Aetas Transact: What it is, How it works, and the impact it can have on Your SME Business
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Businesses of all sizes, from local SMEs to national operations, and types, can benefit from the Aetas Transact platform, no matter what type of goods or services they provide. |
What is Aetas Transact?
Aetas Transact is a unique, innovative trading platform that brings buyers and sellers together in what we like to call the “Second Economy” of South Africa – an environment where the more customers spend, the more value they create, giving them more buying power and increasing the demand for the goods and services provided by participating vendors.
How does the platform work?
The Aetas Transact platform allows vendors to advertise their goods and services to new and existing customers, who are then rewarded with 100% of their spend at participating businesses back in SIΣGMA (Σ), a virtual currency created to facilitate trading.
So, for every R100 a customer spends, they get Σ100 back to spend again – compare this to the more traditional programs out there that offer a few percent of spend to members as a “reward”.
Once the customer has earned the SIΣGMA, they can give it back to the vendor in exchange for more goods or services or keep it in their e-wallet to spend later (the earned SIΣGMA are immediately available to the customer for spending). They can also simply pay the vendor in SIΣGMA, earned by supporting the same or other businesses, instead of Rand - as long as they have enough in their e-wallet, giving them the freedom to choose when and how to use each currency.
The vendor can either redeem the SIΣGMA and be paid in Rand by Aetas (immediately) or retain and use them to buy goods and services they need from other vendors.
The Aetas Transact platform has a wide range of participating retailers and other businesses that offer goods and services that include fast foods, restaurants, clothing, airtime and data, accommodation, airline tickets, car rentals, and others.
Although many of these providers are national companies, there is plenty of scope for smaller businesses to benefit from being vendors.
Example 1:
A customer buys R100 airtime, receives Σ100, and uses this to purchase from a small/local business that is a vendor.
Example 2:
A customer supports your local business and is encouraged to spend more with you because they know they can get the equivalent value back in airtime, data, fast food, or other items from a national business.
The platform creates a unique “second economy” in which customers create value by spending, and this value flows back to participating businesses – and all vendors, large and small, benefit by being involved and playing off each other’s sales and customer bases.
So, for every R100 a customer spends, they get Σ100 back to spend again – compare this to the more traditional programs out there that offer a few percent of spend to members as a “reward”.
Once the customer has earned the SIΣGMA, they can give it back to the vendor in exchange for more goods or services or keep it in their e-wallet to spend later (the earned SIΣGMA are immediately available to the customer for spending). They can also simply pay the vendor in SIΣGMA, earned by supporting the same or other businesses, instead of Rand - as long as they have enough in their e-wallet, giving them the freedom to choose when and how to use each currency.
The vendor can either redeem the SIΣGMA and be paid in Rand by Aetas (immediately) or retain and use them to buy goods and services they need from other vendors.
The Aetas Transact platform has a wide range of participating retailers and other businesses that offer goods and services that include fast foods, restaurants, clothing, airtime and data, accommodation, airline tickets, car rentals, and others.
Although many of these providers are national companies, there is plenty of scope for smaller businesses to benefit from being vendors.
Example 1:
A customer buys R100 airtime, receives Σ100, and uses this to purchase from a small/local business that is a vendor.
Example 2:
A customer supports your local business and is encouraged to spend more with you because they know they can get the equivalent value back in airtime, data, fast food, or other items from a national business.
The platform creates a unique “second economy” in which customers create value by spending, and this value flows back to participating businesses – and all vendors, large and small, benefit by being involved and playing off each other’s sales and customer bases.
Using Aetas Transact as a Vendor
Using and benefitting from the platform as a Vendor is very straightforward:
- Download the Aetas Transact app from the Google Play Store
- Create a SIΣGMA e-wallet (there is a nominal R45pm wallet charge, but no other costs)
- Use the app to list your products and services on the platform – you can upload images and videos to make the listings more appealing
- Wait for customers to visit your business or order from you online
How your business will benefit from using the Aetas Transact platform
- Increase your sales by up to 40% (as experienced by some current vendors)
- Exposure to new customers
- Existing customers spend more – they can redeem the SIΣGMA you give them for more of your goods and services, or use SIΣGMA they earned elsewhere to pay you
- Customer loyalty – because you give them more value
- Pairing or being paired with other offers to stimulate demand
- elsewhere
- Participate in the second economy, based on supply on transact not just supply and demand, and benefit from being an early adopter as this concept grows and becomes more popular
CLICK HERE to download the App on your mobile device, and HERE if you’d like to send us your details so one of our team can give you more information and guide you through the registration and SignUp process.
