ZunguZ Inc. is a Delaware USA registered company with a presence in the heart of Palo Alto, Silicon Valley, not far from Facebook and a footprint in Cape Town, South Africa.
The concept has evolved over a few years, and led to the development of the multi-tiered platform after numerous studies and meetings with the leading social networks, most innovative financial services companies and global banking institutions to understand their strategy in the payment, goods and services and purchasing space. From Silicon Valley to New York to Mexico to India and to Africa, the release ofcaught the eyes of the most prominent tech names in the valley.
After a successful proof of concept and closed beta, we opened up with a soft launch to South African users. USA, Mexico and India are now being launched and end point of presence for withdrawals will be available in these regions shortly.
ZunguZ is essentially a multi-tiered platform that has deep integration into the social graph and a host of financial services. The first tier is live and the viral distribution alone has been beyond our wildest dreams. While there are a host of diverse P2P, P2B, B2B payment systems in the market, even though ZunguZ is the first platform that allows a Facebook user to pay another Facebook user (with no requirement for a user to have a bank account or email address), ZunguZ does not compete with the likes of PayPal. It is the intelligence that exists in the level 2 and 3 layers where the core ZunguZ business model exists, allowing the referred distribution of purchases to your network. After all, people trust their “friends”.
ZunguZ has the potential to influence the purchasing decisions of around a billion users across the world. And while we gear for the release of the second tier of the platform, we are intercepting the unbanked and low banked population at the point of purchase. We have been overwhelmed with requests from some of the largest and most prominent banks in the world, to leverage our platform to deliver their services. This works really well for us, as ZunguZ is not bank, does not providing banking services and never touches the money.
……and we are just getting started!
How long does it take to activate my account?
How much does it cost?
A: There is no cost to deposit money, withdraw money or to move money around to your Facebook friends.
How can I deposit money?
A: Using any Visa or Mastercard debit/credit card anywhere in the world.
Where does my money go?
A: Into a regulated bank account.
Where can I withdraw my money from?
A: Any South African bank – other territories are currently being on-boarded.
How secure is my money and are my banking details ever exposed on Facebook?
A: Like your bank; we use SSL, Thawte, HTTPS & 2nd factor authentication and banking details are never exposed.
Are my bank details stored or linked to Facebook ?
What if my Facebook account gets hacked?
A: Your money is not stored in Facebook, but in a secure regulated ordinary bank account.
Must my friend or family member have a ZunguZ account?
How it works
ZunguZ is a social app which allows you to transfer money via Facebook, It provides the functionality to facilitate automated, immediate online transactions without any hassle or delay. This multi-tiered platform integrates deeply into the social graph and a host of other financial services. Money is exchanged cost-free and securely without the requirements of a bank account or email address.1
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Palo Alto Headquarters
630 Hansen Way,
Cape Town Office
The Equinox, Milton road,
Sea Point, Cape Town,