Sign in
Download Opera News App

News Society

 

Crime Justice

 

Theft robbery

Banking in South Africa is about to reach new frontiers. Soon you will pay a person via WhatsApp.

Calling yourself Born Before Technology or BBT for short will no longer work for most of our older generation. Things are changing and you do not want to be left behind.

Banking in South Africa is about to reach new frontiers. South African Reserve Bank will soon introduce a new payment system called Rapid Payment Programme or RPP for short.

In a nutshell RPP will allow users to pay people without requiring a bank account. You can pay a person using their cell phone number or anything that identifies them.

The other feature of RPP is that you will be able to use instant messaging applications like WhatsApp to effect payment. The payee will receive payment immediately, and will be able use the money.

All these changes good as they may be must be handled with care because consumers will now be more exposed to cyber criminals or general theft. Should a person get hold of your cell phone, they will be able to transact easily.

Source

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

Born Before Technology RPP Rapid South Africa South African Reserve Bank

COMMENTS

Load app to read more comments