Yappo, a mobile payment app for students, will be released on campuses across the Western Cape, South Africa, on Friday, February 1.
The free app assists students in spending their money at certain stores, managing their purchase limits, buying from a variety of stores at a discount and even paying friends or advertising.
Founded by South African entrepreneur Stuart Minnaar, Yappo is the mobile app version of studentology.co.za – an online web platform for students with the similar function, connecting brands and businesses.
Minnaar is confident that his product does not have any notable competition in South Africa currently.
“The closest is probably qbsta – an app developed in Grahamstown,” he told HumanIPO in an exclusive interview.
According to the developer, FNB’s GeoPayments is another potential competitor, though Minnaar believes the student catering angle gives Yappo the edge and he hopes to have 30,000 subscribers by June 2013.
Kauai, Checkers, Pick n Pay, KFC and Vida e Caffè are some of the affiliated stores, where purchases can be made through the app.
Credit can be uploaded via a cash, debit or credit card and directed according to a self-determined limit.
Following a two-year plan, Yappo will be rolled out on campuses in other provinces, in target cities Durban, Johannesburg and Port Elizabeth.