Prepaid cards are empowering SA’s spaza shop customers
The number of payments being made by cards is on the rise in South Africa. Between 2009-2013 the number of cards in circulation grew by 17.9%, driven by a growing demand for open-loop prepaid cards – that’s according to data from research consultants Timetric. Open-loop prepaid cards are associated with a payment network (Visa, for example) as opposed to closed-loop cards that can only be used at a specific merchant or store. DrawCard pioneered prepaid cards in South Africa in 2012 with its Reload Visa card, opening up a world of financial possibilities to thousands of individuals without a bank account. Store owners are now also financially enabling South Africans by offering prepaid cards in their shops.
Using prepaid cards is just like using any other credit or debit card, but getting started is much quicker
Your card is ready to use as soon as you’ve bought and activated it using your mobile phone number and ID number that are linked to the card. Money is loaded onto your card by transfering between mobile money accounts, EFT, cash deposit at an ABSA or Bidvest bank branch or by depositing cash at the till of any of our participating retailers. After 24 hours, the mobile banking feature is automatically activated.
Prepaid cards are versatile and come with a mobile banking function
The beauty of reloadable prepaid cards, such as DrawCard’s Reload, is that they can be used anywhere a VISA credit or debit card can be used: both in-store and at ATMs. You can use the cards to buy prepaid electricity and airtime from your mobile phone, as well as transfer money between other Reload mobile money accounts. Simply visit our Reload webpage to activate your online banking account.
With a Reload card, you enjoy financial benefits that aren’t offered by standard credit or debit card
Prepaid cards can be used in lieu of credit or debit cards, as gift cards, to pay or receive wages or as a means of budgeting. Our Reload cards are cheap to transact with, do not require credit checks and can be used as soon as you’ve bought one. What’s more, on balances over R500, you can earn 1% interest and if you swipe in-store at Woolworths, you get 2.5% instant cash back.
With prepaid cards you can rest assured that you’re using secure payment solution
Prepaid cards have precluded the need to carry large quantities of cash around. Casual workers who are paid cash-in-hand on a daily or weekly basis no longer need to worry about traveling back home with their earnings or to the nearest bank branch to deposit their cash. With a prepaid card they’re given peace of mind and also save on the cash deposit fees they would incur by using a bank teller. As Reload cards are linked to VISA, they enjoy the same level of payment security offered by all other VISA cards, making them as secure as any other card. In addition, you can change your PIN and even cancel a stolen prepaid card using your mobile phone.
Stocking prepaid cards affords you benefits as a store-owner
Stocking Reload prepaid cards in your store doesn’t only benefit the customers who choose to buy and use it. By stocking Reload cards you’ll be extending your product offering and attract more footfall – creating an opportunity to boost sales. You’ll improve your image and have a competitive edge on the shops down the road too. What’s more, you’ll be giving your customers access to a card that allows them greater financial freedom.
Your customers no longer need a bank account to own a Visa card. Download our DrawCard brochure if you are thinking about empowering your customers and offering them an innovative way to make payments.