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.
