Nedbank’s New Money Service Aims To Let Customers Pay Through WhatsApp
Nedbank’s New Money Service Aims To Let Customers Pay Through WhatsApp. Nedbank, in collaboration with Mastercard and Ukheshe, has launched its Money Message service – a payment platform that lets small and micro-businesses receive secure in-chat payments from their customers via WhatsApp.
Nedbank said that anyone with a valid South African identity document and South African bank account can access Money Message. Merchants will need to first register for the service, and afterwards they can immediately initiate a payment request. The process should take only a few minutes, the bank said.
According to Business Tech, the business owner sends a request-to-pay message to the customer and for first-time users, a notification is sent via SMS prompting them to register for the service. The customer enters their name, surname and registers their card details to make the payment securely. Customers can make secure, card-less payments via their cell phone numbers or QR codes.
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group. Nedbank’s primary market is South Africa.
Nedbank told Business Tech that, the service differentiates itself from similar offerings by other banking and financial groups by being specifically developed to process payments for merchants and small businesses. A beta version of Money Message has been available to a small selection of micro-merchants for just over a month and will gradually reach the broader market during the rest of the year.
To register, Nedbank said that users should save Money Message’s number, +27 (0)87 240 6272, as a contact on their phone and start a chat in WhatsApp by sending the word ‘Hi’.
Nedbank also operates in six other countries in the Southern African Development Community (SADC), through subsidiaries and banks in Eswatini, Lesotho, Malawi, Mozambique, Namibia and Zimbabwe, as well as offices in Angola and Kenya. Outside Africa, Nedbank have offices to provide international financial services for Africa-based clients in Guernsey, Isle of Man, Jersey, the United Kingdom and the United Arab Emirates.
