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At the end of 2012 we reviewed a mobile money offering that was just at the beginning of its growth. The service allows you to purchase prepaid airtime and electricity, receive money, and deposit or withdraw money from Pick n Pay or Boxer stores. Nineteen months later, MTN have launched a mechanism which will allow you to take your money everywhere.

MTN have launched a VISA card for the Mobile Money users. This card can be purchased at Pick n Pay and Boxer stores, and can be ready for use within three days.

What can it do

The card will be connected to your Mobile Money, and has access to the funds that are stored in your Mobile Money account. The card can be used to pay for goods and services at merchants that accept VISA, as well as allow you to withdraw funds from it at ATM’s around the country (for when you need cash).

Costs

After purchasing the card pack for R29 (once-off), the MTN Mobile Money VISA card offers the card service without any annual or monthly fees, including unlimited free swipes.

MTN Mobile Money

How to get your card working

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

  1. Get your Mobile Money VISA Card at any Pick n Pay or Boxer store
  2. Dial *120*668# and enter your Mobile PIN
  3. Select “More”, then select “My Account”
  4. Select “Mobile Money Card”, then select “Activate Card”
  5. Select the account on which to activate your Card if you have more than one account
  6. Accept the Mobile Money Card Terms & Conditions
  7. Enter the 11-digit barcode number displayed on the back of the Card
  8. Enter the last 4 digits of the 16-digit number on the front of the Card
  9. You will receive a confirmation SMS that your Card has been successfully activated

 your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dp

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpuf

After you’ve set up your Mobile Money account, simply follow the below easy steps to get your Mobile Money VISA Card working:

Step 1: Get your Mobile Money VISA Card at any Pick n Pay or Boxer store

Step 2: Dial *120*668# and enter your Mobile PIN

Step 3: Select “More”, then select “My Account”

Step 4:  Select “Mobile Money Card”, then select “Activate Card”

Step 5:  Select the account on which to activate your Card if you have more than one account

Step 6:  Accept the Mobile Money Card Terms & Conditions

Step 7:  Enter the 11-digit barcode number displayed on the back of the Card

Step 8:  Enter the last 4 digits of the 16-digit number on the front of the Card

Step 9:  You will receive a confirmation SMS that your Card has been successfully activated

– See more at: http://www.mtnblog.co.za/mobile-money-card/#sthash.xVICNDEQ.dpu

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South Africa has over 10 million unbanked citizens, a mobile penetration rate per unique subscriber of more than 66% and a total mobile connections rate of 138% [GSMA: October 2012].

The perfect landscape for mobile money solutions, right?

Then why have we not seen the success with mobile money transfers that other African countries have? A few attempts have been made at models that worked exceptionally in other markets on the continent, but not nearly with the same degree of success.

M-Pesa Kenya versus M-Pesa South Africa is a clear enough indication.

Safaricom launched M-Pesa in Kenya in 2007 and the service is now being used by over 17 million Kenyans. Apart from Kenya, M-Pesa is starting to do well in other countries, including Tanzania and Afghanistan.

The Economist previously cited several reasons why Kenya has been so successful in this venture.

  • The high cost of sending money via other methods
  • The dominant market position of Safaricom
  • Allowance by the regulator for the scheme to initially proceed on an experimental basis without formal approval
  • A clear and effective marketing campaign
  • An efficient system to move cash around behind the scenes
  • The post-election violence in the country in 2008- M-Pesa was used to transfer money to people trapped in Nairobi’s slums at the time
  • Network effects- as more people used it, it made sense for others to sign up

SA could conceivably emulate some of these characteristics (I’d rather we skip the violence thanks). So why hasn’t it been as successful here? Well, simply because SA isn’t Kenya.

This imperative point was seemingly overlooked with implementation in SA. What works for one country doesn’t necessarily work for the other, especially when a carbon copy type approach is adopted.

It’s like saying that just because two girls are from the same family, one dress will suit them both perfectly- not taking into account their different shapes, colouring and sizes. While there might be some similarities between them, the dress would no doubt have to be tailored to suit the specific physique of each girl.

The same goes for any innovation or development in a country. It must be moulded to suit the needs, environment and demographics of that specific country.

Delete customer costs

This blanket view of African nations is, however, not the sole point that can be held accountable for SA’s slow uptake in this ripe area.

