With the alarming cost of cash withdrawals and the growing concern over data security, South African consumers are rapidly adopting cashless payments solutions, such as Virgin Money Spot.

The app has been developed especially for the South African market and it makes paying or collecting money as simple as sending an instant message.

cashless and secure

One of the greatest benefits of using Virgin Money Spot is the safety and security of the app. Virgin Money SA has just been acknowledged by the international Enterprise Blockchain Awards as a finalist in the Enterprise Transformation category. We’re also the only company on the African continent to be recognised in 2019.

Andre Hugo, CEO of Virgin Money SA: “The blockchain accolade is extremely important in this cashless space, because consumer trust is paramount to adopting alternative payment options like Virgin Money Spot as a platform.” And with more features in development the team believes the business will scale rapidly.

why we do what we do

Virgin Money SA is a purpose led organisation and we place the customer in the centre of our product development approach. “There is more to the future of banking than making current products and services more digital, or simply migrating to a cashless society,” says Hugo. He believes it’s about making life as easy as possible by giving people financial information, the ability to transact instantly and securely but most importantly, giving them choice.

The continual rise of Virgin Money Spot and how it has transformed Virgin Money in South Africa is an ongoing success story, particularly since the innovative app has shown a progressive monthly growth of new subscribers and transactions since first launching in February 2018.

We are very excited about the new features that we’ll be releasing later this year. We believe that they will help to make payments faster, easier and more secure than ever before.