Street Wallet, a fintech company specializing in cashless transactions in South Africa, has teamed up with Plush Car Wash, a well-known car care service, to roll out digital payment options for informal car washers operating in Cape Town, Durban, and Johannesburg.
This collaboration enables Street Wallet to integrate its payment platform within Plush’s network of informal car washers, many of whom lack access to traditional banking services. This solution allows these workers to receive instant payments without needing a smartphone or bank account.
In a country where more than 40% of the working-age population is either unemployed or has stopped looking for employment, informal street-based economies have become vital for many. For countless individuals earning a living through car washing and similar services, this initiative marks a significant move away from cash-dependent, risky transactions toward secure, digital payments accessible without advanced technology.
Street Wallet’s system uses QR code technology: mobile car washers carry a card that customers scan using popular payment apps such as SnapScan, Zapper, Apple Pay, or Samsung Pay. The earnings are then transferred to the vendors as Standard Bank Instant Money Vouchers, which can be redeemed at ATMs or retail outlets. Unlike other platforms like SnapScan or Ozow, Street Wallet’s approach does not require vendors to own smartphones or bank accounts, making it a transformative tool for informal workers like car guards and dry washers in busy urban areas.
Neil Meyerowitz, CEO of Plush, highlighted the benefits: “Our teams work in areas with heavy foot traffic where quick and easy transactions are essential. Street Wallet provides a secure and adaptable payment system that advantages both our employees and customers.”
While Street Wallet already has a strong presence in Cape Town and Durban, this partnership enhances its footprint in Johannesburg, which has the second-largest concentration of informal workers in South Africa after Durban.
“This alliance exemplifies how digital payment solutions can seamlessly integrate with everyday services, offering security, simplicity, and inclusivity,” said Kosta Scholiadis, CEO of Street Wallet.
The partnership comes on the heels of Street Wallet’s recent $350,000 funding round at a valuation of $2 million, aimed at expanding its reach within South Africa’s informal sector. Additionally, the company has acquired Digitip, a startup focused on QR code-based digital tipping, to enhance its technology and speed up merchant onboarding.
Scholiadis emphasized that Street Wallet envisions the future of fintech as one that transcends traditional apps, focusing instead on accessible, device-free payment methods that cater to users’ real-world circumstances.
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