Bank Better, Live Better
pay without cash or cards25/06/2018
Bank cards took away the need to carry cash. Now, digital wallets are taking away the need to carry cards. These virtual wallets are making payments much easier, quicker and safer for consumers around the world.
The convenience is real
According to data released at the Seamless Africa Conference this year, South Africans are increasingly using digital wallets as a payment method. Over 50% of those surveyed said they leave the house at least monthly without their wallets, preferring to do payments on their cellphone. A further 85% used their cellphones to make a purchase over the past year.
This highlights the growing popularity of using cellphones as an all-in-one device that ultimately makes life easier.
While many digital wallets support online money transfers, most still lack the convenience of in-store payments. Capitec MasterpassTM stores all your payment information in one convenient and secure location, so you don’t need any cash or cards when making purchases online, in-store and even at markets and festivals. Just use your phone’s camera and QR code to scan and pay.
- A QR code is similar to a barcode which you can scan using your smartphone.
How do QR code payments work?
With Masterpass you can scan to pay wherever you see a SnapScan, ZapperTM or Masterpass QR code, so you only need one app. Simply open the Capitec Masterpass app on your phone, scan the QR code and enter the amount. Lastly, enter your bank PIN and you’re on your way. It’s quicker than paying with a card, and there’s no chance of card skimming. What’s more, there are no fees or charges when paying with Capitec Masterpass.
This type of cashless payment is becoming increasingly popular at places where you would normally need cash, such as festivals, markets and pop-up shops. You can even make DStv, SABC TV licence and other payments simply by scanning the QR code on the account.
Ready to go cardless?
- Download the Capitec Masterpass app from your Android or iOS app store
- Load your Capitec cards (the wallet can take up to 5 different debit or credit cards)
- Choose a Masterpass profile password (used only when editing profile information)
- When you’re shopping in-store or online, simply scan and pay
To learn more about Capitec Masterpass, click here.
you may also like...
do you have lazy money?
While most people work hard for their money, their money isn’t working for them. Right now, there’s R295 billion in lazy money in South Africa. Money that’s simply sitting in transactional accounts earning no interest. If that money earned just 4.75% interest, it would put over R14 billion extra into the pockets of South Africans each year.