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The ease of buying airtime and data with Virgin Money Spot

How to pay with Spot at participating merchants

Go cashless, and keep your money AND your friends

Taking that much-needed weekend away with your mates just got a whole lot easier. Collecting cash for booking tickets, accommodation, common transport and toasting the good times with your friends – once a thankless chore that strained many a friendship – is now as simple as creating an instant messaging group.  

 Virgin Money’s P2P app, Spot, has a great new feature called Group Pay, which allows users to create groups of friends, name the group, and request payment. Once you know how much you need to collect, you can set a budget. Then it’s as easy as splitting the amount equally, or allocating different amounts – and you can instantly see who has paid, declined or is still pending.

On a weekend away, chances are that at some point you’ll lose track of your spending. In the heat of the moment, you’ll probably borrow some money from a mate, and it will be #happydays for the moment.

Then before you know it, it’s back to reality. The next Monday arrives, and you have to pay them back. And none of the options are attractive.

Option One: get your friend’s bank details and go through the schlep of doing an EFT. Log on. Hope your computer is secure. Enter their details. If they’re with another bank, instant clearance is going to cost you. And is it even safe to share banking details nowadays?

Option Two: take time out of your lunch hour to go to an ATM. Stand in line. Pay withdrawal fees (for what, exactly?). Walk around with a wad of cash in your pocket, looking nervously over your shoulder the whole time. Make a special trip to give your mate the money.

Of course, there’s Option Three: ghost your mate. Ignore their increasingly desperate messages and avoid them like the plague. End up losing your friend over a couple of hundred bucks. Not a great option, either.

Luckily, there’s Option Four: the cashless, easy way. Take out your phone. Open Virgin Money Spot. Click your friend’s name and send them the money. No fees. No fuss. Safe. Convenient.

“Cashless is king. We’ve got to take back control of our own money,” says Andre Hugo, CEO of Virgin Money. “Cash costs you money to draw, and it’s not safe to carry around. The cashless world is quicker, faster, cheaper and safer. And you get to keep your friendships intact!”

 

Download Virgin Money Spot and link your card now: https://virg.in/33Y

Virgin Money makes EFT a thing of the past

Virgin Money Spot makes sending money between friends as easy as sending a text message, instantly and securely, no matter which bank they’re with.

Virgin Money, wants to change the way friends exchange money, with its innovative, peer-to-peer payment application, Virgin Money Spot.

Virgin Money Spot makes sending and requesting money from friends as easy as sending a text message. Users simply download the app, link their Internet-enabled card from any South African bank, enter a security PIN and exchange money with friends – instantly, securely and for free.

“We want to make sending and receiving cash simple. Now you can spot your friend for the meal you shared, or the bet you lost, or your contribution to the grocery bill. You simply spot them the money through the app and we transfer it directly from your bank account to theirs, no fees. It’s that simple,” says Zeyad Davids, CMO of Virgin Money.

“Virgin Money Spot removes the hassle of exchanging banking details for EFT payments and lets users send money safely by simply entering a phone number or tapping a name on their contact list.”

If a user’s card is linked to a bank’s rewards programme, they will earn points for payments made via Virgin Money Spot, as if they were using their card.

Every Virgin Money Spot user is issued with a unique code that they can use to refer friends. Each time someone registers using their code, they’ll both be rewarded with R20 from Virgin Money.

Virgin Money Spot is a 3D Secure payment solution that uses data encryption and PIN-protected payments to provide the simplest, safest and most secure experience possible. Users will only need to load their card details once and will then approve transactions with their unique PIN. They’ll receive notifications each time they make a transaction or are sent money.

Spot was developed in partnership with mobile software company, wiGroup, the largest mobile transactional platform in Africa that wants to simplify and improve the way the world transacts. Last week, it was announced that the Virgin Group had invested in the Cape Town-based firm, which will use the funds to fast-track its expansion into emerging and developed markets.

For more information visit: http://virginmoney.wpengine.com/spot-mobile-payments/