*Cashloop does not charge for sending money from one eWallet to another eWallet or a Merchant. There is a 6% upload fee for topping up your eWallet, but no other fees after that unless you want to withdraw from your eWallet.
Cashloop is the finance version of David vs. Goliath. We were fed up with our banking and member loyalty experience, often incurring unknown and hidden fees. With customer loyalty at big banks at an all-time low, they figured building the next great financial application, one that could service 99% of all South African’s (even the unbanked), not just the 1%, was the right idea for the times.
Instead of building a bank right away, we started with solving simple pain points like unbanked users and free peer-to-peer transfers. Today, Cashloop is solely focussed on a ‘closed-loop’ ecosystem that allows member-based organisations like churches and schools to effectively reduce theft and corruption whilst enhancing the user experience and enforcing strict social distancing measures by enabling cashless, contactless transacting.
In a meritocracy, everyone has the right to express their opinions and are encouraged to share them openly and often. Those opinions are listened to and decisions are then made based on those that are deemed the best. By implementing this methodology we have successfully built a business of like minded team members who strive for best in both our app, but also for our clients.
Creativity predicts a longer life. In this Scientific American article, “researchers found that only creativity—not intelligence or overall openness—decreased mortality risk. One possible reason creativity is protective of health is because it draws on a variety of neural networks within the brain.” James Clear cites studies and research that demonstrate creating something decreases negative emotions, reduces stress and anxiety, and improved medical outcomes. Not only can being creative help you live longer, but it can improve your quality of health and life too. This is why we promote creativity from everyone at Cashloop. Our journey is never done, our app is always evolving and having the right minds working together is why we have created such a life changing application.
The more money you make, the implication is, the better and more successful you are. We believe this cheapens the mission and sense of purpose that our application brings to the market. Our ethos and method is to constantly drive large portions of our wealth back into communities in need. Our app development company (SixEightThree) has committed to the distribution of much-needed food parcels during the lockdown and as a business, we are constantly looking to invest back into young South African startups and Entrepreneurs like ourselves.
Don’t like talking to machines? Why not chat to us via the floating Whatsapp button on the bottom of your screen. Or better yet, send us an email and someone will call you back within 60 minutes.