I introduced a new prepaid mobile recharge service through our blog and newsletter recently called Rapid Recharge. It is a service which was only recently launched and provides users of Optus, Virgin, Boost and Telstra prepaid services the ability to recharge their prepaid mobile phone without having to worry about messy PINs or registering with messy accounts or even registering a credit card.
You simply visit the website, select the recharge offer you want, eg Telstra, select the amount you wish to recharge for eg $30, enter your credit card details in (you can in fact use any credit card you want) and the recharge is automatically applied to your prepaid account.
Normally a PIN is provided which you then need to login to the provider’s website with to complete the update. Too many steps and easy to trip up and lose your way. Rapid Recharge is the easiest way to recharge your prepaid mobile phone plan.
What is the catch. There isn’t any real catch other than they don’t cover every prepaid mobile phone plan provider at the moment, just the main ones, which is OK but not perfect.
Speaking to the team over there they are working on a mobile phone application version that will enable you to complete the purchase and auto recharge without even having to visit their website, just use the App to complete the purchase and update. Very easy.
Question is, is there a market out there for recharging and are the margins big enough to warrant the investment. Rapid Recharge believe that what they have created is unique and efficient and customers will turn to it once they discover how good it is.
No doubt the service is quick and much easier than anything else out there at the moment but building brand awareness and developing traffic to fund what is a fine margin game will be challenging.
However, the technology doesn’t need to be limited to Australia only. It could actually be applied to Asian markets where the numbers are much larger and so the ability to draw in the volumes required is much easier.
We are hoping to provide you with discounted access to Rapid Recharge in the coming months. Stay tuned for more on this.