TUESDAY, 9.30AM
SOUTH AFRICA’S first private ‘virtual network’ was launched on Monday, a R50-million venture offering electronic commerce and financial services at lower costs, thanks to shared infrastructure and costs.
The driving force is Dimension Data, which has linked up with Nedcor, Wooltru (which owns department store chains such as Woolworths, Dions and Makro) and Old Mutual. Customers will be encouraged to allow data on their spending habits to be circulated within the network, improving the marketing and delivery of services within the network.
Other companies including online ticket booking agencies and petrol stations will be brought into the network, providing their customers with centralised electronic funds transfer.
Meanwhile, Nedcor announced that it has bought a 25,1% stake in Dimension Data’s expanding Australian business, as a first step towards looking at other global opportunities, particularly in Asia.