However, South African cellphone payment provider POCit has come up with what's said to be a world-first in mobile payment technology and in thwarting thieves. Dubbed "POCitMoney", this supposedly deceptively simple, safe and convenient hi-tech voucher is a hack-proof nightmare for robbers and bliss for holiday shoppers.
“It's also something every parent of a university student or school pupil should have at the top of their must-have list,” David Reynders, managing director of Johannesburg-based POCit said. The company, which has already received queries from the United States and from cellphone service providers in other parts of Africa about their world-beating technology, came up with the solution as a way of beating crime and to provide maximum convenience to subscribers and consumers.
“It's based on the same concept as gift vouchers,” Reynders said, “except we take it much further. If you buy a gift voucher at a certain store for say R400, you can use it only at that store or its branches. It is known as stored value.
“We have done the same thing with POCit, basically you go to our website, www.pocit.co.za, or call our call centre on 08600 76248 or if already registered on POCit then access it via your cellphone. If you contact us all you need do is say, as an example, ‘I would like R500 of POCitMoney and transfer that money to the cellphone number you want POCitMoney in - either your cellphone, that of your child who is on holiday with friends or as a gift to someone. You don't need their bank account details; you just need their cellphone number.
“The recipient can use it immediately. POCitMoney works like a prepaid debit card or credit card, you might want to pay R100 to a friend you're splitting a bill with at a restaurant and keep the remaining R400 for other payments in POCitMoney. The person you send money to on POCitMoney to can use it to make payments even if he or she doesn't have a bank account.”
There are a few ways to get POCitMoney:
POCitMoney will be launched on 10 December and on the same date POCit becomes accessible to anyone who has any form of bank account, anywhere - they can use the system on any cellphone with a web browser (all those sold since 2004 with colour screens), on any network and does not require a special SIM card.
Reynders said POCitMoney will have a series of on-campus launches during orientation week at universities next year. “It's a natural for parents to send money quickly and safely to students and ensures that students who don't want to hassle about cards or cash can carry money in the one thing they are never without - their cellphone.”