There are several of these and one of the most glaring ones is the high cost of transaction fees. This is especially problematic when considering the economic level of the target market and the amount of money they would need to transfer at a time.

The small amounts of money they want to transfer can’t justify the large fees they must pay to do so.

In an interview with ITWeb, Nnamdi Oranye, business development manager at telecoms consultancy Indian Atlantic, said transaction fees should be waived completely.

“A money transfer revolution is happening in Africa, but short-sightedness is scuppering what could be a trans-continental economic success story. Traditional ways of thinking about how to generate profit are blinding financial institutions to the vast possibilities that mobile money transfers offer across Africa and the developing world.”

He instead suggests linking the free service to paid adverts, offering attractive paid products in conjunction to the free service, or allowing the basic transaction service for free but implementing a payment structure when frequent use by that subscriber is detected or when they want to use it for business purposes.

Other issues standing in the way of a South African mobile money transfer success story are the integration required on the banking side to connect to the digital wallet, money-laundering concerns and legislation.

With the need for financial inclusion in SA, mobile money solutions have a huge role to play in bringing the formal economy to the unbanked. So let’s try it again.

Weview Wednesday : m-pesa

Rowan —  November 7, 2012 — Leave a comment

Today we have decided to weview the mobile money transfer facility from Vodacom: m-pesa. The service is not only confined to the borders of our country and m-pesa is one of the most highly advertised wallet platforms. Vodacom m-pesa is a fast, safe and easy way to send and receive money with your cell phone. It is like having instant cash in your hand and you don’t even need a bank account. m-pesa lets you convert cash into mobile money and withdraw cash at any authorised m-pesa outlet. Once you have money in your m-pesa account, you can send it to anyone, anywhere in the country. You are also able to buy Vodacom airtime for yourself and others.

As it’s a product of Vodacom we decided to take a look…

How to register?

Pretty simple really: the “sender” would need to go to an “m-pesa outlet” such as any Vodacom Store (4u or shop), Nedbank Branch, Pep Store, community containers (sponsored by Vodacom), selected retailers and spaza shops (these would have the Vodacom m-pesa sign). A user needs to bring along their ID and the money you would like to send (between R10 and R5000) and then complete the application form, which takes only five minutes. An sms will then be sent through to your handheld device once the registration is complete. This SMS will include a pin as well (which you can change) and once the *130*7372# is dialed – Bob’s your uncle – you are ready to send money!

This cellphone process is run via USSD, and works on the backbone of the Vodacom network.

How to send money?

Another simple USSD process – dial *130*7372# and thereafter follow the prompts:

1. Enter phone number for which the money is intended

2. Enter Amount

3. Enter your pin

4. Confirm

This money can now be withdrawn from any m-pesa outlet, listed above, by the receiver. Alternate options for the use of the money from the m-pesa wallet can be found on the USSD menu of the wallet holder. These alternatives include the following:

1. Send money (to another person)

2. Withdraw cash (from the m-pesa wallet)

3. Buy Airtime (for yourself or any other Vodacom subscriber)

4. Pay Bill

5. ATM Withdrawal (from any Nedbank ATM)

6. My Account (view balances etc)

We really think that the m-pesa service is fantastic in terms of simplicity and ease of access to money. In the rest of Africa people use m-pesa to pay for their taxi fares to regular bills and we really hope that the service grows in South Africa so that we can all become regular users of this excellent product.

Pro’s:

• This is a broad service offering and can touch a market that is widespread as there are many platforms for money transfer (from the outlets as well as atm’s)

• The Vodacom network can be trusted for safety, security and consistency

• m-pesa is very cost effective with only the R2.50 charge on the sender if transferring to another Vodacom subscriber, and R10 to a non-Vodacom subscriber. ATM withdrawals are set at only R6

• With a large amount of outlets and great partners on board such as PEP and Nedbank – the money from the wallet is easily accessible during working hours and also via ATM at night if need be

• Staff were friendly to and helpful at Vodacom outlet (we visited a Vodacom 4U)

• Extensive offering of services as per the main menu

Con’s:

• Its always a headache to go through to a store to register (but mandatory with FICA laws being strict)

• A larger cost if dealing with a non-Vodacom subscriber

• Network access dependent – would work for the tech savvy and educated non-tech savvy