CAPE TOWN – Flash Group, a prominent player in digital payments and financial services and Ecentric, a leading payment solutions provider, have joined forces in a new strategic partnership set to transform the payment landscape in South Africa. Together, they will focus on expanding access to financial services, particularly through the integration of 1Voucher—a prepaid payment voucher that converts cash into digital currency.
This partnership aims to create greater opportunities for both merchants and consumers, driving financial inclusion in South Africa, by making it easier for cash-based customers to engage in the modern economy.
Speaking about the partnership, Ruan Geyser,General Manager at 1Voucher, highlighted the significance of this collaboration: “We’ve always aimed to make people’s lives easier through technology, and this partnership with Ecentric allows us to extend that vision even further.
Ecentric’s integration with several of South Africa’s largest retail partners positions our partnership to provide valuable access to these markets. By integrating 1Voucher into Ecentric’s payment ecosystem, we’re opening doors for cash customers who’ve historically been excluded from digital payments.”
With over two decades of experience in South Africa’s informal retail market, Flash Group has built a network that serves more than 25 million cash-based consumers. Driven by a vision for a more inclusive and connected economy, the company expands opportunities for businesses and cash-based customers by providing innovative payment solutions and services.
This collaboration with Ecentric is another step toward expanding their reach and offering even more value to merchants and consumers alike. Together, the aim is to work to meet the changing needs of customers, and ultimately drive product and service access to everyone, everywhere.
Inge Oosthuizen, Product Owner at Ecentric added: “Partnering with Flash Group aligns with our mission to deliver innovative, secure, and accessible payment solutions, meeting consumers where they are at. By offering 1Voucher as a payment mechanism, we’re empowering consumers who prefer to use cash while providing merchants with access to an untapped customer base.”
The technical integration is designed to be straightforward, opening up new customer segments without requiring significant changes to existing point-of-sale infrastructure.
The user experience is created to allow individuals to digitise their cash through purchasing a 1Voucher at any retailer within the 1Voucher network. Subsequently, they can use their 1Voucher 16-digit PIN to complete in-store transactions, without the need for a bank account or credit/debit card.
When using 1Voucher as a payment method in-store, consumers benefit from enhanced security, as there’s no need to carry cash. Instead, they can rely on their 1Voucher slip, which holds the equivalent value. Additionally, customers can effortlessly send a 1Voucher to loved ones at no cost by sharing the 16-digit PIN via SMS, WhatsApp, email, or the 1ForYou app, eliminating the transaction fees often associated with cash transfers. Ecentric will also be enabling its merchants to accept 1Voucher as tender online in the future.
With Ecentric already processing 20% of South Africa’s card transactions and serving as a trusted payments partner to 65% of the JSE listed retailers, this collaboration represents a broader movement towards bridging the gap between cash and digital payments in South Africa, offering secure, convenient, and inclusive solutions for all.
For merchants, integrating 1Voucher as a payment option means reaching new customers who were previously reliant on cash-based transactions and also provides consumers with a safe, cash-free way to make in-store purchases.
As the collaboration unfolds, both companies emphasise that this is just the beginning of their efforts to innovate in the payments space. They plan to continue exploring ways to make transactions more accessible and convenient for all South Africans.
To learn more about 1Voucher and its integration with Ecentric, visit https://www.1voucher.co.za/
About Flash Group:
Flash Group is a South African fintech company that strives to make people’s lives easier using technology. Driven by a vision for a more inclusive and connected economy, we expand opportunities for entrepreneurs, businesses and cash-based customers by providing new payment solutions and services. We work to meet the changing needs of our customers, and ultimately drive product and service access to everyone, everywhere.
Over the past 20 years Flash has been immersed in the South African informal retail market, serving more than 25 million cash-based customers. In order to connect more customers and businesses, Flash has expanded its reach and impact through partnerships with local and international retail businesses and larger corporates.
For more information, please visit https://www.flash.co.za/.
About Ecentric:
Founded in 1998 by a group of payment industry specialists, Ecentric Payment Systems are leaders in payment compliance and security and offer a comprehensive experience as well as expertise across the payment gateways landscape in South Africa.
Ecentric offers one-stop, omnichannel payment solutions to its customers, by providing the tech, expertise and infrastructure that places its clients in control of their payments and reconciliation.
Currently, Ecentric processes 20% of South Africa’s card transactions and serves as trusted payments partners to 65% of the JSE listed retailers, serving their in-store, online, mobile and omnichannel payments requirements – making it convenient and affordable for all customers to transact on their preferred channel.
For more information, please visit https://www.ecentric.co.za/
