The Shoprite Group has announced ‘Shoprite Money’ – a new mobile transactional banking service which is available to everyone, even those without existing bank accounts the retailer said in a statement on Wednesday. The service has been launched in partnership with global fintech company Celbux, Google and Standard Bank.
“Using their Shoprite Money mobile wallet, this new service will allow customers to deposit, withdraw or send money as well as buy groceries at any of the till points in all Shoprite, Checkers, Checkers Hyper or Usave stores,” it said.
Customers can also send money and buy electricity or airtime using their mobile phones, provided they have funds in their Shoprite Money account.
“Basic transactional banking services in South Africa are expensive and in many cases still not accessible to a large number of South Africans,” said Shoprite group chief business officer Joseph Bronn in the statement. “We believe Shoprite Money will have a marked impact on economic activity in South Africa.”
Shoprite Money will be rolled out in several other countries in Africa over the next 12 to 18 months, offering cross-border remittance