A new app called Spazapp is to bring secure, seamless and convenient mobile payments to thousands of informal traders and convenience stores, better known as spaza shops, in our communities.
Mastercard says the informal retail sector boasts an impressive R46 billion in annual sales a year with more than nine million households regularly shopping at these stores.
Through this partnership, Mastercard has integrated its digital global payment service Masterpass into Spazapp – a free, money-saving android application that connects a community of informal traders directly to big FMCG brands including Unilever and Tiger Brands.
Mark Elliott, division president for Mastercard says by digitizing the entire value chain, the 4,500 micro-businesses already using Spazapp’s buying app can generate significant savings on stock procurement. Traders no longer need to close their stores to buy stock.
Tim Strang, CEO of Spazapp says their goal is to uplift last mile traders and disadvantaged communities by simplifying the buying process for small, informal traders through competitive pricing and collective bargaining power
For spaza owners, Masterpass provides a more affordable alternative to traditional Point of Sale devices, allowing them to offer a convenient digital payment option to their customers – the majority of whom are banked and are ready to use mobile payments.
Paul Maluleke is one of the entrepreneurs set to benefit from the new app, Paul lives in Alexandra township.