10 Facts about mobile wallet technology that you should know

posted on July 20th 2017 in Best Practices with 75 Comments

mobile wallet technology

A lot has been written about the state of mobile wallet technology in South Africa. Some say it’s fallen flat and others say it’s not viable. As a company that spends every waking moment thinking about mobile wallets, payments and how to create more delightful customer experiences for our users, we realise that there is more that we can share on the state of mobile payment technology than anyone else.

In this blog post, we’re going to share 10 facts about mobile wallet technology. You’ll learn that mobile payment technology has come a long way, making it a more accessible alternative to card or cash payments.

Mobile wallet technology has been available for a while

Mobile payments are based on either open- or closed-loop technology or a hybrid of the two. This technology has been around for decades and is similar to the technology credit card providers use to facilitate card payments.


A typical open-loop payment system transaction

A typical open-loop payment system transaction



A closed-loop payment network transaction

A closed-loop payment network transaction



It’s secure

Securing personal information is and has always been an important aspect of making mobile payments viable. Our services are delivered over a secure network and backed by strong authentication and user account access policies.

Unlike a physical wallets with cards and cash that can be stolen or used, mobile phone users have PIN codes for access to their phones, making unauthorised account access more difficult to accomplish.

Mobile wallets also make card fraud harder to perpetrate as cards are not presented during transactions.

You don’t need a smartphone

Contrary to popular belief, it’s possible to use digital wallet technology on smartphones and feature phones, and this creates more opportunity for businesses interested in creating unique mobile wallet-based solutions for different demographics.


different phones supported

For example, TuYu offers a smartphone application for both the Apple iOS and Android platforms, and for feature phone users, we’ve created a USSD code that allows quick access to all the same functionality as the smartphone app.


mobile apps and ussd

Users of either kind of device can make purchases, check balances and transaction histories safely and instantly.

Retailers are on-board

Much of the success that we’ve had in this space is owed to the partnerships and high adoption rate that we’ve experienced with retailers. Today, TuYu users can spend their mobile cash at over 70,000 till lanes across South Africa; purchasing anything from groceries and clothing, to petrol and golfing equipment.



TuYu Retailers


It can be used in a variety of ways

Something that we’re especially proud of is that mobile wallet technology offers companies new and exciting ways to innovate, especially when it comes to engaging consumers and employees.

Here are the various ways in which businesses can use mobile payment technology today:

Debt Collection Incentives

The TuYu platform can be used to pay out rewards based on milestones being reached in the collections process.

Promotions and Payouts

The TuYu wallet is used as a generic payment wallet for promotions or competitions, enabling companies to seamlessly pay out recipients nationally.

Consumer Rewards

We issue product- or retailer-specific coupons and vouchers to consumers via SMS. This is normally linked to specific behaviour or purchases.

Meal Vouchers

The TuYu platform is used to replace existing employee meal vouchers and coupons. Companies only pay for redeemed meals, which allows for increased control and alleviates logistical issues.


The TuYu mobile staff rewards and recognition solution is used to reward and incentivise staff instantly in the form of a rand-based reward loaded directly to a mobile phone.

Account limits

Digital wallets have no fund limits making it easier for users to spend more money within our retailer networks.

Deeper consumer insights

One of the most attractive features that digital wallet solutions offer is the access to user data. For example, unlike restrictive open-loop systems used by credit card providers, companies using our platform have access to more customer data to help them make smarter business decisions.

Easy to use

Simplicity is at the core of how mobile technology is built, allowing end users and companies to easily transact. For example, we use USSD technology to enable feature phone users to transact with retailers, and mobile apps for smartphone users. In both instances, it takes seconds to complete a payment at the till.

For companies using our platform to issue cash payouts to employees or consumers, we offer an online self-service portal and an API for unique integrations.

Flexible integrations

Integrations are an important part of business and of driving efficiency, and using APIs makes it possible for businesses to automate cash pay-outs that are tied to behaviours.

Today, you can link any behaviour captured in your back-end platform to our payment technology and automate cash pay-outs seamlessly.

Quick to deploy

One of the most impressive aspects of mobile wallet technology is that it’s ready to use. In the case of TuYu, we’ve designed our platform to get companies and users transacting within minutes using our self-service portal, mobile apps and USSD code.


Mobile payment technology is more accessible today than ever before. Users with smartphones and feature phones can complete transactions in seconds and have the convenience and security typically not associated with card and cash transactions. Businesses can gain consumer insights not available through other payment technologies and use APIs to enable automated cash pay-outs.

Interested in using mobile wallet technology?

TuYu’s mobile rewards helps companies reward consumers and employee instantly. Rewards are redeemed in-store at 70 000+ till lanes, using your mobile phone. Speak to us today. Call 021 812 1495/6.

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