• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Pick n Pay in new cash transfer option

Jan 18 2012 12:31
I-Net Bridge

Company Data

CAPITEC BANK HOLDINGS LIMITED [JSE:CPI]

Last traded 573
Change -10
% Change -2
Cumulative volume 90293
Market cap 0

Last Updated: 25-05-2016 at 02:19. Prices are delayed by 15 minutes. Source: McGregor BFA

PICK N PAY STORES LIMITED [JSE:PIK]

Last traded 71
Change -2
% Change -3
Cumulative volume 778600
Market cap 0

Last Updated: 25-05-2016 at 02:18. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Pick n Pay backs down on job cuts

Pick n Pay warns of profit slump

Pick n Pay earnings fall short

Pick n Pay concludes Franklins sale

Retail competition to increase imports

PnP ups stake in Zimbabwe chain

 

Johannesburg - Pick n Pay Stores [JSE:PIK] on Wednesday said it has entered into a partnership with BankservAfrica that will allow customers to transfer money without the need for a bank account.

The company said the transfer was immediate, as a person deposits cash at any Pick n Pay or Boxer Superstore and the cash is immediately available for collection by the recipient from any Pick n Pay or Boxer outlet.

A system-generated PIN ensures the safety of the transfer, with recipients having to show both the PIN and the system-generated reference number - along with their South African identification - to collect the cash from a Pick n Pay or Boxer Superstore in their area.

Martin Grunewald, CEO for the BankservAfrica BPO division, said the money transfer system has shown a 20% month-on-month growth since inception in October.

"The 2011 festive season was the first real indicator of the value the money transfer system can bring, not only to the man in the street but to retailers as well," he said.

The money transfer system takes into account all FICA's legal requirements for money transfers.

The cheapest money transfer option on the South African market, the service is backed by Capitec Bank Holdings [JSE:CPI], a registered financial services provider.

 
pick n pay stores

 
 
 

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
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...