Activity Description: WIZZIT is a cellphone-based banking facility whose target market is the estimated 16 million unbanked or underbanked South Africans - about 60 percent of the country's population. Unlike its competitors (FNB and MTN), WIZZIT does not require users to have a bank account and is compatible with early generation cell phones popular in low-income communities. The facility even works with customers who use pay-as-you-go cellphones - another distinction. In addition to being able to conduct cellphone-to-cellphone transactions, WIZZIT account holders are issued Maestro debit cards that can be used at any ATM or retailer. WIZZIT charges per-transaction fees that range from 99c (USD 0.15) to R4.99 (USD 0.78) and does not charge a monthly fee nor require a minimum balance. There are no transaction limitations - the service is purely pay-as-you-go. WIZZIT employs over 800 "Wizz Kids" - typically unemployed university graduates from low-income communities - to promote the product and help unbanked customers open accounts.