Weview Wednesday with Mimoney

Rowan —  September 19, 2012 — 1 Comment

Mimoney is a payment mechanism that allows you to transact electronically without using your card. You can use Mimoney for online purchases at certain merchants as well as certain retailers that accept the Mimoney vouchers. We decided to test out the Mimoney application and logged onto http://www.mimoney.co.za . Most of the retailers that accepted Mimoney were actually online stores. We thought we would test out buying a movie ticket at Ster Kinekor.
To buy a Mimoney voucher that will be accepted you have a few payment options:
Option 1 – Eft transfer
Option 2 – Standard Bank Autopay. Standard bank internet banking process followed. ( One could actually use your internet banking to buy a Ster Kinekor ticket)
Options 3-5 are Payfast. You get redirected to Payfast site. Again you can pay using Autopay and eft option); a Mimoney Terminal, Ster Kinekor Counter(also physical, defeating convenience intention)
After payment 18 digit sms voucher is sent to your cellphone. You can continue to book your movie ticket on Ster Kinekor website and input 18 digit voucher under the payment section when booking movie. You then receive confirmation number for the ticket. Once you get to the cinema you still have to redeem your confirmation number for a physical ticket.
Our conclusion of regarding the whole process:
The Pro’s:
It does provide an alternative to using a card when paying, as it can be paid for via eft or Autopay(only standard bank customers) immediately, thereafter it can be redeemed at the Self-help machines. It would work for Standard Bank card holders with Savings accounts who don’t have cheque or credit cards, but internet banking has to still be available.
The Con’s:
The payment process’s have to still be followed i.e. Autopay(Standard Bank), EFT (for other banks)Mimoney terminal, Payfast(Autopay or eft). This means the whole process is long and tedious -thereafter still going to the self-help machine to redeem ticket.
With many customers using the self-help or online purchase with cheque or credit cards, the queues are not as long as a few years back, therefore going to the counter and paying with cash or debit cards you can still get you to the movie ontime.


Trackbacks and Pingbacks:

  1. Weview Wednesday – wiWallet/wiGroup | Prepaid Easy - October 31, 2012

    […] you to pay for in-store purchases via their mobile phones. As mobile wallets such as Pocit and mimoney grow in popularity the difficulty is finding a physical store that accepts payments has become an […]

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