FORGOT YOUR DETAILS?

Payment24 Mobile Wallet & Money Transfer

The Payment24 Mobile Wallet was designed for small, medium and large retailers wanting to launch their own mobile wallets. It is perfect for non-banked consumers or consumers who are security conscious and don’t want to disclose personal information such as credit card details. The Payment24 Mobile Wallet allows consumers to securely store and spend funds and optionally link their credit cards to their mobile wallets as funding mechanism. To fund, simply enter the CVV number and amount. Once linked to the wallet, consumers never have to enter their credit card details again.

How does it work?

Download Mobile Wallet & Register

Fund the Mobile Wallet

Spend at Approved Merchants

Methods of funding Mobile Wallet:

Payment24 Mobile Wallet can be funded in multiple ways.

Consumers fund their wallets using cash, debit or credit cards at participating merchants and provide their mobile phone numbers as reference number. The payments are automatically allocated to the respective mobile wallets using the reference numbers provided. Payment24 Terminal or Integrated POS:

  1. Select 'Load Funds'
  2. Enter mobile number
  3. Enter amount
  4. Funds loaded successfully

Consumers load funds by paying directly into Payment24's trust account using their mobile number as reference number. Funds are allocated directly to the mobile wallets at set intervals.

Consumers link their credit card to their mobile wallets using the Payment24 mobile app. Using the mobile app, consumers select:

Mobile Wallet

  1. Link Credit Card
  2. Enter credit card number, expiry date and CVV number
  3. Credit card linked successfully

Note: This is a once-off process only. Consumers can link multiple credit cards to their mobile wallets.

Advantages for Retailers & Consumers

  • Lower Transaction Fees: The charges of the mobile wallet fund transfer are less when compared to charges in a traditional fund transfer
  • Convenience: Mobile wallets encourage the convergence of mobile network service providers and financial institutions
  • Secure Spend: Users can go to any Approved Payment24 Merchant to spend funds on their Mobile Wallet.
  • Money Transfer by Wallet: The transfer of funds with a mobile wallet is a simple and secure way to deposit or to receive money via a virtual wallet accessed by consumers using their mobile phones/smartphones. 
  • Money Transfer by SMS: Users can even to people who are not registered by just entering their Mobile Numbers. Please remember registered/non-registered users both cannot cash out the funds at any stage unless specified by the Issuer of the wallets.
  • Integrated Loyalty & Rewards: Retailers can integrate the loyalty & rewards module and offer rewards points & promotions to their loyal customers.
  • Purchase Airtime: Retailers can integrate the offering with our Airtime & Electricity platform and offer airtime purchases directly from within the Mobile Wallets.

Mobile Wallet as a Payment Tool

A mobile wallet is an extremely valuable payment tool and offers benefits, such as:
  • Updating a consumer account and indicating how much reward points he or she gained at the end of purchase
  • Avoiding the merchant’s and consumer’s purchase complexity by adding or redeeming loyalty points at point of sale (POS) instead of cash or credit
  • Providing consumers with purchase data and retail offers based on previous purchase data
  • Issuing a warning message to consumers for fund deficits and overdraws
  • Allowing a consumer possessing one or more credit cards to choose the particular credit card, which provides maximum value in terms of rewards or a favourable rate of interest or redeemable coupons
  • Recommending available accessories in the same store or the nearest retail store based on the location and item purchased
TOP