iPurch® International Voucher Payment System (coming soon)
Mark Herpel
August 27, 2008
It is great to see smart entrepreneurs like Mr. Richard Ndlovu hard at work creating his valuable new payment called iPurch. There are potentially millions of new users without credit cards that could benefit from this product. Richard is the Managing Director at NR! Research Labs where they have been busy perfecting a new voucher payment system which will offer some online competition to credit cards. iPurch® International is a home grown payment system that would easily work on a global scale.
This type of convenient cash to digital solution offered by iPurch has been used in other countries with great success. A cash-to-digital solution can dramatically improve e-commerce for previously shut out consumer and the quality of life for many people around the world.
In his emails, Richard repeated the concept of success from a locally created payment solution as opposed to importing a slimed down or modified version of another system like PayPal. He says, "...it's not necessarily better to take a solution from another social climate and trim it or modify it for a different one - it gets messy in the end!"
The creation of this system from the ground up, is a massive undertaking for any company. iPurch is a new voucher payment product for the masses. The importance of this product stems from the fact that it is accessible for all consumers. This product will work for anyone who requires to send or receive a payment, young, old. local, international and it is especially suited for those who do not have a pocket full of credit cards or access to local banking. This is an inexpensive, convenient and safe method to send and receive payments for South Africa and beyond.
If you are familiar with Paymer, UKash, cashU or paysafecards then you may already have an understanding of how iPurch will operate.
iPurch is a GPoP and here is how it works:
A potential shopper browses a web site and selects merchandise. This shopper has cash in their pocket but no bank account or credit card. After selecting a retail purchase, the shopper writes down the total cost. Here is an idea of what a shopper would do in order to complete that online purchase.
The first step is to exchange cash for an iPurch® voucher. A voucher is simply a receipt that contains the iPIN number.
iPurch is not yet available but coming soon and their team has been working diligently to create a 'bug free' environment before the official launch. I'm told that the product should reach the market by this holiday season.
More information will be available in the coming weeks and months. You can also visit their web site for updates and contact info. http://www.ipurch.co.za/index.htm
DGCmagazine
This type of convenient cash to digital solution offered by iPurch has been used in other countries with great success. A cash-to-digital solution can dramatically improve e-commerce for previously shut out consumer and the quality of life for many people around the world.
In his emails, Richard repeated the concept of success from a locally created payment solution as opposed to importing a slimed down or modified version of another system like PayPal. He says, "...it's not necessarily better to take a solution from another social climate and trim it or modify it for a different one - it gets messy in the end!"
The creation of this system from the ground up, is a massive undertaking for any company. iPurch is a new voucher payment product for the masses. The importance of this product stems from the fact that it is accessible for all consumers. This product will work for anyone who requires to send or receive a payment, young, old. local, international and it is especially suited for those who do not have a pocket full of credit cards or access to local banking. This is an inexpensive, convenient and safe method to send and receive payments for South Africa and beyond.
- There is massive fraud and high fees that accompany plastic.
- Cards are not available to most people under 18 years of age.
- Card penetration in many countries can be significantly low. In Africa, more people have cell phones than credit cards or bank accounts.
- There is extensive personal identification and documentation required to get a bank card.
If you are familiar with Paymer, UKash, cashU or paysafecards then you may already have an understanding of how iPurch will operate.
iPurch is a GPoP and here is how it works:
A potential shopper browses a web site and selects merchandise. This shopper has cash in their pocket but no bank account or credit card. After selecting a retail purchase, the shopper writes down the total cost. Here is an idea of what a shopper would do in order to complete that online purchase.
The first step is to exchange cash for an iPurch® voucher. A voucher is simply a receipt that contains the iPIN number.
- The printed voucher can be purchase locally from a participating vendor like a grocery store, shop or garage.
- An iPIN can also be obtained via SMS on a cell phone after sending a VAS SMS for the amount required to make the online purchase.
- Finally, an iPIN voucher may also be obtained from any participating ATM by selecting the 'iPurch voucher option'.
iPurch is not yet available but coming soon and their team has been working diligently to create a 'bug free' environment before the official launch. I'm told that the product should reach the market by this holiday season.
More information will be available in the coming weeks and months. You can also visit their web site for updates and contact info. http://www.ipurch.co.za/index.htm
DGCmagazine
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