Pick n Pay launches Money Transfer service at 1,400 locations

Pick n Pay has introduced a new money transfer service that enables customers to send money between stores within its extensive network of 1,400 locations. The service, dubbed Pick n Pay Money Transfer, is available for domestic transfers at a cost of R8.00 per transaction.

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Customers can transfer amounts ranging from a minimum of R50 to a maximum of R3,000 per transaction, with a monthly limit of R25,000.

“This service will be interoperable across all Pick n Pay supermarkets, Clothing stores, and Boxer stores in South Africa, spanning a network of over 1,400 outlets,” the group stated.

The registration process for the service is straightforward, requiring customers to sign up with their valid ID document at any store. Following each transaction, senders receive a PIN via SMS, which they can share with the recipient for immediate funds access at any affiliated store, including Pick n Pay, Clothing, or Boxer.

Regardless of the transferred amount, a flat transaction fee of R8.00 applies to senders. Absa will facilitate the service, reflecting the strong demand for money transfer services in South Africa’s competitive and rapidly evolving landscape, which encompasses offerings from banks, retailers, Mobile Network Operators (MNOs), and emerging platforms like PayShap,” Pick n Pay noted.

The retail group emphasized that the service would address various money-related needs for South Africans, including remittances, bill payments, and emergency funds access.