. However, if there was one major e-wallet service then maybe, but there are just loads of small ones.
 
tushay. And what if they could prove to you their security was up to par with the big banks? And what if for instance they where involved with master card, like a master card affiliate?

Thanks for the help man...
 
cwmacker said:
I was wondering what do you think of e-wallets in South Africa? What do you think the businesses should do in order to make these wallets more appealing?

*Please note this could be used as research for a university project.
Click to expand...

Please stop posting multiple threads in different places. It's annoying to see the same topic show up all over the place.
 
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