Ever wondered why you can’t transfer airtime from your network to another? And still, why are we allowed to accumulate airtime and data amounting to hundreds of rands but there isn’t a way to convert that airtime to cash?
“We were looking for an affordable and secure payment gateway to replace okota’s cash on delivery payment system. And the only solutions we could implement were credit/debit card payments and M-Pesa but these weren’t viable; This would have driven up our margins unfavorably and changed our user experience significantly. So, we looked at prepaid airtime and thought, ‘who knew?!’” exclaimed Phillip Legodi, Crowdcoin’s managing partner .
Crowdcoin works like a bank account: deposit cash into your account and use the available balance in your account to shop online, buy prepaid airtime and send/receive money. The only difference is that instead of depositing cash, you transfer airtime to crowdcoin.
With a positive balance users can:
- Buy prepaid airtime and electricity
- Pay verified crowdcoin merchants
- Send money to other crowdcoin users
- Transfer money to a PayFast account
- Withdraw cash via FNB’s E-wallet
Droog Foundation’s emphasis while developing crowdcoin was on accessibility, seamless integration and security. Users can access crowdcoin from any mobile device through its ussd channel by dialing *120*912*82# or by visitinghttps://www.crowdcoin.co.za
Launched early April, 2015 crowdcoin already boasts money 50 000 users and has undertaken a massive campaign to get online stores to add the pay-with-crowdcoin button on to their checkout pages. Phillip explained that crowdcoin is what e-commerce needs in order to penetrate the growing township market, ” Imagine the possibilities if Sipho knew that he could buy a dvd fromor host a site with webafrica and never have to walk to the bank or have to ask for his parent’s credit card details in order to pay for his order. He could just load airtime, transfer it to crowdcoin and click the pay with crowdcoin button. That’s it.”