As the sports betting market in South Africa and the rest of Africa continues to grow, players are always on the lookout for safe and convenient payment methods. Many have found the solution with the SA mobile wallet integration startup, Wallettec, which was launched in the Mother City in 2013.
Wallettec has now announced that it will focus exclusively on the sports betting space, which it believes will grow even more significantly over the coming years across the continent. Already, the mobile integration company provides payment solutions in 14 different African countries, including South Africa, Kenya and Namibia.
When Wallettec initially started out, its plan was to providemerchants and retailers with the opportunity to accept payments without sharing payment or personal information. In recent years, however, Wallettec has shifted its attention to mobile money providers. It was a natural transition to an exclusive sports betting solution from that point. Wallettec delivers very necessary payment solutions to mobile sports bettors and operators, which are both effective and seamless.
Today, Wallettec works with many local partners in multiple African countries, providing local sports betting industries with payment solutions that are discreet and hassle-free. Wallettec was founded by Johan Meyer, who now also serves as the group’s CEO. Meyer has over two decades’ experience working in the mobile payment space. In an interview with Disrupt Africa, Meyer said that he has always been driven by the idea of providing solutions where they are needed most. He strongly believes African entrepreneurs carry their own solutions as they are very familiar with their own specific problems. “This belief is the reason I have always sought to partner with local entrepreneurs in each country where Wallettec is operating,” he said. “Working with our gaming clients and our local partners within each country, we develop custom tools and payment channels that can help our gaming providers grow their business quickly and successfully.” Because of Wallettec’s experience in the African sports betting market, as well as its sound industry reputation, bookmakers are naturally drawn to working with the group. Many bookmakers don’t have the payment experience needed in the different countries that they operate, and may also not have the time to try out all the solutions in the market. Wallettec’s solution and its reputation give bookies peace of mind when seeking local partners.
Wallettec provides a comprehensive package of products which serves bookmakers, regulators and players. The group’s team examines the needs of the client and then builds tools to meet these specific needs. Bookmakers thus have access to a wide geography of local payment options. Regulators are able to use the tools to collect taxes in real-time. The system has also been designed to thwart tax fraud and help operators with the collections process. Wallettec’s flexible API offers a speedy integration process. Detailed analytic reports can be built using the group’s reporting system. Operators have access to transactional data in real time and the ability to build historical reports in multiple formats from a single platform. Wallettec offers a Mybux voucher platform which makes it possible for bookmakers to issue custom branded vouchers to their clients. These could be discount vouchers, loyalty vouchers or others.