PEOPLE don’t want to be charged more when they withdraw their money.
And this is what Shoprite is willing to do with its Money Market account.
Arthur Khoza from Shoprite Group of Companies, whose Money Market App won the retail giant R1 million at this year’s MTN Business App of the Year Awards, said people will be charged R5 when they withdraw money from tills.
And the most important thing is that customers’ money won’t be taxed while in their accounts.
More than two million people use Money Market services to send money to anyone in Mzansi as well as on the African continent where there are Shoprite stores.
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“We saw the opportunity to start our own bank, which is successful,” he said.
Arthur said many people complain about high withdrawal charges. The retailer wants to change that and give people a very affordable banking service.
He said transferring money to anyone within Mzansi is free using the app. Over 150 people use it and the number is expected to grow once people know more about the bank.
The 11th annual MTN Business App of the Year Awards took place in Parktown on 13 October.
