‘Convenience redefined’, that is the service mantra being promised by INSTACASH; Eswatini’s newest and third
mobile money operator. All mobile money operators (MMOs) in the country are regulated and licensed by the
Central Bank of Eswatini. INSTACASH started her operations in 2021, albeit on a pilot basis, and got the full golive authorization in February 2022. Since then, INSTACASH has been bolstering her presence in the fast-growing mobile wallets market through robust and strategic partnerships with various entities across sport, arts,
green environment, and education. Ostensibly, INSTACASH is the new buzzword in town.
INSTACASH’s value proposition is centered around convenience, accessibility, simplicity, and security. Convenience is delivered through interoperability – that is, the possibility of registering as a customer regardless of
which mobile network one prefers. Whether one uses an MTN or Eswatini Mobile number, they can register as a
customer. However, it is important to note that one can only open one account with INSTACASH, so it is important to choose just one number from possibly more numbers that one may have.
Convenience is also delivered through the possibility of making diverse transactions via the INSTACASH mobile
money platform and these include sending and receiving money; buying airtime for any mobile network regardless of which number the customer used when registering; making payments for goods and services at merchants (shops) that accept INSTACASH TILLPAY; buying electricity; and making bill payments for various billers.
Accessibility is ensured by a wide and far-reaching agency network that INSTACASH is currently developing
countrywide.
INSTACASH redefi nes convenience
MOBILE MONEY MATTERS
Mandla Nxumalo – MD Intsacash
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INSTACASH has made a commitment to ensure that vending agents are available countrywide within a radius
of 1km (from residential and commercial areas) by December 2023. This means every shopping centre in both
rural and urban areas shall have at least one agent by then. Already, there are over 200 INSTACASH agents
throughout the country, and these are located in Mbabane, Manzini, Nhlangano, Buhleni, Piggs Peak, Hawane,
Luyengo, Lobamba, Simunye, Madlangempisi, Bulandzeni, Ndzingeni, Matsapha, Ezulwini, Mankayane, Bhunya, Hlathikhulu, to mention but a few. INSTACASH is currently recruiting agents (both practicing and aspiring
business people), and training the same on how to serve her fast-growing customer-base. Also, in growing her
agency network in line with the promise to deliver on the accessibility promise; INSTACASH has partnered with
the regional football associations from the country’s four regions, wherein INSTACASH is sponsoring one day
tournaments for all leagues governed by these (associations). These tournaments will be played at the popular
home grounds of the qualifying teams, and INSTACASH will ensure shops around those places are recruited
as both agents and merchants so as to ensure customers continue to access financial services way after the
tournament have been played. INSTACASH models these propositions around the national financial inclusion
strategy, especially the four pillars of access to transaction services viz send and receive money; access of insurance services; access of savings facilities; and access to loans. All these will be rolled out methodically over
the coming 12 to 24 months.
Simplicity according to INSTACASH is ensuring that financial inclusion brings on board everyone regardless of
their level of social status, gender, age, and education. In this regard, the INSTACASH mobile money platform
can be easily accessed from the most basic of phones using a short code *365# (also called a USSD). By dialing
*365#, registered INSTACASH customers are able to access the full INSTACASH menu.The menu is simple to
navigate, and simple to interact with so as to conduct and complete a transaction. *365# is available 365 days
in a year.
While you do not need internet connectivity to conduct a transaction via *365#, INSTACASH has also catered for
the tech savvy who prefer mobile apps to conduct the same. Of course, these would need connectivity although
very minimal data would be needed. The INSTACASH app is now available from Google Play Store for android
smart phone users. Before the year ends, it is expected that the same app would be available for iOS smartphone
users as well.
Security is the most important proposition for INSTACASH, as it is for all other financial services providers.
The INSTACASH mobile wallet is protected by the customer through a four-digit personal identification number
(PIN). Amid registration, a customer sets their own 4-digit PIN that should NOT start with ZERO. It has to start
with any digit (from one to nine). It is essential that customers do not share their PIN with anyone (not even
INSTACASH employees). A PIN, as the name suggests, is personal; hence private. It is the lock to your mobile
wallet. INSTACASH also ensures her customers’ data is protected at all times; hence complies with regulatory
requirements and specifications on privacy data protection statutes.
INSTACASH has come not to change the mobile money industry but to augment it in new ways, new technologies, and new ecosystems that will enable e-commerce from the palm of one’s hand. It is in that premise that
INSTACASH promises customers that the control of their finances is now in their hands.
INSTACASH; In your hands.
Visit the INSTACASH Service Centre at the Swazi Plaza in Mbabane to register as an agent or customer. You may
register as a customer from any INSTACASH agent found countrywide. You may also register as a customer
from INSTACASH foot soldiers. Please note that foot soldiers DO NOT accept any cash, only vending agents
accept cash. Prospective agents should never give cash to any foot soldier or agent when being on-boarded, but
should only pay at the INSTACASH Service Centre after getting a letter of acceptance as an agent. Call Centre
contact number is 365 (currently accessible via MTN numbers). Follow INSTACASH Facebook Page for daily
updates and visit our website for more details: www.instacash.co.sz. For merchant and/or agent applications,
call our Sales Executive on 24047251.
INSTACASH redefines convenience
