HEARD on the street

CityPress - - Business - COMPILED BY NEESA MOOD­LEY

SEND MONEY TO ZIM­BABWE AT NO COST

In­ter­na­tional money trans­fer provider Hello Paisa, which is part of the Hello Group, has just kicked off a three­month win­ter pro­mo­tion of­fer­ing users the abil­ity to send money from South Africa to Zim­babwe for free.

Hello Paisa sur­vey data show that the typ­i­cal Zim­bab­wean cus­tomer earns less than R3 000 a month and tends to send more money home over the win­ter months, when their chil­dren and par­ents need warm cloth­ing, blan­kets and face higher elec­tric­ity costs due to the in­creased use of heaters.

CEO of the Hello Group, Nadir Khamissa, says that Hello Paisa ini­tially launched with a 5% fee for trans­ac­tions from South Africa to Zim­babwe, and that was al­ready favourable com­pared with the mar­ket rate of 10%.

“World Bank re­search shows that Africa has some of the most ex­pen­sive re­mit­tance cor­ri­dors in the world. It just feels wrong that the poor­est peo­ple in the world should pay the high­est fees to feed and clothe their fam­i­lies. In re­sponse to this chal­lenge, we launched Hello Paisa in March last year,” he says.

The three-month, zero-trans­ac­tion fee cam­paign runs from June 11 un­til Septem­ber 12. How to use Hello Paisa:

To register, visit any Hello Store call cen­tre on 0861 888 880 or dial *130*43556# from you cell­phone and ask to be signed up.

You need a valid iden­tity doc­u­ment, pass­port or asy­lum per­mit and proof of res­i­dence.

The Hello Paisa App is also avail­able for down­load from the Google Play Store.

Once you are reg­is­tered, all you need to do is cre­ate a re­cip­i­ent, cre­ate an or­der and then set­tle your or­der at re­tail­ers in­clud­ing Check­ers, Pick n Pay, Shoprite and Spar, or at any FNB branch or Hello Store.

Once the payment has been made, your re­cip­i­ent will be able to col­lect the cash eas­ily, safely and in­stantly from any of the Hello Group’s trusted pay-out part­ners.

DIG­I­TAL BANK­ING ON THE RISE

The use of dig­i­tal bank­ing chan­nels is in­creas­ing among the mid­dle class in South Africa, along with a need for per­son­alised bank­ing so­lu­tions in­stead of a one-size-fits-all ap­proach.

Th­ese are some of the key find­ings from re­search con­ducted by FNB among its premier clients, who earn be­tween R350 000 and R750 000 a year, be­fore tax.

Lynette Klop­pers, CEO of FNB premier bank­ing, says: “Con­sumers now re­quire ser­vices that are avail­able around the clock and can be ac­cessed from any­where in the world. About 78% of those sur­veyed said they pre­ferred con­duct­ing bank­ing via on­line plat­forms be­cause it’s con­ve­nient and easy to ac­cess.”

Fam­ily is very im­por­tant to this group; 76% of them are mar­ried and 52% have chil­dren who are fi­nan­cially de­pen­dent on them. Re­tire­ment plan­ning also takes cen­tre stage – a ma­jor­ity of the re­spon­dents said they would like to re­tire com­fort­ably.

The find­ings of the sur­vey point to spe­cific de­vel­op­ing trends, such as the need for a bank that takes the fu­ture needs of the client into con­sid­er­a­tion.

Be­yond fu­ture plans, there are no­table life­style pref­er­ences that are im­por­tant for this mar­ket, which in­clude local fam­ily hol­i­days, over­seas trips and din­ing out.

De­spite hav­ing a propen­sity to spend on leisure, this group is equally aware of the need to curb over-in­debt­ed­ness by sav­ing.

DIS­COV­ERY WINS TWO AWARDS

Dis­cov­ery walked away the win­ner in two cat­e­gories at the 2016 Fi­nan­cial In­ter­me­di­aries As­so­ci­a­tion of South­ern Africa Awards ear­lier this month.

Dis­cov­ery Life, for the sev­enth time over­all and for the fourth year in a row, took top hon­ours as the Long-Term In­sur­ance Prod­uct Sup­plier of the Year – Risk, while Dis­cov­ery Health was se­lected the Health­care Prod­uct Sup­plier of the Year for the eighth time since th­ese awards be­gan.

Hyl­ton Kall­ner, CEO of Dis­cov­ery Life, says: “It’s an ab­so­lute hon­our for Dis­cov­ery to re­ceive this recog­ni­tion from the in­ter­me­di­ary com­mu­nity in two cat­e­gories this year.

“Th­ese awards are an ac­knowl­edge­ment of our con­tin­ual ef­fort to de­liver high-qual­ity, in­no­va­tive prod­ucts that peo­ple need, and as­sis­tance and sup­port for all in­ter­me­di­aries we in­ter­act with.”

Typ­i­cal mea­sures in the assess­ment by the as­so­ci­a­tion in­clude in­no­va­tion, com­pet­i­tive­ness, and knowl­edge and ser­vice.

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