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Since launching in 2018 PayPulse, Standard Bank’s cashless transaction app has gained significant traction in the Namibian market, processing just under a million transactions to the value of N$ 442 million ($29.7-million) during the period 1 January 2021 to 31 December 2021.
Standard Bank, a South African bank and financial service group, developed the PayPulse app, which allows anyone, no matter who they may bank with, to create a virtual wallet from which to pay for bills and services and send or withdraw money.
Rejoice Itembu Head of Client Solutions at Standard Bank says that the app is unique in that it is the first of its kind to let users link up to three different credit or debit cards from different commercial banks, which, Itembu says, is important for Namibians who are largely multi-banked and has contributed to the popularity of the app.
Standard Bank made enhancements to the PayPulse App throughout 2021 and added a series of new features including Bill Splitting, Money Request, self QR code creation, and a Pay-by-Link option, which it says is ideal for small businesses. With the app’s Pay-by-Link option, businesses can send a link request from PayPulse to their customer, who then pays, and the business receives their money.
The Money Request option is another feature that benefits those who may need money from friends or family urgently. Customers can request money from PayPulse users in a similar manner as making a ‘CallMe Request’ on a cellphone. Upon receipt of the request, the PayPulse user can choose to accept or decline the request and decide how much they wish to send.
Another feature is the ability for customers to create their own QR codes, which can be used by different users to make payments. This QR code simplifies the money-sending process because customers no longer need to manually enter a mobile number. Standard Bank says this payment option is convenient and great for fast-paced small businesses.
PayPulse also enables customers to instantly cash out their money at the till of any WiCode retailer such as Woermann Brock, Pick & Pay, Shoprite, Checkers, and USave while also enabling them to top up on electricity, airtime, and pay for bills such as DStv/GOtv accounts directly from the PayPulse platform.
“Standard Bank remains firmly committed to providing digital banking solutions and realizing the cashless society as more customers embrace digital solutions and the use of technology to conduct everyday activities like banking. With such solutions, we hope to make our services more accessible to more people,” Itembu said.
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