Absa has been piloting a mobile payments app called Sling Pay in recent months, and may officially launch the service following its rebranding in July 2018.
Sling Pay allows Absa clients to send money to anyone using the recipient’s cellphone number, enabling payments to people without bank accounts.
While Sling Pay has much in common with Absa’s existing CashSend product, it also includes mobile wallet services – such as buying prepaid electricity – and mobile services such as airtime and data purchases.
It also allows recipients to leave money in their Sling Pay wallet and only withdraw the cash when they need it. Cash may be withdrawn from Sling Pay wallets at any Absa ATM.
Features such as paying bills through Sling Pay are also in development, according to Absa.
If you are an Absa client, you will also be prompted to link an ATM card and bank account to Sling Pay.
Absa was contacted for more information about the new app, but did not respond to questions.
The fees for Sling Pay from Absa’s 2018 pricing brochure are summarised below.
|Absa Sling Pay|
|Transfers from Absa accounts to Sling Pay|
|CashSend||R8.57 + R1.41/R100|
|Transactions from Sling Pay|
|Cardless Cash Deposit||R6.05 + R1.61/R100|