How Tickle is Improving Online Transactions

In an ever-evolving field of finance and accounting where working simpler and more efficiently is crucial. To the communities that are aiming at improving financial accessibility and productivity, new technologies are the perfect answer. Another development worth mentioning is Tickle, a digital innovation that aims to transform the world of cash flow and financial transactions. 

South Africa currently leads the charge in contactless payment adoption on the continent, according to Visa and Discovery Bank’s SpendTrend23 report, which analysed the country’s spending habits. It’s therefore no surprise that there are companies creating interesting and useful tools that are changing the way South Africans transact.   

Over recent years, cardless transactions and mobile banking services have been on the rise in transforming financial transaction processes. Mobile payment technology such as FNB’s eWallet allows us to use mobile phones to send and receive money, a challenge that traditional banking could not overcome. However, Tickle advances its innovation a little further by getting rid of cash systems and charges linked with it.

Unlike traditional systems that involve electronic cash traded offline or physical cash, Tickle works exclusively online. This means that the bank charges that occur when withdrawing cash from an automated teller machine (ATM) will be eliminated, along with long queues and the risks related to handling cash. Exchanges are immediate and free of charge; as a result, Tickle is game-changing in the world of electronic money. 

What makes Tickle especially remarkable is that it is not complicated. In fact, the entire platform is designed to be user-friendly. "All you need is a computer, tablet, or smartphone to get started,” says Letswalo Marobane, who works in communities to help people understand and use Tickle. "Every user becomes a merchant, therefore, there is no need to worry about merchant fees. The process of creating an account just takes around 30 seconds. In addition to the account's address, each one features a QR code, making money transfers as simple as texting or scanning.”

When it comes to financial transaction accessibility, this level is similar to allowing consumers to transact anywhere as long as they have access to a digital device. Whether you are using Tickle to purchase products, transfer money to relatives, or sell products and/or services, it facilitates the movement of funds. This is beneficial in areas where the physical infrastructure needed for traditional banking services may still be limited.  

Tickle’s digital system makes transactions easier and changes how we handle our finances. "With cash being less convenient due to fees, the effort of handling cash, and the risk of losing it, Tickle offers a purely digital solution," Marobane explains. "Digital transactions are easy to track and audit in comparison to cash. 

 

"Imagine a world where everyone, especially those in the lower income class, can benefit from a digital economy,” he envisions. "In this world, people and businesses can use digital money to pay for services. Removing physical cash makes financial and business transactions simpler and more efficient.”

Another advantage of digital transactions is the near or complete elimination of cash, which significantly reduces the chances of theft or loss of cash. Even with Tickle, the security of transactions is enhanced by the flexibility of the platform to record and track all cash movements. This traceability adds an extra layer of security compared to traditional cash operations, thereby giving users and clients confidence to undertake their operations. 

Tickle is not just a financial platform, it’s a tool that helps communities carry out financial transactions more equitably and efficiently. "Tickle provides an opportunity to empower and unite the community, reflecting its true potential,” Marobane says. "This improves our financial relationship, fosters local business growth, and offers the benefits of a cashless system.” 

 

As the future of finance evolves, solutions like Tickle are becoming integral to its transformation. Tickle is not only merely about transferring funds but it's about creating a better, safer, and more prosperous world for everyone. 

 

"The inclusion of Tickle into the financial world gives a glimpse of how financial transactions could be in the future easier, more secure, and more open to everyone. Tickle is ready to be part of this change, we are excited to contribute to optimising the financial systems for everyone in the communities to enhance their business financial management,” Marobane concludes.