Boy are we a sceptical bunch !
After my last post about the R1.5 million rand that is available on the Money for Jam (M4JAM) WeChat platform, I was inundated with comments ranging from “gosh I hope it works” to this lovely email:
Ignoring the multiple exclamation marks, I must confess that this email had me worried. Had I in fact aided in spreading a scam ? Could people be signing up and giving their personal information hoping to cash out some easy money but in fact this is an elaborate identity scam or what if this is a Ponzi scheme ?
M4JAM as a Scam
So I did some background checking and this is what I discovered:
I asked Warren Venter, Chief Operation Officer at M4JAM, about the system being a “Ponzi” scheme where money is taken from the first job to pay for the next jobber. Warren confirms that they get paid upfront by the brand for the jobs and therefore there is money in the system to pay everyone at any stage. Warren also states that big brands would not risk their reputation by joining a system that they didn’t do their due-diligence on.
Warren confirmed that there was a 746% increase in sign-ons compared to the week before the launch which clearly shows excitement and appetite for the platform. As more stories spread via Social Media spread so too does the confidence grows.
The M4JAM system is aimed at providing people with additional income by completing 5 minutes jobs wherever they happen to be, however there is nothing stopping someone getting into their car and grabbing jobs around them. When those jobs are complete, they could drive to the next destination and grab those jobs too. In fact, Warren shared that some long-range truck drivers are joining the system so that they could complete jobs in the towns they drive through during their off time !
To keep everyone honest, the system will allow a jobber to keep the job for up to 6 hours before putting it back into the pool. This way it prevents people from hording jobs which they can not complete.
M4JAM launched officially at 8am on the 11th August 2014 and by 6:30pm that same day 6782 jobs were grabbed which, working on the average of R15 per job, translates to R101,730 worth of revenue earned. Not a shabby amount !
Incidentally, as a by-product of M4JAM, there are at least 6782 MTN Money Wallet accounts that have been opened. As the system grows, MTN should be creating awareness around their Wallet product.
The Proof is in the Wallet !
So to prove to myself and to the readers that M4JAM is legit and works, I signed up to see how easy it is to earn some extra money and what it really entails.
Here is how i earned R25 for a couple of seconds worth of “work”:
To to all the sceptics out there, give it a shot. It costs you nothing. Just a bit of time and if sign up whilst using free Wi-Fi, it doesn’t even cost you any data.
You too will be gobsmacked at how simple it is to earn such easy money for doing something very simple. Oh and very legal too.
If you are still sceptical GOOD. Stand by and watch the rest of us pick up all the jobs and cash out !
*headline images by Shutterstock.com