South African fintech start-up Zakhaa Pay has launched the Leruo NFC Wristband, a wearable payment solution designed to help informal workers receive instant digital payments with a simple tap.
The wristband allows customers to pay or tip using any NFC-enabled smartphone, without the need for cash, QR codes or even a Zakhaa Pay account. Payments are deposited directly into the recipient’s Zakhaa Pay Wallet in under 10 seconds.
Aimed at waiters, petrol attendants, taxi and e-hailing drivers, barbers, delivery drivers, car guards and informal traders, the device addresses a growing challenge as fewer South Africans carry cash.
According to Zakhaa Pay founder Teboho Twala, the Leruo Wristband is designed to make digital payments more accessible while promoting financial inclusion for workers who may not have traditional bank accounts.
Once funds are received, users can transfer money, withdraw cash through participating partners or spend their balance at more than 700,000 Scan to Pay merchants across South Africa.
With the launch of the Leruo Wristband, Zakhaa Pay is betting on wearable technology to help bridge the gap between South Africa’s informal economy and the country’s rapidly growing cashless payment landscape.
Main Image: Supplied
