ICPay is a unique cell phone based payment system which will be launched within this year. Convenience and reduced costs are within view for cell phone users. Users are allowed to use their cell phones to make payments not only to stores but even to children or loved ones. 

ICPay is not only a payment system, ICPay is also a funds management system. ICPay uses a multi-tiered approach that enables users to transfer funds to 8 sub-account holders. The primary account holder remains responsible for all transactions and credit on the account. The product is a lot like a debit card, accessed through a cell phone. Users may use their cell phones to purchase goods from participating stores. Shop owners can also buy stock from wholesalers by using ICPay. Transactions are recorded on the ICPay server through a mobile service provider.  

Mr. Ian Poalses stated that ICPay was developed to benefit those who transact traditionally. ICPay is currently testing their methods with spaza shop owners in Soweto. ICPay can also be used for prepaid airtime purchases, mobile gaming, Internet vendor payments and VoIP call billing.