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With the country’s economic challenges impacting citizen’s wallets, student financial aid schemes like the National Student Financial Aid Scheme (NSFAS) are critical to easing the burden on students struggling to cope with the rising costs of living.

Clement Manyathela speaks to the CEO of the National Student Financial Aid Scheme (NSFAS) about some of the challenges that the student beneficiaries face and how they are planning on resolving themhttps://omny.fm/shows/mid-morning-show-702/playlists/podcast-1/embed?style=cover&selectedClip=a2ef2039-f08d-4377-94f6-af01008bda13&list=0

Though it has its fair share of issues and controversies, NSFAS provides students with a monthly allowance, to use for their needs.

Some of the issues faced by students only add to their financial stressors. With the current cellphone-based voucher system, students are issued their allowances through the institutions they are registered with.

This has resulted in the date which students receive their allowances being uncertain, as well as their allowance not being paid on time.

To tackle this, NSFAS is introducing a Mastercard system where students’ allowances will be paid directly to to them.

This Mastercard will operate much like a bank card that removes the troublesome middleman. It can be used to make transactions anywhere a standard card would.

NSFAS CEO Andile Nongogo says that the Mastercard is part of NSFAS’s beneficiary model that aims at getting value for students through support.

It also comes with a lot of value-added benefits for our beneficiaries because, I think, part of it is what we are trying to do as part of what we call the ‘beneficiary centered model’ is getting value for our students, not just in monetary terms, but in making sure that even how we support them to, ultimately, get that qualification, there’s value in the process.

Andile Nongogo, CEO – NSFAS

The flexible solution will have an initial open period where students can use the card for any transaction that a bank card has.

This period will function as a way for NSFAS to gather data on what students spend their money on, in order to optimize what deals NSFAS can negotiate for them.

You need to gain and obtain empirical evidence about what students spend on, not just necessarily to restrict, but also to know, from our perspective, what deals do we negotiate for them.

Andile Nongogo, CEO – NSFAS

We will open the card, just for period, so that we understand the behavior for various reasons. Then, of course, there are things that are definitely a no-no for a card that will, then, put those restrictions -but, in terms of flexibility… this is a card that allows you flexibility like any bank card.

Andile Nongogo, CEO – NSFAS

The system will also use the data gathered, in order to get information on what restrictions it would need to set, to prevent students from intentionally abusing the card.

In order to ease the minds of students, Nongogo says that this data gathering is much like any analyses that other bank do on consumers. The process will require their consent.

The card will be deactivated once a student completes their studies, or once NSFAS withdraws their funding.

Point of Sales (POS) systems have come a long way since the sounds of ka-ching from the cash register when paying for goods or having to wait until the till opens to successfully mark the transaction as complete.

POS once only referred to the actual site of where the transaction was being done – typically a counter with the till – and while payments is still at the heart of any POS system – be it online, at a self-service kiosk or handheld device, as technology has advanced so has the POS Systems.

eZaga is part of that digital transformation and offers retailers – big or small, formal or informal an efficient and inexpensive POS System in our ePOS solution that does not require expensive capital layout for equipment of where you need a degree in accounting to understand how it works.

eZaga’s modern ePOS systems enable businesses to manage and track transactions without sacrificing efficiency through the use of smart technology.  

ePOS Lite

eZaga ePOS Lite is an all-in-one merchant android POS system, offering debit and credit card functionality with a built in printer allowing you to transact anywhere at any time. 

eZaga ePOS Lite account-

• Accessible 
• PCI complaint
• Cost effective
• 24/7 customer support

Working with ePOS Lite

eZaga ePOS Lite system functions beyond the traditional system with the ability to transform a hand-held device into a Point of Sale System that is lightweight and compact, with the additional benefits of managing inventory and or stock value in addition to managing payment transactions and compact.

eZaga has therefore made it possible for retailers to manage their transactions easily, without the need for an expert or hefty installation and upgrading costs. 

eZaga ePOS system links your card payment to a digital device such as a pc/ smartphone, thereby  allowing you to create a completely integrated payment processing system. 

The eZaga ePOS system boasts in versatility and the use of state of the art payment gateway. 

However, eZaga ePOS is not only useful for the eSpaza or eBarber, it is further designed to enable transactions for larger retailers and or stores as well with the use of barcode scanners at a fraction of the cost for the more traditional POS systems. 

eZaga ePOS system is not only about efficiency and convenience but also about adding value to the user and is thus deemed a plausible solution to manage payments to and from an integrated hardware to software solution.

Register with eZaga ePOS Lite, to efficiently manage your payment transactions

Get Registered!

eZaga, South Africa’s digital bank, offers easy registration to an ePOS Lite account by simply: 

• Create a Bizz account
• Choose the device that best suits your needs (delivery to your doorstep within 3-5 business days)
• and Start transacting

eZaga is one of the topmost digital banks in South Africa, established with a vision to provide world-class facilities for internet banking to communities and businesses who experience any kind of restrictions and or access to the more formal banking industry. eZaga is renowned for their delivery of secure transactions for businesses, in collaboration with numerous banks to design modern solutions for economic and social inclusion by leveraging the power of smartphones further promote and include a higher engagement of people. 

eZaga HQ is based in South Africa but have branches in Dubai, Botswana, and Mozambique and growing.