Africa-Press – Lesotho. Smartel Money has introduced ‘My Wallet,’ a new digital payment service aimed at reducing the risks of spreading Coronavirus () that can spread through the use
of bank notes or contact. Smartel Money Managing Director Nchai Nchai stated that Smartel Money is a registered money issuing company that was reintroduced to aid businesses and the public alike
towards a cashless society during this period of COVID-19. He further highlighted that the government of Lesotho has encouraged the use of digital payments services as a means of reducing the risk of spreading the virus.
Nchai noted that as the money issuer, they offer complete business platforms that include business systems and full personal systems on mobile money services.
“The strategy here is to maximize financial inclusion while containing the virus, which
can spread through the use of banknotes or physical contact,” he said, furthering that their services accommodate every person who is exposed to technology and those who are not.
“My Wallet is able to assist even small businesses such as street vendors by allowing provision of mobile money services to their customers,” he remarked.
Talking about its reliability, he said it is flexible enough to let people get services without an application. “However, one needs to register to own My
Wallet account,” Nchai cautioned. He added that a street vendor can be able to assist customers with cash-in, cash out and send through, by sending money to another person using an agent.
“We introduced send through because we realized that there are older people who cannot
follow all the steps taken to send money through My Wallet, therefore they also need to be assisted in the financial model,” he said. He emphasized that street vendors who have My Wallet accounts can sell electricity
and airtime for both networks to their customers and taxi fare payments can as well be made through My Wallet. Nchai said another advantage of My Wallet is
that businesses like supermarkets and general dealers can be able to monitor the performance of their businesses from a distance. “One can run their stock
as this will assist to record the amount of stock bought and sold out,” he said. He added that My Wallet also provides point of sale services whereby a business can be able to issue electricity or airtime
receipts, human resources management system and customer relationship management system to strengthen the relationship between the business and its customers.
“There are many other services that the business sector can benefit from My Wallet”, Nchai insisted. Smartel
Money’s Head of Operations Sepholo Khabele explained that this system was built and licensed by the Central Bank of Lesotho (CBL) in 2012 and was introduced in
2016 in an effort to assist businesses and Basotho. Khabele added that businesses
can use customer relationship management to communicate with their customers when businesses that work corporately can communicate between themselves, set
quotations, invoices and make payments through My Wallet mobile money. He noted that a business can use human resource management system to pay salaries of employees and manage their leaves using My Wallet.
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