Instant Money transfers now at 50 000 access points nationwide

This story is sponsored

Standard Bank’s Instant Money cash transfer product has more than tripled its access points in nine months. The bank recently announced that the service is now available at approximately 50 000 access points in South Africa. In November last year the bank had 15 000 access points. 

Instant Money is a money transfer product that allows consumers who do not have a bank account to send and receive cash. Funds can be transferred using internet banking, ATMs, the banking app and cellphone banking. The service is also available at various retail partners. 

With Instant Money, a limit of R 5000 per day can be sent from PEP, Spar, Cambridge Food, Game, Makro, Builders Warehouse and Rhino stores. Withdrawals can be made from the same stores as well as at Kazang outlets, select OTT partner stores, Pick n Pay, Boxer, Shoprite, USave, Checkers, OK Furniture and House & Home nationwide.

The recent boost in access points was due to the inclusion of Kazang, a prepaid value-added services (VAS) and micro-payments company that offers shopkeepers the opportunity to increase their revenue by selling prepaid vouchers for a variety of services, including airtime and electricity, lotto tickets, more than 120 bill payments and Instant Money voucher redemptions. The recent partnership with Kazang, which is part of the Connect group of companies, has increased Standard Bank’s instant money access point by approximately 31 000. 

“Innovation and access to financial services is crucial for Standard Bank, and that is why we continue to expand our retail footprint to offer our customers more options for using Instant Money,” says Nelisa Zulu, Head of Card and Payments at Standard Bank South Africa.

About Mail & Guardian Sponsored Stories

The Mail & Guardian’s sponsored stories are produced in association with paying partners. If you would like to speak to our team about producing and publishing high quality content on our site, please contact us at this email address.

Related stories

Your M&G

Hi , To manage your account please click here.

You can access your digital copy of this week’s paper here.

Advertising

Today's top stories

What’s in store for SA as the ANC implodes?

As the increasingly less relevant ANC vacates the middle ground and the centre-left, a void opens, which will urgently need to be filled

Following the wildlife traffickers’ money

The illegal wildlife trade is one of the most profitable criminal enterprises worldwide, but only recently has the focus shifted to investigating its financial flows

Story of a whistleblower: ‘Baba, do you think you are...

Whistleblower Thabiso Zulu can’t explain his situation to his son, but continues to expose wrongdoing and show solidarity with others

Cele, Sitole beef continues at hearings into July’s unrest

The minister again accused the commissioner of being missing in action when the violence raged in KwaZulu-Natal

Shell gets go-ahead to proceed with seismic blasting on the...

The high court refuses to interdict seismic survey on the basis that ‘irreparable harm’ to marine species not proved
Advertising

press releases

Loading latest Press Releases…

×