In the 09 micro-predictions for South Africa in ’09 post #2 was “MXit shall offer peer-to-peer micro-payments (Transfer Moola between contacts), become more ’social’ & adopt QQ monetization techniques.”
Imod churned out a series of FNB posts that reeked of advertorial type, paid-for-posts, they weren’t though. One of them mentioned being able to purchase MXit moola from FNB cell phone banking.
You are now allowed to purchase MXit Moola Directly from FNB cell phone banking via USSD and the mobile web interface. The cool thing is you are allowed to purchase Moola for any registered MXit user, not just yourself in R5, R7, R10. R15 or any other amount you specify. To me, it sounds like peer-to-peer micro-payemnts. Now if only yu could convert the Moola back to real currency.
The PDF embedded above shows you step by step instructions on using FNB mobile phone banking via the web or USSD to purchase MXit Moola directly from your bank account. The ability to purchase MXit Moola via FNB cell phone banking compliments MXit’s current Moola purchases via SMS and does not replace it.
Have you read these yet?
10 000: the number of new MXit users per day
MXit Moola & Pin Number for International Users (Outside South Africa)
Is Mxit Ready for Mobile Commerce?
09 Micro-Predictions for South Africa in 09
MXit Mobile Banking with Standard Bank (told you so)
You can see this as P2P micro-payments, although it’s confined to the walled garden that is MXit, so the Moola is only useful there. Converting to and from real currency is where it would really get interesting! Ukash offers vouchers that can be bought cash and used online (WAP/web), while mobile payments services like Pocit and SWAP allow P2P transfers between mobile phone users – although not without bank accounts. Watch this space, 2009 is going to be an interesting year for mobile banking and payments…
I think this is a great step forward for mobile banking, however I argue that the sms method of purchasing Moola is far simpler and makes more sense considering you’re buying it with airtime as apposed to cash.
I long for the day we are able to make common purchases using our phones airtime balance as a “mobile bank account”…
Look at that dodgy “cool” backlink, what’s going on there?
And backlinks on mine, tisk tisk