Business owners can now pay their staff via Shoprite — for free
- Africa's largest food retailer has expanded its money services to cater for businesses.
- Businesses can now pay their staff or other recipients using Shoprite Money, a mobile transactional service launched this year.
- The mobile wallet allows users to deposit, withdraw and send money, buy groceries, electricity and airtime; all using their Shoprite Money account.
Shoprite has rolled out payroll transactions to business owners.
Businesses can now pay their staff via Shoprite Money, a mobile wallet which enables customers to deposit, withdraw or send money as well as buy groceries at Shoprite and Checkers stores. Users can also buy airtime and electricity with their wallet. It was launched in May 2017, and has 100,000 users. Users control their money through their phones.
Now businesses can pay their staff, even those without bank accounts, using Shoprite Money. Money is transferred from businesses to staff's Shoprite Money wallets - for free. All transactions are free, except for cash withdrawals, which cost R9.95 per withdrawal.
There is a transfer limit of R5,000 per employee per day, and R25,000 per employee per month.
The biggest player in the mobile wallet space in South Africa is FNB, which currently has more than 6 million eWallet accounts. Last month, it reported that R21 billion was sent via FNB eWallets in the past year - up 41% from the previous year.
Receive a single WhatsApp every morning with all our latest news: click here.
Also from Business Insider South Africa:
- This is SA’s first dagga beer - now available for R18 a bottle at Spar
- There's a secret adventure game inside Google Search — here's how to play
- Leaked internal memo shows how Bank of America is trying to persuade London bankers to move to Paris
- Italy budget fears spark another selloff as 10-year bond hits 2014 high
- How the researchers who won the Nobel Prize in medicine transformed the way we treat cancer
- Google will let some people play one of the biggest video games of the year for free — even if you have a lousy PC