Subscribe

FNB expands ‘scan to pay’ capability

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 17 Dec 2019

First National Bank (FNB) has added more QR code payment channels to its banking app for its customers in SA.

This after the bank introduced the QR code payment function earlier this year, allowing consumers and sole proprietor businesses to perform and accept QR code payments via the app.

In a statement, FNB says consumers shopping or filling up at Engen service stations across the country will now be able to make QR code payments or scan to pay.

This will be the first phase of the rollout, with further QR code payment channels soon to be introduced at major retailers across the country, says the bank.

Thokozani Dlamini, FNB Merchant Services CEO says the ability to process convenient, efficient and safer payments in a cost-effective manner continues to be essential for businesses. Digital payment solutions not only lower the cost of usage for merchants but drive wider financial inclusion and acceptance – helping consumers move away from cash.

“We are fortunate in that our market leader position and continued digitisation of our banking platform enables us to benefit from scale. Consequently, we are able to reach a significant number of merchants in SA, while providing them with industry leading and affordable banking solutions.

“This coupled with our initial partnership with Engen, which has the largest service station footprint in South Africa, will go a long way in helping us to accelerate the adoption of digital payment solutions in the country,” notes Dlamini.

According to the bank, this new payment option is powered by Masterpass, Mastercard’s digital payment service, which is interoperable with most major domestic QR payments services.

Since launching the integrated QR code payments solution on its banking app, FNB says it has seen remarkable growth with FNB-banked merchants, who actively use ‘QR speedpoint’.

From a consumer perspective, ‘scan to pay’ usage has seen double digit month-on-month growth since its launch on the FNB app. This complements a wide range of convenient digital payment alternatives such as FNB Pay on the FNB app, Samsung Pay, FitBit Pay and Garmin Pay.

“As we approach the festive season, we expect a significant number of consumers to make use of QR code payments when shopping and filling up at Engen. The customer will simply select the scan to pay option on the point-of-sale device and scan the QR code to make payment.”

Dlamini concludes: “We continuously strive to improve our payments solutions and enhance our customers experience by providing them a range of solutions that are secure and convenient when making purchases.”

Share