Spot Money has partnered with Pargo to deliver its physical debit cards free of charge. Zeyad Davids - Chief Marketing Officer at Spot Money stressed that the partnership with Pargo enables the fintech to provide easy and effective distribution of its physical debit cards.
"Our partnership with Pargo has given us access to a simple, cost-effective distribution solution that keeps our Spot debit cards safe and allows us to easily reach a wider consumer base, which traditional delivery methods don't necessarily allow for." Zeyad Davids.
Launched at the start of 2021, Spot Money has created South Africa's first Open Bank offering that aims to function as a one-stop-single customer-centric platform catering to all of a user's financial needs. The service is delivered through a 'Super App', which works hand-in-hand with the Mastercard developed physical card.
Lars Veul, CEO at Pargo, had this to say on the partnership:
"South Africans are welcoming the ability to take control of their day through the in-store collection as we've seen with the continuous growth in Click & Collect over the last year. We find that the same time constraint South Africans who prefer Click & Collect when shopping online are also interested in a seamless delivery experience when receiving other goods, in this case, debit cards, because it gives them the convenience of never having to queue for service ever again."
The partnership between the two tech start-ups will enable Spot Money users to order their debit card directly via the Super App. Users can select their preferred delivery option.
Pargo will deliver the card at no cost to the user. Users will have the option to collect their Spot Money debit cards at any of the 100 Pargo Pickup points located in Clicks stores across the country.