Shoprite Money launches in South Africa

Access to banking services has just got easier in South Africa with the introduction of  Shoprite Money – a new mobile transactional banking service.

Using a Shoprite Money mobile wallet, even those without existing bank accounts will be able to deposit, withdraw or send money as well as buy groceries at any  till point in Shoprite, Checkers, Checkers Hyper or Usave stores across South Africa.

People will be able to 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 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 instore.

Article continues below...

“Basic transactional banking services in South Africa are expensive and in many cases still not accessible to a large number of South Africans.

We believe Shoprite Money will have a marked impact on economic activity in South Africa,” said Joseph Bronn, Chief Business Officer at the Shoprite Group.

Shoprite partnered with global fintech company Celbux, Google and Standard Bank to launch the new service.