Far too many South Africans are unbanked, or under-banked, and hampered from managing their money personally and professionally as a result Xolisa Vuza and Kagisho Dichabe decided to do something about it, and built the mojaPay app, which can be used in formal and informal markets.
“The creation of the platform was inspired by the reality of how deep financial exclusion is in South Africa and the rest of the continent,” say Vuza and Dichabe.
“The secondary reason was the need to provide convenience to the marginalised people in the townships and rural areas of our continent. Last but not least, we want to also find a way of creating opportunities for the communities, especially our women and the youth, given the realities we have around unemployment.”
The app, they say, allows consumers to make payments using their mobile device. They can pay everything from DStv and fines, to insurance, airtime and transport to mention a few. It reduces risk for merchants, individuals and suppliers who handle physical cash and also allows one to track all monthly payments and expenditure.
“The mojaPay app is not only a new solution that impacts everyone within the buying and selling cycle in the South African Economy it also exposes consumers to a new way of transacting,” they say.
At the moment, mojaPay makes its money from transaction fees and commission earned from the sale of the various products available on the platform.
Security, of course, is a major issue. mojaPay is bank-grade secure and runs on the same infrastructure that Fortune 500 companies run on.
“Our platform is hosted and run on the cloud infrastructure provided by Amazon Web Services (AWS). Money received is stored in various bank accounts and only tracked virtually through the mojaWallet. We also have a transparent transaction history where we account for every cent of the money that the client has deposited into their mojaWallet,” the pair explain.
The app also provides an opportunity for ‘agents’ to earn money. “We share the commission made on transactions with our agents based on agent agreement,” say Dichabe and Vuza. “The more services mojaPay agent sells, the more commission they earn, and all of this is visible in real time on the app for the agents to see as they transact. There are no surprises when month-end comes.”
mojaPay is available for all devices that run on Apple iOS and Android. We are soon going to also have it available on USSD, WhatsApp and Huawei AppStore.
Best of all, considering the still-high costs of data, while mojaPay is an online system, and needs a network connection to function, it has “been built to consume very little data and we haven’t had data concerns from customers as a result. We are, however, in discussions to see when and how we can explore data free options. Watch this space!”
For more, social media handles are:
Facebook – //www.facebook.com/mojaPaysa @mojaPaysa
Twitter – //twitter.com/moja_za @moja_za
Instagram – //www.instagram.com/mojapaysa/ @mojapaysa
Linkedin – //www.linkedin.com/company/mojapay @mojapay
Website: //mojapay.app
