Capitec has launched QR code payment functionality in its new app, which it claims is the only ‘Scan to Pay’ offering from a South African bank that can be used across all major QR code-based payment providers including SnapScan and Zapper.
The new addition was fast-tracked during the pandemic as it allows clients to pay without touching any surface other than their own phone, the bank said.
Payments can be made at till points, restaurants, for parking and for online shopping – as vendors across the country adopt the technology, offering their clients a safer way to pay, it said.
“With multiple QR payment providers available to vendors, consumers have to date needed to load numerous payment apps on their phone.
“The Capitec Masterpass app allowed users to pay on SnapScan and Zapper until recently, however these brands have since decided to end their agreement with Mastercard, limiting interoperability. The new Capitec app solves this by allowing interoperability across all major payment platforms so you do not need any additional apps for QR payments anymore.”
Francois Viviers, executive of Marketing and Communications at Capitec said that the offering is part of the bank’s continued drive for simplicity.
“We’re offering our clients a simplified payment process that doesn’t require switching between apps based on the payment provider the vendor has selected.
“Once loaded under favourites on our banking app, clients can simply tap “scan to pay”, scan the QR code and then safely confirm the purchase with either their fingerprint or banking PIN, regardless of the payment provider.”
Viviers said the surge in QR code-based payments is also seen in South Africa with more vendors making it available and increasingly more people using it when they experience how quick and easy it is to use.
“Not only is this one of the most convenient ways to pay, but because it limits physical contact, it is also one of the safest. We believe this will become the preferred way to pay for most clients and businesses as it will be used to pay accounts, invoices or people directly in the near future.”
The bank also recently added:
- A new virtual debit card;
- Easy Equities, an investment platform, to allow clients to invest in shares on both the South African and American stock exchanges directly from their app;
- The option for free in-app transaction notifications that will save clients on SMS notification costs.