In partnership with Efficacy Payments and Transaction Junction, Pick n Pay now allows customers to make direct bank deposits at their tills.
Using a technology dubbed Deposit @ Till, any person with a card-linked bank account can simply deposit cash directly to this account through their Mastercard or Visa debit card.
“Deposit @ Till enables South Africans to deposit funds directly into a card-linked bank account at till points at participating stores, including Pick n Pay and Boxer stores countrywide,” read the press release.
The purpose of the technology is to allow those who earn wages in cash to deposit the money into their bank accounts safely as soon as they are paid. “A significant number of wage earners still get paid in cash on either a daily, weekly or monthly basis,” said Andrew Marsh, Managing Director at Efficacy Payments.
“By the time they finish work and get paid, most traditional bank branches are closed and cash accepting ATMs are few and far between. This leaves wage earners vulnerable to criminal elements as they make their way home,” he added.
So far, Deposit @ Till supports 10 banks but there are plans to include more banks in the near future. To make a deposit, you will need to carry your card and the cash you want to deposit. The cashier will assist in processing the deposit and you will be handed over a till slip as proof of the transaction.
“Customers only need to bring their Visa or MasterCard bank card and the cash they wish to deposit to any Pick n Pay or Boxer till point,” says Pick n Pay. The service is also available at other Pick n Pay outlets such as PnP Express, Clothing and Liquor.