Absa teams up with fintech startup walletdoc

Absa has partnered with fintech startup walletdoc to make bill payments a more convenient process.

Walletdoc, founded by Dan Wagner and Leonard Shenker, is an app billed as a “smart, secure and free way” to pay bills on the go. Notable features include notifications for bill arrivals/payment dates, the ability to remember account/reference numbers for payments and electronic bill storage.

To get started, users create an account on the service and ask billers to direct all bills to the associated walletdoc email address. The app will then give you relevant notifications/reminders and allow for seamless payments (including the ability to pay for multiple bills in one payment).

The app supports a host of billers, including municipalities, Telkom, Eskom, the SABC, the SPCA, media outlets, Cell C and more.

The walletdoc and Absa move is just the latest between a bank and fintech startup

“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,” says Leonard Shenker, joint CEO of walletdoc, in an emailed press statement.

Absa said that they trialled walletdoc with customers before, receiving a positive response.

“The global banking industry is faced with an ever-changing landscape as customers opt to migrate to digital channels. 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,” said Willie van Zyl, Absa’s head of card issuing.

“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.”

Are you a customer of a rival bank? Well, you can get in on the action too, Absa noted.

“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. All Visa, MasterCard and Diners Club cardholders also earn qualifying card rewards.”