The next killer app is here – it’s called peer-to-peer (P2P) payments, and it’s made repaying your mates for Friday night dinner easier than sending a text message and cheaper than drawing cash from an ATM.


Want to send, or request, money? Simply add a recipient, enter an amount, press send and boom. It couldn’t be easier. There are numerous P2P apps available in the US and Europe, like Venmo and Zelle, but few in South Africa, apps like Virgin Money Spot are building a strong following of people who love the sheer ease of use and the social nature of the experience.

 “Cash isn’t king anymore. Consumers typically pay hefty fees to withdraw and deposit cash coupled with the risk of theft, whereas mobile transactions carry significantly lower fees and charges” says Virgin Money’s CEO, Andre Hugo.

Apps like Spot are changing the way we work with money. Use it once and you become a believer. All you need to make a payment is someone’s phone number – no banking details – and the more friends you have, the better the experience.”

 Spot’s latest feature, Group Pay, even allows users to create groups for specific events where you simply add friends, just like you would in a messaging app. Simply name the group – Ed Sheeran tickets, Youth party, Weekend braai bonanza – add a photo, and request payment from the people in the group. You can choose to split the amount equally, or allocate different amounts to specific individuals, and you can instantly see who has paid, declined or is still pending. Taking the stress out of friends or family owing you money.

 The most difficult part of using Spot? Taking 2 minutes to set it up. You download the app (super-easy). Verify your phone number and register your personal details (easy). Add your Internet-enabled card from any South African bank, enter a security PIN and go through the 3D Secure process. Then you’re secure, and ready to roll.

 Bonus: for every friend you refer, who registers, you both get R20. Get 15 buddies to sign up, and … you see where this is going. And you’ll never have to have those awkward conversations about who still owes money for the last dinner bill again.

Download Virgin Money Spot and link your card now: