Vodacom to launch fintech super-app in second half of the year
Teaming up with Alipay to create VodaPay, many big SA brands have already signed on
In yet another move signalling the evolution of telecoms business models, SA’s largest mobile operator, Vodacom, will launch its super-app in partnership with Jack Ma’s Alipay — which will be the main hub for its financial services and e-commerce offerings — in the second half of this year, as the Johannesburg group looks to increase its fintech revenues.
As voice revenues fall and margins shrink in mobile data services, mobile operators have been on a mission to grow new lines of business. Like other mobile network operators in Africa, the likes of Vodacom and MTN have turned to financial services to drive growth...