Shoprtite has teamed up with banking group Standard Bank, global fintech company Celbux and to launch mobile money services in South Africa.
The retailer said Shoprite Money is available to users aged 18 years and older with a valid South African Identity Document, irrespective of their mobile network, device or connectivity.
Users can register for an account free-of-charge by dialing *134*3534# or by visiting the Money Market counter in any Shoprite, Checkers, Checkers Hyper or Usave store.
Customers can also send money, buy electricity or airtime from the comfort of their own homes, provided they have funds in their Shoprite Money account. All transactions are FREE with the exception of a R9.95 fee that only applies to cash withdrawals.
Shoprite Money is set to roll out in multiple countries in Africa over the next 12 to 18 months, which will hold additional benefits for customers including seamless and cost effective cross-border remittance.
“Basic transactional banking services in South Africa are expensive and in many cases still not accessible to a large number of South Africans,” Joseph Bronn, chief business officer at the Shoprite Group, said in a statement.
“We believe Shoprite Money will have a marked impact on economic activity in South Africa.”