Wallet One South Africa announced the launch of its Third Party Payment Service, offering a cost effective digital payment solution to encourage financial inclusion in the national payment system for all South African Consumers.
The W1 wallet enable users to purchase prepaid services including airtime and prepaid electricity, pay bills, send money to friends or family and shop online without requiring a bank account or any paperwork. All that is required to open a Wallet One virtual wallet is a valid RSA I.D. Number and a cell phone.
One of the major advantages for users is the discount rewards earned when paying for goods or services. Paying via the W1 wallet users receive discounts of 1- 10%, and more depending on the service provider. Thanks to the referral reward program a Wallet One wallet subscriber receives R15 for each new user account referred and activated.
Online merchants gain access to new markets previously inaccessible due to the exclusion of many South Africans from financial services by main stream financial institutions, while Wallet One enables bill issuers to increase their collections from a still largely cash based society, through a convenient and safe digital payment solution. Merchants and bill issuers will gain renewed customer loyalty through Wallet One’s exclusive rewards programs, low cost and secure, easy, anywhere, anytime digital and mobile payment solutions.
“We subscribe to the ethos that all South Africans should have access to world class, yet affordable payment solutions and to that end we endeavour to offer secure, easy, anywhere, anytime payment solutions and to introduce these payment solutions to our society as inexpensively as possible, offering immediate discount rewards, thereby lessening the burden of high transaction costs of traditional mainstream cash payment options and bettering the financial well being and lives of all Wallet One subscribers,” comments Alan Bird, CEO at Wallet One South Africa. “Our next step will be the launch of W1 Checkout – an aggregator of electronic payments for online merchants and service providers.”