South Africa innovative mobile payment service SWAP Wallet

In South Africa SWAP Mobile introduced its new free service SWAP Wallet that allows every local cell phone user to access a safe, reliable and easy-to-use payment system.

By dialing a special number mobile phone user can activate the Wallet for free. The service allows customers to make money transfers with other users. Besides, they can make electronic transfers to an ABSA account and fund their Wallets via debit accounts and credit cards.

The company designed special SWAP Codes integrated into the Wallets. The codes are issued to businesses and when a customer dials the code from a cell phone to make a payment, funds are transferred directly to the business’s bank account.

In addition the company is conducting negotiations with big corporates that issue store debit, credit and loyalty cards to integrate the SWAP Wallet with their mobile strategies. As SWAP Sales and Marketing Manager Josh Loock notes such an integration will provide each corporate with an additional payment channel.

One more option available with the SWAP Wallet is SWAP’s Instant Airtime product. It allows prepaid users to purchase airtime for any network, in real time and directly from their cellphones.