By Staff Writer
ZAZOO, a division of the JSE and Nasdaq-listed company Net1 UEPS Technologies Inc, has teamed-up a UK and Cyprus-based startup Funifi to enhance their service by adding a secure payment mechanism to the Funifi DO (chore) app using Mobile Virtual Card (MVC) technology.
The firm said in March that it was eyeing speedy global expansion focusing on the UK and other parts of Europe, US, India and other developed and emerging markets. The company has seen ZAZOO’s global footprint expanding into 12 African countries, and it also has a presence in Colombia, India, Spain, South Korea, the Philippines, the UK and the US.
ZAZOO plans to take Net1’s patented technology, such as MVC payment app and soon-to-be launched Biometric Variable PIN, to new markets, using London as a convenient hub from which to coordinate all its global deals.
“Adding VCPayTM to Funifi expands the way in which parents can reward their children for completing tasks or achieving goals,” says Philip Belamant, Managing Director of ZAZOO.
“Parents can set goals for their children and then create fixed-amount virtual payment cards when they can see – through the app – that all tasks have been done. Once the card is created, parents can offer top-up incentives through the Funifi DO app to motivate their children to complete household tasks on a regular basis.”
Belamant says incorporating ZAZOO’s virtual card payment technology means that parents are able to reward children for achieving their Funifi goals by topping up their new cards with credit to use in the Funifi online store, local app stores or parent-approved online outlets. “Parents can be comfortable in the knowledge that they are empowering their children to make financial decisions within a completely secure and managed environment.”
A cardholder generates a MVC offline and no one else can access it until the transaction is complete. The offline capability prevents card skimmers from accessing card details through conventional backend systems.
“Children love earning rewards in their favourite digital or online games, and Funifi makes their chores just as much fun by letting them log their tasks at home via a mobile phone or tablet,” says Andrew Michael, CEO of Funifi.
“In return, they receive and collect points –
much like they would in their digital games. The advantage of partnering with VCPayTM is that parents can now control their children’s spend at specific merchants, like iTunes and Xbox Live, and all money spent can be tracked.”
Recently, ZAZOO partnered with UBER, the innovative smartphone technology that connects riders with drivers, in SA.
Zazoo’s VCpayTM mobile application enables people who do not own credit cards to create virtual MasterCards that can be used to pay for the UBER service.