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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.

SnapScan doesn’t really need an introduction. Users marry their credit cards with the app and can then shop anywhere with a SnapScan QR-code

Yes! SnapScan is safe to use on multiple levels: The app requires a PIN to be entered before any transaction can be completed. This prevents anyone who has your phone from making transactions, as your PIN should be known only to you.  Your card details are also encrypted and stored safely and securely on your phone. Even if your phone is stolen, nobody will be able to see or access your card details.

SnapScan is a new innovative mobile payment App on a smartphone. It provides a cashless, card-less payment app that consumers can use at thousands of merchants across South Africa or to make donations to CANSA.  It can be used for customers of any bank in South Africa (not just Standard Bank).

Developer of mobile payment application designed to help users to make quick and easy payment through their mobile phones. The company's application services include easy sign up, affordable, convenient, easy payment reconciliation and simple payment notification, enabling users to make making easy payments for purchasing goods and services online.

SnapScan General Information

Zapper is clearly less enthused and has pulled out of the Speedpoint terminals completely, which comes into effect from October 25, and CEO Brett White made it clear in a statement to Business Insider SA that the relationship hadn’t panned out well thus far:

The mobile payment industry in South Africa is expected to record a CAGR of 12.9% to reach US$ 29,424.3 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 12.6% during 2018-2025.This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in South Africa. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks.

The mobile payment industry in South Africa is expected to record a CAGR of 12.9% to reach US$ 29,424.3 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 12.6% during 2018-2025.This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in South Africa. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks. It details growth dynamics in 45+ market segments (600+ KPIs) across mobile commerce, mobile P2P transfer (domestic and international remittance), mobile lending, and a range of other payment avenues in South Africa.

Let your shoppers scan to pay for goods or services purchased on your website.

The overall benefits for businesses and customers include: Safety and security: Customers can pay via their mobile phone and retailers can rest assured knowing that extensive security measures are in place. Speed: It’s fast, as customers simply need to scan the display code at a till point. Convenience: There is no need to carry cash around and paying via SnapScan offers a frictionless experience. Cashless: As customers won’t be using cash, it is easier for businesses to authenticate and formalise transactions. SnapScan is a mobile payments solution with a variety of payment options available for retailers.

Instead of just being able to pay scanning a QR code, customers can simply tap a button in the app to initiate the payments transaction.

In the first case, a merchant is given a designated QR code by their acquirer that is linked to their bank account in the backend. Customers must scan the QR code using the camera on their smart device and then enter the amount to be paid and their individual PIN in order to complete the transaction. An example of this method is SnapScan.

QR code – Support for QR code payments from all major platforms, including Snapscan and Zapper.

South Africa“South Africa was an early adopter of QR code-based payments,” said Gabriel Swanepoel, vice president of business integration at Mastercard Southern Africa. “The first QR code app was introduced by SnapScan, a subsidiary of Standard Bank, in 2013.”QR codes are a prevalent method of payment in South Africa.

South Africa Market Share of Key Mobile Wallet CompaniesProvides market share by key players in value terms.South Africa Market Share by Mobile Payment Technology: Provides market share by key mobile payment technologies –SMS / USSD,NFC,Code Based, andWeb Based.South Africa Mobile Proximity Payment Market Size and ForecastMobile payment and mobile wallet market size and forecast by mobile proximity payment

Customers wanting a magazine who have no cash on them can download a free app [many people in South Africa use SnapScan daily for other transactions so already have the app], that allows them to scan the vendor’s QR code to pay for the magazine.

There are signs that South Africa’s transition to a cashless environment could happen quickly. Locally, QR code app-based payment services such as Zapper and SnapScan already have over 50 000 merchants across South Africa. In addition, Samsung Pay launched in August 2018.