FIRST KAZAKH E-WALLET
The market needed a method of payment that would become an alternative to cash, be more affordable and convenient than a bank card.
One of them was the e-wallet of our company with the same name - Wooppay.
E-commerce started developing rapidly in our country about 15 years ago. Sending money to friends and family, online shopping, takeaways and delivery services, utility bills and online games - all at your fingertips from your mobile.
Back in the day, the level of digital banking, with the exception of several market players, was low, the ability to make online payments was extremely limited.
Until recently, digital payments were limited mostly to withdrawing cash from ATMs once a month on payday and paying utility bills or topping-up your mobile airtime credit through payment kiosks with high commissions for each payment. Market trends have changed greatly since then.
Wooppay wallet lets users make online payments and is available to everyone, even people without a bank account.
The wallet was designed with simplicity and ease of use at its core.
User interface is welcoming and clear from the first step of registration up to creation of your own piggy bank. Designing our product, we focused on common behaviours familiar to our users paying their bills; the interfaces are matching the exact copies of bills delivered by mail.
We have minimized the process of filling out account and identification data, presented an easy way of going back to all the payments made previously, added the most frequent merchants to "favourites" to avoid spending time searching for them. More than 450 of service providers are available for payment - ranging from mobile top up to school or college tuition, all at zero cost to the user.
Users can link their card to the wallet, card details are safely stored on the account and all the next payments will be confirmed with just a short CVV code instead of the 16-digit card number.
If the wallet doesn't have any funds available, the payment will be made directly from the card without extra steps for the user and no card data would be sent to the service provider.
Partnership with Wooppay has helped to get the people from any region get access to e-commerce and digital payments.
Users purchase products remotely, send money to relatives and friends in any part of the country. Wooppay also makes it possible to withdraw funds in the branches of Kazpost JSC and Qazkom ATMs without even having a bank card.
Wallet complies with the international security standards PCI DSS, and is joined by about 10 thousand users per month.
Wallet is available to residents of 17 countries, including Russia, China, the United States, the United Arab Emirates and India. We are finalising additional functionality for VIP users. One of additionally available services will be overdraft, letting trusted users to pay for bills and services with no funds at disposal.
Products like Wooppay wallet are raising awareness and building trust for digital payment, increase financial inclusion and grown the digital economy.