The Vodacom Super App, VodaPay, continues to attract an increasing number of users, with 7.6 million downloads reported in the quarter ending September 2023, compared to 6.7 million in the previous quarter.
During this timeframe, the super app garnered 4.1 million registered users.
Serving as a comprehensive digital platform for shopping, lifestyle, and financial services, VodaPay caters to both consumers and businesses.
In parallel, Vodacom Financial Services experienced significant growth, with revenue reaching R6.2 billion, marking a 39.9% increase in the quarter ending September 2023.
Notably, the normalized M-Pesa revenue exhibited a growth of 13.2% over the period and 12.9% in the second quarter.
“Our financial services strategy is supported by a dual-sided ecosystem across consumers and merchants, bringing these segments together through exceptional and personalised experiences relating to entertainment, e-commerce, payments, savings, investments, lending and insurance services,” Vodacom informed investors.
“As key drivers of this strategy, our super-apps – VodaPay, Vodafone Cash and M-Pesa – integrate our own products and services with the best offerings from our partners.
“Alongside our apps, we continue to roll out our agent network to support core mobile financial services products, such as cash-in and cash-out. Our agent network across the International business was up 18.0% to 321 000.
“Alongside the super-app roll-out, our active merchant base continued to scale meaningfully in South Africa and across our International markets. Our merchant base in South Africa was extended to over 10 000 and across International was up three-fold to 292 000. This growth helps expand our addressable commission pool beyond peer-to-peer payments and withdrawals into both online and offline commerce.”