The explosive effect of ZunguZ on online shopping

PRLog (Press Release) - Jul. 18, 2012 - “We have been overwhelmed with the requests from some of the largest banks in the world, as well as most of the South African prominent banks, to leverage our platform to deliver their services. This works really well for us, as ZunguZ is not a bank, does not provide bank services and never touches the money.” Says Robert Sussman; co-founder of the social money transfer service for Facebook.

For the unenlightened, ZunuguZ is a multi-tiered platform that is deeply integrated into the social graph and a host of financial services, it allows a Facebook user to pay another Facebook user without the requirement of a bank account or email address at no cost, making it the first of its kind.

Key elements of Facebook would be the establishment and maintenance of relationships, ultimately allowing users to foster interactions which are more intimate, and in turn it has altered the very foundation of the ways in which we relate. ZunguZ offers Facebook users another reason to enjoy the social media offering and to remain online for longer.

With the explosion of online shopping, retailers have begun to expand their product offering, simultaneously improving on the ways and means customers shop online. The online shopping experience has been enhanced, creating a more ‘memorable’ online shopping experience. Leader in collective online buying, Groupon owes part of its success to its ‘easy-to-use’ website and the obvious value for money promotions on offer. “We all need treats, even when things are tight,” says Wayne Gosling, CEO of Groupon South Africa. According to Robert Sussman, ZunguZ is powered by people, “ZunguZ is not a payment platform at its core. It is the intelligence layer where ZunguZ is completely different, in that it is built with people at its centre.”

“While we gear for the release of the second tier platform, we are intercepting the ‘un-banked’ and ‘low-banked’ population at the point of purchase.” Says Sussman. The pro’s associated with this social money app are endless; the implementation of proven security like Thawte certification, SSL, HTTPS and second factor authentication, as well as the fact that registration takes a couple of seconds, and one has the option to allow ZunguZ to announce on his or her behalf via their Facebook Time Line when money is transferred to a friend or when online purchases are made is enough proof.

“ZunguZ will take the ordinary shopping experience and make it social, therefore placing the retailer’s customers at the centre of the shopping experience where they would have the potential to act as a brand ambassador for their favourite store.” Says Sussman, on the topic of ZunguZ and its ability to bridge the shopping experience with the online experience. When asked what the future holds for ZunguZ with regards to its impact on e-commerce, Sussman believes that there is a massive referral base, “The customer has an influence over his or her friends to promote the brand or store in question, in turn rewarding your customers for referrals and ‘eyeballs’ by way of incentive schemes.”