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TWO NEW INTERNATIONAL E-COMMERCE SYSTEMS INTRODUCED

South Africa comes in line with international e-commerce practices with two new payment systems:

  • PayPal, the online global system serving more than 81 million active accounts worldwide and used by more than 200 million people has been brought to South Africa by First National Bank.  SA is the 190th country to use PayPal which will allow customers to top up and withdraw funds to their FNB accounts from their PayPal accounts. FNB customers can simply open a PayPal account and link it to a ‘qualified' FNB account and receive payment in 21 different currencies, after which FNB will convert the currency into rands as soon as the money is transferred into their accounts. With a 1.5% fee on all transactions, the system is still not yet integrated to the cellphone banking and each transaction will have to be reported to the South African Reserve Bank. 
  • Ukash, reportedly the world's largest prepaid-cash issuing estate and available at more than 420 000 physical issuing points in 30 countries, enabling consumers around the world to shop, pay and play online safely using cash, has signed a deal with Shoprite to enable South African consumers to purchase its vouchers from the group's outlets. The vouchers are in any value between the minimum R50 and maximum R1500, which can be split and combined for a more convenient form of online purchasing.  Ukash is a secure payment method developed to protect personal identity and financial information when making online transactions; eliminating the threat of credit and debit card fraud for consumers and repudiations and charge-backs for retailers.
 
Links

SOCCER WORLD CUP
RE-BRANDS SOUTH AFRICA

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TWO NEW INTERNATIONAL
E-COMMERCE SYSTEMS INTRODUCED
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RETAIL PROPERTY INCHING OUT OF RECESSION ..................................................................
FASA TO TIGHTEN UP ITS CODE OF ETHICS RELATING TO THE REFUND OF DEPOSITS
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SOCIAL MEDIA WORKSHOPS
FOR THE FRANCHISE INDUSTRY WORKSHOPS

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