Africa-Press – Namibia. NATIONAL posting company, NamPost, yesterday launched a money transfer service, PostPay, which will allow customers to send money from any NamPost branch to anyone with an MTC phone number.
This game-changing way of banking comes at a time when consumers are crying because of high banking fees and is expected to shake up the fintech industry.
Through PostPay, the company said the receiver of the funds is notified by SMS to redeem the money, which can be done at any of the 133 post offices countrywide.
In return, the sender is notified by SMS that the funds they sent have been received all at a cost of N$7,95 for each transfer that is charged on the sender.
“The NamPost PostPay product is specifically designed and targeted at individuals who may have limited means and challenges in terms of money transfer, access and affordability,” NamPost chief executive Festus Hangula said at the launch at NamPost’s Okuryangava branch in Windhoek.
He said the service is designed to take advantage of the nationwide reach of NamPost and to reach outlying communities wherever the post office is represented.
“It allows every Namibian access to affordable money transfer service using any of our post offices in Namibia,” he added.
NamPost board chairperson Simeon Amunkete said the company has embarked on a journey to transform into a digitally enabled entity to serve its clients’ evolving needs.
“Therefore, the rollout of the PostPay money transfer service will not only digitise the existing money transfer services between our 133 branches, but will also give the customer the convenience of being informed via an SMS when the money is remitted to them,” Amunkete said.
NamPost’s revenue increased to N$875 million in 2022 from N$861 million in 2021. The company paid a dividend of N$8 million to the government.
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