Wizzit: A Mobile Banking Solution for All

Wizzit is a mobile banking solution that's designed to be accessible to everyone. It's a prepaid mobile banking service that allows users to manage their finances on the go.

Wizzit offers a range of features that make it easy to use, including a user-friendly interface and a wide range of payment options. This makes it a great option for people who want to bank on their own terms.

One of the most convenient aspects of Wizzit is that it can be used to make payments at a variety of merchants, including retailers, restaurants, and service providers. This means that users can pay for goods and services without needing to carry cash or a separate payment card.

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Wizzit has partnered with the Absa Group and the South African Post Office to act as banking agents, allowing customers to deposit funds at any Absa or Post Office branch.

Their customers can pay for purchases and withdraw funds using their debit card at any point of sale (POS) or ATM accepting Maestro cards, making mobile banking convenient and accessible.

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Wizzit has also partnered with Dunns, a fashion retailer focusing on lower to middle-income customer segments, to act as an agent for opening accounts.

In just over 10 years, Wizzit has provided over 7 million people with affordable and easy mobile banking in 13 different countries, reducing the number of 'unbanked' South Africans from 42% in 2004 to 23.5% in 2016.

Wizzit's innovative approach to marketing involves hiring young, low-income individuals, known as WIZZkids, who live in the communities from which they recruit customers, and act as salesmen for the company.

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Cell phone banking is a game-changer for the unbanked population in South Africa, where 16 million people lack access to traditional banking services.

Wizzit, a 1-year-old start-up, has developed a low-cost cell phone debit service that's gained a cult status in poor townships.

With Wizzit, customers can make deposits at a bank or post office, scan their debit card, and immediately credit their account, receiving a text message to prove it.

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Customers can then use commands on their cell phone to check their balance, transfer money, even pay their electricity bill.

There are no minimum balances and per-transfer charges are cheap, making it an attractive option for the unbanked.

35 percent of the 16 million unbanked people in South Africa own their own cell phone, making it a viable platform for financial services.

Access to phones spurs economic growth, while access to financial services unlocks "dead capital", according to economists.

Wizzit's low fees and excellent customer service have won over customers, with many praising the service on NextBillion.

Customers like Paddy and Roger have raved about Wizzit's exceptional and friendly service, and the low costs of paying bills and transferring money.

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Wizzit is a South African cell phone banking firm that offers a low-cost debit service to the unbanked. This service has developed a "cult status" in poor townships.

There are 16 million unbanked people in South Africa, a huge untapped market. Wizzit's low fees and excellent customer service have made it a popular choice among this demographic.

Wizzit's business model makes sense, as 35 percent of the unbanked own their own cell phone. This access to phones spurs economic growth and unlocks "dead capital."

Customers can make deposits at a bank or post office, and their account is credited immediately. They receive a text message to confirm the transaction.

Wizzit aims to expand its services by partnering with existing banks or microfinance institutions in the countries it intends to enter.

This strategy has already been tested with Beehive, a South African MFI, indicating a successful approach to growth.

Wizzit plans to acquire merchants as agents in South Africa's rural areas, where the majority of its potential customers reside.

These merchants will offer customers the ability to deposit money to and withdraw money from their Wizzit bank accounts, as well as to pay for purchases by using their mobile phones.

By doing so, Wizzit aims to provide a convenient and accessible payment infrastructure in areas with limited access to ATMs and POS devices.

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