These mobile payment platforms do not need a bank account or credit card

  • For the population in rural areas who don’t have an address or paperwork to prove it, FICA becomes impossible.
  • Those who are ‘unbanked’ now have more options with financial service providers who are targeting them.
  • Here are four mobile payment platforms to use without a bank account or credit card.
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You may have heard the term “unbanked” in the last few years, referring to the population that do not have their own bank accounts. 

Opening an official bank account comes with the expected paperwork that is the FICA process. But it can be challenging for those who live in rural areas and don’t have official addresses or paperwork to prove it. 

That, among other barriers to entry, has given rise to a range of financial services that don’t require a bank account or credit card to make or receive payments. 

Here are 4 examples of mobile platforms that don’t need a bank account or credit card to use: 

Spot Money

Spot Money.

The Spot Money app relaunched in 2021 as South Africa’s first ‘open banking platform’. It is not tied to a bank and offers deals from third parties. South Africans and foreign nationals can open transactional accounts, generate virtual cards instantly, make payments or purchases with those credentials or apply for a physical debit card. 

The account can be topped up through EFT payments, using the Ozow direct bank transfer option, or a linked card. It supports buying airtime, prepaid electricity, paying bills and buying digital vouchers. Users can also send each other cash instantly from their accounts, which could potentially be used to pay a domestic worker or gardener monthly. Once you apply for a contactless debit card, it can be used at physical stores. The virtual and physical cards are issued by Mastercard. 

The key differentiator with the Spot Money account is that is incurs no monthly fees, and all in-app purchases and payments are free. It also supports other apps…


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