South African bank Absa has partnered local fintech startup walletdoc to offer users a smart, secure and convenient way to pay their bills.
Founded by Dan Wagner and Leonard Shenker, walletdoc is a mobile and web bill payment platform which allows users to benefit from credit card loyalty programmes by earning points, cashback or miles when making bill payments.
The solution notifies users when bills arrive, reminds them when bill payments are due and allows them to pay bills with a credit card. It also takes care of account and reference numbers, resulting in a hassle-free experience for users while ensuring billers always receive reconciled payments.
Users can pay multiple bills in a single transaction, and no longer need to manually print and file bills together with proof of payment, as walletdoc digitally stores your bills and payment history.
“Partnering with a sophisticated bank such as Absa required us to invest in a comprehensive and robust suite of information-protection measures. Data is fully encrypted and mobile transactions use either fingerprint or PIN authentication, making it safe for users to pay their bills anytime, anywhere and on-the-go,” said Shenker.
The partnership with walletdoc is another example of how Absa is collaborating with entrepreneurs and startups to bring innovative solutions to customers, said Willie van Zyl, head of card issuing at Absa.
“The global banking industry is faced with an ever-changing landscape as customers opt to migrate to digital channels,” he said.
“We are seeing a huge change in the way our customers pay for products and services and walletdoc is another step forward in our mobile banking journey. Using walletdoc is hassle-free and easy and we encourage our customers to get on board. We have piloted walletdoc with some of our clients and they have been delighted by the simplicity of this innovative solution.”
Absa Rewards customers will earn cash rewards to spend in any way they like every time they use walletdoc to pay their monthly accounts. While the bank will be marketing the local startup’s payment platform to its consumer card customer base, anyone can use the solution whether they are an Absa client or not.