PAYING WITHOUT CASH – “EEZI” AS PIE

This article by Johan du Preez is part of a series on innovative businesses in Stellenbosch’s Techno Park, which appeared in the Stellenbosch newspaper, Eikestadnuus.

“We were ahead of our time when we created cashless trading environments for closed communities,” says Leanne Dorrington from Eezipay in Stellenbosch’s Techno Park.

Eezipay offers members of closed communities such as universities and clubs the facility to pay for goods and services by using their student or club cards. This does away with the need to carry cash and streamlines accounting procedures.

The students and club members are merely end-users. Eezipay’s actual clients are the universities, colleges and clubs that use their services, one of them being the University of Stellenbosch. With the Eezipay system, their students pay for food, laundry services, even transport by using their student cards.

Eezipay started in 1999 when it first developed payroll software, a then one of a kind product to manage payrolls electronically. Following this, they introduced their successful smart card system for cashless transactions on campuses and at clubs.

Eezipay also developed the backend software (the computerised system that manages the product) instead of using a third party. They, furthermore, added a banking service module in association with two of South Africa’s major banks, which allows them to collect funds into the closed loop system and do banking transactions on behalf of their clients, paying their vendors and suppliers. This has carried Eezipay into the commercial sphere.

“We are especially proud of our accounting software,” says Dorrington.  And when one realises that each transaction on the Eezipay system triggers a number of accounting events – whether it’s one user who buys a chocolate or thousands of users booking and paying for meals – then one starts to appreciate the magnitude of the system and understand why Eezipay can justifiably feel pleased about its performance. 

And with Launchpad, Eezipay’s web-based transactional platform, it’s easy to set up clients’ accounts according to their preferences and their requirements for real-time management reports.

Having developed the software in-house, Eezipay is one of only a few companies in their industry worldwide that owns the source code for all their products. As the owners of their software who also provide the hardware and installation services that go with it, Eezipay offers an end to end service without having to make use of other suppliers.

And the “Made locally in Stellenbosch” label of this innovative business not only gives substance to the pioneering spirit of our town, but also credibility to the resourceful work that’s done in Stellenbosch’s Techno Park.    

Ends

Click here http://bit.ly/1SY3lKs to read the article on the Eikestadnuus website.