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.
For more information, visit www.shoprite.co.za.
Article by Timothy Rangongo, Business Insider SA.