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Shoprite launched bank accounts for customers

Shoprite has launched money market accounts, which will allow users to send money and receive, and also buy airtime, data and pay bills.

The money market accounts will start to operate from next year 2021, with the accounts not allowing debit orders. The new accounts will be favorable for those who get welfare grants.

Shoprite also said that government and companies can also pay salaries into these accounts, and the accounts do not have monthly charges and transaction fees.

Users don't need to be Fica'ed to open the account, and the company also said that the accounts can be used in shoprite, checkers and Usave stores for any transaction.

The company is planning to pay their employees using those accounts, with them encouraging other companies to pay employees using these accounts.

General manager of financial services at Shoprite, Jean Olivier, said that they don't want to compete with the banks . He also said that the supermarket giant is planning to partner with a local bank in order to meet Financial Intelligence Center Act requirements.

Olivier announced the future plans of the accounts including online shopping beyond their group of stores, with the likes of Computicket and OK furniture store included.

Content created and supplied by: MORGAN1 (via Opera News )

Computicket Fica'ed Jean Olivier OK Olivier

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