Our Vision
Fundamo's vision is to revolutionise the world of payments, changing the way people live and do business, making the virtual world a reality. We seek to provide a secure, effective, completely mobile payment system that's interoperable between banks and mobile operators, is simple to use and can be deployed by any bank with ease.

Our Origins

The first Fundamo pilot project began in November 2000 and succeeded to the delighted praise of the pilot users. In the meantime, Fundamo strove to make the system interoperable with as many other payment systems as possible, and has succeeded in creating a truly versatile offering.

Fundamo can now be used across mobile phone networks and within the banking system, as well as with point-of-sale devices and other payment systems. Services such as ticket reservation, prepaid tokens, consolidated billing are easily integrated as "intelligent payments".

A Mobile Payment System

The Fundamo system transforms phones into a powerful payment instrument, capable of transferring money between Fundamo-enabled bank accounts. Fundamo subscribers can make instantaneous, authorised payments from their phones to other Fundamo users, to point-of-sale devices at stores, or on the Internet. This means, for example, that you can buy your groceries, pay for theatre tickets on the Internet, and pay the babysitter, from anywhere at any time - all secured by the PIN number that you enter before a transaction is performed.

To find out more about how our products work visit Product Offering.

What is Fundamo?

A better way to pay

By 2004, there will be approximately one billion mobile phone subscribers worldwide, introducing an unprecedented age of mobility and communication that will change the way we live, work, play, and pay. Fundamo presents an innovative technology that seeks to harness the power of mobile phones and become part of this social revolution.

Fundamo provides a comprehensive payment platform that can be deployed by any bank. This will enable banking clients with a convenient and secure means of managing their money. It will turn their mobile phones into an electronic purse that facilitates secure payments to anyone, anywhere, from any place at any time.

A mobile payment system

A mobile phone is a secure, easy, accessible way to pay. Mobile payments bring the convenience of cards with the benefits of instant cash transfer. This means that funds are immediately available and that one can authorize any kind of financial transaction using a PIN entered on the phone.

The characteristics of mobile phones allows the introduction of convenient services (that was not possible previously). In order to unlock the true potential of mobile payments, systems must be secure, easy to use, flexible and not expensive to operate. Fundamo meets all of these requirements.

A profitable business

Fundamo provides an exciting opportunity for banks (and organisations with banking aspirations) to be at the forefront of payment technology and increase their revenue through the delivery of financial services.

Fundamo will make its business and technology models freely available to third party developers who want to integrate their offerings. One of the first to integrate the Fundamo offering is Prism Payment Technology's EasyPay account payment system, allowing their customers to pay accounts such as electricity, water, and rates from mobile phones.

An open solution

Because Fundamo adheres to open standards, its product architecture can be quickly and easily assimilated into banking systems, and can be used with any third party applications. Fundamo's payment platform supports the majority of existing mobile phones (both WAP-enabled and non-WAP-enabled), can be used across mobile networks, and uses a single interface to operate in conjunction with a number of payment devices.

Fundamo provides a comprehensive certification system for prospective partners, which ensures that the basic principles of compatibility and interoperability can be ensured in any implementation of the payment solution. The product architecture includes a set of rules and principles with which organisations can comply when they develop, operate, and market commercial offerings of the system.

Fundamo offers a number of training courses for management teams, systems integrators, and marketing and sales people. The courses vary from a basic Introduction to Fundamo to detailed courses covering the Fundamo Product Architecture and Fundamo Design and Implementation.


Fundamo's investment partners are Sanlam Ltd, VenFin Ltd, and Archway Venture Partners.

South African financial services institution, Sanlam, has entered a joint investment partnership with VenFin and Archway to leverage the value from the technological innovation that started in its fold. Sanlam aims to make innovative use of its experience, skills and technological resources to deliver products and services of a high quality to all its clients. For this reason, it encourages growth and development in its primary function as a financial services organisation, as well as technological and other specialist advancement. Sanlam now hopes to transfer the benefits of the new payments system developed by Fundamo to its customer base.

VenFin Ltd was established through a recent split of the Rembrandt Group Ltd (sister company to Richemont) into two more focused entities, VenFin Ltd and Remgro Ltd. Rembrandt's technology-orientated investments were combined in VenFin.

Archway Venture Partners is an investment fund that was formed through a collaboration between the South African technology company, Dimension Data, investment house Genbel Securities (Gensec), and the Standard Corporate and Merchant Bank (SCMB) of South Africa. Archway focuses on investments in electronic commerce, application software, and telecommunications.

As CEO of Fundamo, Hannes van Rensburg marries years of systems management experience with a clear understanding of the financial services industry. He was involved in all aspects of the development of the Fundamo solution - from technical and legal to commercial.

Hannes holds a number of degrees from South African Universities. He was one of the founders of a consulting firm (Infomet) specialising in the strategic deployment of technology solutions, and consulted at a large number of blue chip S.A. companies. After ten years at Infomet, Hannes moved to financial services giant Sanlam where he worked as CIO before spinning off the Sanlam- backed mobile payment solutions provider - Fundamo.
As a mentor Hannes is often heard to say "don't put your faith in the method - trust your brain".
Cliff Warren brings twenty years of financial and business experience to his role as the Chief Operating Officer and an executive director at Fundamo. He is excited about the "awesome product offering" that is the Fundamo payment system, and hopes to see it deployed by a large number of banks in the near future.

Cliff enjoys the newness of the company because it allows him to be at the cutting edge of strategy formulation and capital acquisition, and provides him with the opportunity to introduce something completely new into the marketplace. Ultimately Cliff believes the Fundamo system can be deployed by banks globally which "results in a more convenient lifestyle for all users" and creates business opportunities for all who share its vision.

Craig Saks comes to Fundamo from a career in IT architecture and strategy at Sanlam. In addition, he brings with him a background in software process maturity and management consulting.

As the head of Product Development at Fundamo, Craig is responsible for the development of Fundamo's product specification and solutions, and its deployment guide and standards. He also acts as the custodian of Fundamo's intellectual property and oversees the certification of partners' offerings.

Craig is excited to be involved in a "new industry at the forefront of the mobile commerce wave". He enjoys the challenge of creating a new product for a new market, as well as the "energetic" working environment at Fundamo. Craig sees Fundamo as a revolutionary technology, which places a "simple, convenient payment instrument in the hands of millions". He believes that Fundamo is a truly global solution that promises an exciting business opportunity for banks and mobile operators around the world.

Our Team

At Fundamo, we work as a team to produce innovative, cutting-edge technology.
This requires self starters with expertise and vision, who are excited about being part of something completely new and continuously evolving. Everyone at Fundamo is a part of our product, share options are given and everyone's option matters.

upcoming events

Presented by
Further information
21-23 November GSM in Africa
19-20 November Mobile Applications - The Next Generation Marcus Evans
26 March 2002 SATCOM Africa Terrapinn


For further information contact :
[email protected]

Find us

Fundamo (Pty) Ltd

Tel: +27 21 975 6870
Fax: +27 21 975 6880

3 Heuwelkruin Close
South Africa

PO Box 4010
South Africa

[email protected]