Hot on the heels of reports that Vodacom is poised to tie up with Nedbank to launch Vodafone’s M-Pesa mobile phone payments system in SA, Standard Bank has said it’s signed a deal with retail group Spar to offer a similar product.The announcement means Standard Bank has beaten its rival to market with a solution.The new “person-to-person money transfer system”, to be launched on Friday, will allow Spar customers to send money to anyone in SA with a cellphone.The new service, called Instant Money, will eventually be available at all 850 Spar outlets countrywide, though the initial roll-out will cover only the Eastern Cape.

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