Question to Payments Group

Hi Ramkumar,

Here is the question I had for the payments team.

“Are you considering using Digital Vouchers as a mechanism for cash disbursements? This is where a digital token is issued via SMS or email and this token can be remitted at a Bank or Retail outlet (e.g. Super Market), this has occurred in South Africa for distribution of Covid funds.”

https://www.gov.za/covid-19/individuals-and-households/social-grants-coronavirus-covid-19

https://www.shopriteholdings.co.za/articles/Newsroom/2020/send-a-virtual-shoprite-or-checkers-grocery-voucher-straight-to-.html

I thought I would also include an article from the World Bank document published on the South African treasury website. South Africa Social Security Agency (SASSA) that actually disburse Grants via a MasterCard (which has also been used in Mexico), backed by Grinrod Bank in SA. 30% of South Africa’s adult population receive Social Grants and between 55% and 70% of receipts use this cards. South Africa has the largest social grants distribution in the World disbursing 18 million payments monthly to the value of around R16 billion (USD 1.1 billion approximately) every month.

http://www.treasury.gov.za/publications/other/Achieving%20Effective%20Financial%20Inclusion%20in%20South%20Africa.pdf

https://businesstech.co.za/news/finance/493437/south-africa-will-spend-more-than-r195-billion-in-the-next-year-paying-18-million-grants-a-month/

Brgds,

Trevor.