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| Money is mobile |
In 2015 they were just three.
Now the mobile phone banking industry has FNB’s ewallet, Ebank, PayToday and PayPulse.
The latter is brought to you by Standard Bank but powered by Mobipay.
Ebank, which was linked to the first lady, had a unique approach, mainly targeting Engen Service Stations.
Mobipay is the first company that lured MTC into the mobile payment market.
However, I believed FNB’s eWallet was the sweetest slice of the pie, in my humble opinion.
This SMS option allows customers to send money to anyone with a valid Namibian cellphone number. JUST A NUMBER MEI BRU!
Then came along Paytoday and Paypulse.
It opens up a new world of consumer choice powered by on-demand technology, changing the Namibian payment experience. It is finally becoming a world where businesses don’t need to keep large amounts of money on their premises.
The Namibian consumer has long demanded convenience, control, and better service in the finance sector.
This is the result of the long relationship of trust we have developed with our phones.
Ever lost a smartphone with all your documents that you failed to back up?
We trust our phones and apps to keep our data secure and private.
If a human being can trust a phone to keep pictures of their children and all their personal “ish” safe, then you best believe that they will trust their phones as payment tools.
I wish there were statistics, but I am pretty sure that a large percentage of people pay their municipal bills with their smartphones.
So is this the beginning of the future?
This is where collaboration wins. Collaborating with key players to form partnerships that will drive the development in establishing new consumer propositions. Across multiple channels such as the obvious online, in-store and in-app.
In doing so, a safer and richer mobile payment experience will enable consumers to make daily payments.
