Capitec launches new QR code payment functionality

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.

Globally, QR code-based payments have grown exponentially since the start of the Covid-19 pandemic. Before the pandemic, the growth was more fragmented with stronger uptake in certain countries such as China, but in most countries, it was often overshadowed by long-established payment methods, such as paying with debit or credit cards.

Francois Viviers, executive of marketing and communications at Capitec, says: "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."

The addition of QR code payments, which also works with Capitec’s new virtual card, is one of a range of additions announced recently by Capitec to its new banking app.