Africa’s largest retail chain, Shoprite, has launched its new app, “Money Market Account,” that allows customers to do multiple transactions.
Money Market Account is a mobile-friendly app that gives customers exciting ways to save, send, or spend their money.
It reveals the company’s initiative in building an advanced mobile payment experience for customers.
Money Market Account is now available on iOS and Android devices.
Shoprite stated that customers could use the app to access many services in its 2,943 outlets across 15 countries.
Money Market Account services include paying utility bills, buying airtime, sending and receiving money among others.
Shoprite added that the free transactional-account has the following main benefits:
- No monthly fees, no load fees, no transaction fees.
- No debit orders-customers are in full control of their money.
- There are no forms, no fees, no FICA- anyone can open an account.
According to Shoprite, customers will soon be able to use their money market account on other websites.
Consequently, this will make e-commerce more accessible to everyone.
About Money Market
General Manager of Financial Services, Shoprite Group, Jean Oliver, said Money Market is a brand that customers have come to trust over the years.
“We are extending its services to help our customers transact securely and to save, as we are acutely aware of the importance of saving at this time”.
Speaking further, Oliver said businesses of any size could use the Money Market Account to process bulk payments.
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The only requirement is a smartphone to access their funds.
Shoprite’s Money Market Account app replaced the basic Shoprite Money product launched in May 2018.
The app will grow to have most of the transactional capabilities of a full banking account.
Once you get the app, you won’t need to stand in queues to withdraw cash from an ATM.
Customers can use their Money Market Account app to pay for transactions in any Shoprite store.
How to register
To register, you can download the new Shoprite app from the App Store or Google Play Store.
Alternatively, you can dial *120*3534# and enter your name, surname, ID, or passport number and choose a five-digit pin.
The company also added that loading cash into the account will now be free.
All customers need is go to a Shoprite, Checkers, or Usave store, then select “Top up Account” on their phone.
Once completed, you’ll be required to enter an eight-digit token displayed on the phone into the card machine.
Your balance will then be immediately updated.
Shoprite stated that more news would follow this update.
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