Shoprite Launches New Banking Service ‘Shoprite Money’

Shoprite has announced the launch of Shoprite Money – a new mobile transactional banking service which is available to everyone in South Africa, even those without existing bank accounts.

Using their Shoprite Money mobile wallet, this new service will enable customers to deposit, withdraw or send money as well as buy groceries at any of the till points in all Shoprite, Checkers, Checkers Hyper or Usave stores across South Africa. Customers can also send money, buy electricity or airtime from the comfort of their own homes, provided they have funds in their Shoprite Money account. All transactions are free with the exception of a R9.95 fee that only applies to cash withdrawals.

Shoprite Money is available to users aged 18 years and older with a valid South African Identity Document, irrespective of their mobile network, device or connectivity.

Users can register for an account free-of-charge by dialing *134*3534# or by visiting the Money Market counter in any Shoprite, Checkers, Checkers Hyper or Usave store.

“Basic transactional banking services in South Africa are expensive and in many cases still not accessible to a large number of South Africans. We believe Shoprite Money will have a marked impact on economic activity in South Africa,” said Joseph Bronn, Chief Business Officer at the Shoprite Group

Shoprite Money is set to roll out in multiple countries in Africa over the next 12 to 18 months, which will hold additional benefits for customers including seamless and cost effective cross-border remittance.

The Shoprite Group has partnered with global fintech company Celbux, Google and Standard Bank to launch this new service.