{"id":266431,"date":"2018-08-21T12:30:26","date_gmt":"2018-08-21T10:30:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=266431"},"modified":"2018-08-23T10:26:21","modified_gmt":"2018-08-23T08:26:21","slug":"this-is-how-many-customers-are-joining-capitec-every-month","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/266431\/this-is-how-many-customers-are-joining-capitec-every-month\/","title":{"rendered":"This is how many customers are joining Capitec every month"},"content":{"rendered":"

Despite a turbulent start to the year, Capitec is still proving to be an incredibly popular option for South Africans, with the bank recently expanding its range of financial services products in May, with the launch of Capitec Insure.<\/a><\/strong><\/p>\n

Featuring paperless applications, claims are paid out within four hours, and cover for up to 22 lives on one policy. At the same time, the\u00a0bank launched a number of unique funeral products which range from R10,000 to R100,000.<\/p>\n

“We designed the funeral plan to be the most affordable, easiest to use and straightforward product on the market and based it on the same principles that our business was founded on 17 years ago \u2013 simplicity, transparency and affordability,” said Gerrie Fourie, CEO of Capitec Bank at the product’s launch.<\/p>\n

These products follow the\u00a0introduction of a credit card<\/a><\/strong>, which when combined\u00a0with a number of popular features such as nominal transaction rates has\u00a0lead to the bank being consistently voted<\/a> <\/strong>as one of the best in the world.<\/p>\n

This is has been reflected by the number of customers that are joining the bank each month, said\u00a0Charl Nel, head of communications at Capitec, who noted that the bank is currently adding 100,000 on average per month<\/strong>.<\/p>\n

Samsung Pay\u00a0<\/strong><\/p>\n

In addition to the introduction of a number of products and services over the last year, Nel has confirmed that Capitec will also be introducing Samsung Pay functionality.<\/p>\n

Already confirmed by Absa and Standard Bank,\u00a0Samsung Pay is an application which lets you store bank card details on a device, and make purchases by tapping or \u2018swiping\u2019 your smartphone rather than with a physical bank card.<\/p>\n

The app lets you make payments via Magnetic Secure Transmission, which mimics the magnetic stripe on the back of your card.<\/p>\n

It can also use NFC technology in contactless cards for \u2018tap-and-go\u2019 payments.<\/p>\n

However Nel indicated that while\u00a0Capitec clients will ‘most certainly’ be able to use this feature – because the technology is available only to a few<\/strong> high-end Samsung handsets in general \u2013 this represents a very small portion of the bank’s clientele.<\/p>\n

“(This) is why Capitec will continue to focus on Masterpass as a payment wallet, as it has a wider appeal to clients and is available on various smartphone handsets. Masterpass is a secure digital wallet which simplifies the payment process by storing a client\u2019s payment information in one place,” he said.<\/p>\n

\n

Read:\u00a0Capitec says it didn\u2019t pay Intellidex for Viceroy report<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a turbulent start to the year after being targeted by short-sellers Viceroy Research, Capitec is still proving to be an incredibly popular option for South Africans.<\/p>\n","protected":false},"author":10,"featured_media":151076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[1798,26],"class_list":["post-266431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-capitec","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/266431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=266431"}],"version-history":[{"count":12,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/266431\/revisions"}],"predecessor-version":[{"id":266967,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/266431\/revisions\/266967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/151076"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=266431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=266431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=266431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}