• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

Rumours of 1st mobile-only bank for SA

Nov 16 2012 13:01

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 115
Change 1
% Change 1
Cumulative volume 170703
Market cap 0

Last Updated: 08-12-2016 at 09:18. Prices are delayed by 15 minutes. Source: McGregor BFA

PICK N PAY STORES LIMITED [JSE:PIK]

Last traded 64
Change 1
% Change 1
Cumulative volume 7301
Market cap 0

Last Updated: 08-12-2016 at 09:16. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

FNB brings eWallet to Mxit users

FNB launches mobile banking app

 
Cape Town - Rumours are doing the rounds that South Africa may be getting its first mobile-only bank, with big names apparently behind the business.

MTN [JSE:MTN], Pick n Pay [JSE:PIK] and Boxer Superstores have been mentioned.

BusinessTech reported on Friday that the mobile bank is believed to be called Tyme (Tyme-Capital). Apparently details of Tyme-Capital were listed on a website under the same name before being abruptly removed on Thursday.

BusinessTech said it took screenshots of the website before it was removed. When Fin24 visited the website address, there was only a notice saying "Website Coming Soon".

Arrie Rossouw, owner of ARK Rossouw Media Consultancy and previously editorial director of MIH Internet Africa, tweeted the news on Thursday. Rossouw said that his relationship in the venture involved PIN-less airtime.

tyme capital

The now-defunct website said Tyme is a distribution channel of the South African Bank of Athens.

The screenshots taken by BusinessTech show a fee structure and list these features and benefits:
  • Send money to any one with a South African cellphone number;
  • Recipients will be able to access the money immediately;
  • Buy prepaid airtime and electricity anytime and anywhere;
  • Deposit or withdraw cash at any Pick n Pay or Boxer store;
  • Pay for goods at any Pick n Pay or Boxer store;
  • Get a mini-statement;
  • Receive SMS notifications for all transactions;
  • Call the Customer Care Centre on 083 123 0145;
  • No monthly fees and no minimum deposit.
"MTN would not like to comment on speculation," the mobile operator told BusinessTech.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

mtn  |  mobile banking

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
8 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...