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Johannesburg - Bidvest Bank has been selected as the provider of the banking platform for Vodacom's revamped M-Pesa mobile phone-driven money transfer service.
The partnership with Bidvest Bank brings added peace of mind to m-pesa users as the bank's credentials in the foreign exchange and money transfer market go back more than 150 years.
The bank handles billions in international payments for major importers and exporters.
"Vodacom [JSE:VOD] sets high performance standards and we regard our selection as an endorsement of the system reliability at Bidvest Bank and the professionalism of our people," said Japie van Niekerk, managing director of Bidvest Bank.
"We form relationships with leaders in South Africa and across international markets. Vodacom is an African mobile communications leader with huge credibility. We're delighted to work in partnership with a top performer of such stature."
The partnership is designed to add value to the m-pesa offering.
"While distribution and registration are key enabling factors, the heart of the revised M-Pesa is the functionality," said Vodacom Group CEO Shameel Joosub.
"We're excited to be working with a new partner, Bidvest Bank whose skills and expertise allowed us to add entirely new functionality to M-Pesa that addresses the specific needs of the South African market."
M-Pesa has the potential to transform how South Africans manage money, according to Joosub.
"We're looking forward to the day that South Africa is held up as yet another example of where m-pesa has changed the face of banking, unlocking the power of mobile technology to make people’s lives easier.”
