WeChat launches new mobile banking service in Africa
WeChat's African unit, together with Standard Bank, has launched a new digital mobile wallet, which will allow users to send money to family and friends, store bank cards, and make instant cash payments. Up to three bank cards, which have been verified by Visa or Mastercard security systems, can be stored in the wallet. 

The WeChat Wallet allows users to send money to friends, make easy payments and cash out at any Standard Bank ATM.

WeChat has joined forces with Standard Bank to introduce a digital mobile wallet as part of an extension of its features.

The wallet allows users to send cash to friends and family, store bank cards and make instant cash payments within WeChat, says a statement.

Information of up to three chip and PIN debit or credit cards, which are verified by Visa and MasterCard security systems, can be saved in the WeChat Wallet.

Cards can also be used to cash in and increase a wallet's cash balance, pay for services on WeChat such as airtime, electricity and food, or pay SnapScan merchants, according to the statement.

Brett Loubser, head of WeChat Africa, says: "The new digital wallet service is WeChat's most exciting offering yet. It truly showcases the scope of the platform and provides a safe way for people to store their bank cards and make cash payments on the go in a tech-savvy way. The service is another way WeChat is merging the online and offline worlds, providing people with seamless payment integration in a single application."

People can also Cash In and Cash Out via Instant Money vouchers at Standard Bank ATMs and participating retailers, including SPAR, Cambridge, Rhino and Choppies Stores.

"At Standard Bank, we're devoted to transforming the banking experience by making it faster, easier and much more accessible, anytime, anywhere," says Khetha Mazibuko, head of Personal Services, Customer Financial Solutions at Standard Bank.

"This service is just another way that Standard Bank is making banking a seamless part of our customers' daily lives. Not only does it give customers the freedom to choose how they stay in control of their finances, it provides them with peace of mind knowing that they can do so safely and securely," adds Mazibuko.