Wallet One has released an e-wallet in South Africa that enables users to purchase prepaid services including phone airtime minutes and prepaid electricity, pay bills, transfer funds and shop online without requiring a bank account, according to a press release. 

Consumers can use the e-wallet if they possess a valid Republic of South Africa identification number and a cell phone, according to the announcement. Wallet One did not provide more details in the release about how the service works. 

Wallet One touts a unique loyalty program for its service, according to the press release. Users can earns discounts on transactions made through the wallet ranging from 1 to 10 percent, depending on the provider. Wallet subscribers receive a 15-rand (US$1.50) reward for each successful referral they make to the service.

“We consider the Republic South Africa as a prominent market and a stepping-stone for our future business development in African countries with the best outlook for e-commerce growth," Anna Ivanova, international development director at Wallet One, said in a statement. "Our next step in RSA shall be the launch of W1 check-out, our electronic payments aggregator for e-commerce merchants."