PayPulse, Standard Bank’s cashless transaction app, has achieved substantial popularity in the Namibian market since its inception in 2018, completing slightly under a million transactions worth N$ 442 million ($29.7 million) from 1 January 2021 to 31 December 2021.
The PayPulse app was built by Standard Bank, a South African bank and financial services company, and allows anybody, regardless of bank, to create a virtual wallet from which to pay for bills and services and send and receive money.
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According to Rejoice Itembu, Standard Bank’s Head of Client Solutions, the app is unique that it is the first of its type in that it allows customers to join up to three different credit or debit cards from various commercial banks. , Itembu claims that the app is necessary for Namibians, who are primarily multi-banked, and that this has contributed to its success.
What Customers Can Do With PayPulse
Throughout 2021, Standard Bank improved the PayPulse App and included many new features such as Bill Splitting, Money Request, self QR code production, and a Pay-by-Link option, which it claims is excellent for small enterprises. Businesses can use PayPulse’s Pay-by-Link feature to send a link request to their customers, who subsequently pay, and the company receives their money.
Another tool that helps folks who need money from friends or relatives right away is the Money Request option. Customers can ask for money from PayPulse users the same way they would make a ‘CallMe Request’ on their telephone. When the request is received, the PayPulse user can accept or deny it and determine how much to transfer.
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Another feature is the option for consumers to generate their QR codes, which can be used to make payments by multiple users. Customers no longer manually enter their cell phone numbers when using this QR code to transmit money. According to Standard Bank, this payment option is easy and ideal for fast-paced small businesses.
Customers can also use PayPulse to rapidly cash out their money at any WiCode shop, including Woermann Brock, Pick & Pay, Shoprite, Checkers, USave, and top up on electricity, airtime and pay for bills such as DStv/GOtv accounts.
As more consumers embrace digital solutions and technology to conduct everyday activities like banking, Standard Bank remains strongly dedicated to offering digital banking solutions and realising the cashless society.” “We intend to make our services more accessible to more individuals with such solutions,” Itembu stated.