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Mukuru, one of the Africa’s largest remittance companies and a leading next-generation financial services platform, announced that its Mukuru card has been activated for online purchases in South Africa, enabling cardholders to card to participate in the e-commerce revolution, even if they do not hold traditional bank accounts.
Mukuru CEO Andy Jury said one of fintech’s promises is financial inclusion. So it made sense to make the Mukuru card available for online shopping.
“The pandemic has seen a big shift towards online payments at various retailers and service providers. As part of our belief in empowering Africans to take control of their finances digitally, giving them access to a wide range of retailers and service providers as diverse as Takealot, Mr Price, Dis-Chem, Uber and Afrihost, among other things, opens more doors, says the jury.
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In May 2021, a World Wide Worx report found online retailing in South Africa had grown 66% in 2020, valuing the industry at over R30 billion. Mukuru customers now have access to this changing retail environment simply by adding their Mukuru card just as one would add a debit card for online payments. “People must have the power to take charge of their own destiny,†said the jury.
“It’s not idealistic, but rather a solid philosophy, and certainly from Mukuru’s point of view, it influences business decisions in how we build a client base that has access to a wider range of financial services using our tools as links in a larger value chain … Enabling our customers to participate in online shopping is another way for us to achieve this goal, â€he says.
The jury adds that fintech is vital for financial inclusion, but the end goal must go beyond the technology itself. “The long-term goal should be to provide an ecosystem that allows users to gradually move towards financial inclusion. It is progressive, and each step must be accompanied by consumer education and upgrading, as interventions become more and more financially sophisticated. “
The global pandemic has changed shopping behaviors and is largely attributed to the surge in online retailing in South Africa. With the fourth wave in South Africa likely to gain momentum in December and January thanks to the high-profile variant of Omicron, that shift to digital purchases is expected to accelerate further.
“There is a risk that as the world speeds through the online space, large segments of the population will be left behind and the digital divide will widen. It is for this reason that Mukuru has made it a top priority to provide access to the e-commerce revolution to our customers, â€said the jury.
About Mukuru
Mukuru is a leading next-generation financial services platform that provides affordable and reliable financial services to emerging consumers in Africa.
With over 50 million transactions to date, our core business has been designed to provide international money transfers and from that foundation we have developed a set of services to meet the broader financial needs of our customers. clients.
We are a company that puts the customer at the center of everything we do, and for this reason we serve customers through physical and digital channels, by all means of payment (cash, card, wallet) as well as a range of engagement platforms including WhatsApp, USSD, contact center, app, website, agents and branch and booth network.
Mukuru was listed as one of the Top 150 Cross-Border Companies in the World in the 2020 FXC Intelligence Holders vs Challengers in Cross-Border Payments Rankings.
Mukuru won three awards in 2021:
- In July, Mukuru won South Africa’s Most Innovative Financial Services Provider 2021 at the 2021 World Economic Magazine Award Winners as well as the 2021 International Business Magazine Award.
- In April 2021, Mukuru won the award for Most Innovative Online Money Transfer App – South Africa 2021 at the Global Brand Awards 2021.
More information is available at www.mukuru.com/the-mukuru-group.
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