• Vodacom’s digital marketplace app is getting two new mobile money services.
• Now, users on the app will be able to deposit money directly to their account via a store like Pick n Pay or Game.
• VodaPay now also allows users to send money to others on VodaPay. Users can do so without needing a bank account.

The “super-app” of Vodacom South Africa is getting new mobile money features, including the ability to deposit and send money.

Previously the app served as a sort of digital marketplace, where local merchants and SMEs could offer goods and services at a discount. It initially launched in October 2021 after a lengthy period of development.

On Tuesday, Vodacom introduces Deposit and Send Money services to the Vodapay app.

Make bankless deposits

According to a press release sent to Hypertext, VodaPay’s “Deposit Money” function makes it possible for users to add cash for free into their VodaPay Wallet through Vodacom stores and selected national retailers such as Pick n Pay and Pick n Pay Express, Boxer, PEP, Ackermans, Makro, Rhino Cash ‘n Carry, Game, Builders Warehouse and Cambridge Food.

Simply head to one of these outlets and ask to deposit the money directly to your VodaPay account. Vodacom says money can be deposited to the app in Spaza shops if the merchant uses Kazang.

With cash loaded in their VodaPay Wallets, customers can buy products or make payments online through the VodaPay app, as well as earn rewards or take advantage of daily deals on the platform.

“Customers can use the money in their VodaPay Wallets to buy electricity, airtime and data, as well as to pay bills without incurring extra charges. The digital Wallet also offers a secure way for users to store their money as it eliminates the need to carry cash,” the telecom explains.

Send money through VodaPay

The second new feature is the Send Money service. Here, the sender needs to log into VodaPay, select the “Send Money” option, choice a bank or ATM to use, specify the amount to be sent, and then click accept.

According to Vodacom, the account number of the receiver will be the mobile number they use to sign into their VodaPay app, so it looks like both the sender and the receiver need accounts.

Once the money has been sent, the receiver can withdraw the physical cash from the chosen cash-out outlet. VodaPay cash-out partners include Pick n Pay and Kazang, as well as Cash Express ATMs and OTT agents. 

Vodacom will charge you a fee of R8 plus 1 percent for money withdrawn at retailers and a fee of R8 plus 2 percent for money withdrawn at ATMs. So it would be best to send smaller amounts so as to not incur too many fees from the telecom.

Both new features can be performed without a bank account and only require you to have an account with Vodapay.

“Both banked and unbanked users can deposit and/or send money from their VodaPay Wallet, securely, cost-effectively and instantly. By building broader, more convenient offerings onto VodaPay, such as deposit and cash-out networks, we aim to enable more people to use and benefit from digital financial services,” says Mariam Cassim, CEO of Vodacom Financial and Digital Lifestyle Services. 

“For both unbanked and banked customers who want the convenience and unmatched benefits of the VodaPay Wallet, the Deposit and Send Money service is a convenient and secure method to store and access money. We have also chosen specific partner channels that make the service even easier and simpler to use,” Cassim concludes.

Some of the merchants and stores already on VodaPay include brands such as Makro, Builders’ Warehouse, Clicks, Edgars, Game, Exclusive Books, Hirsch’s, Kit Kat, KFC, TravelStart, Afritrails, Booking.com, Wimpy, Sorbet, FlightSite, NetFlorist, Planet54, Flook and OneCart.

[Image – Provided]