Absa introduces QR payments
Big-four bank Absa has introduced QR payments following "drastic shifts in banking behaviour towards digital banking and e-commerce".
In a statement, the bank says it has taken its latest step towards expanding its ever-growing digital payments universe with the launch of QR payments.
“With our innovative QR payments functionality, which is free of charge, Absa customers registered on the Absa Mobile Banking App can now scan any QR code in the market, such as Zapper, SnapScan and Pay@, and Absa will process payments securely, without the need to download any other service provider apps,” says Cowyk Fox, managing executive for everyday banking at Absa Retail and Business Bank.
Absa says all payment processing will be subject to customer authentication using their Absa Banking App PIN code to ensure transactions are secure.
“As a sign of our confidence in the security of Absa’s QR payments, customers automatically have the security of Absa’s market-first free digital fraud warranty, which all customers who make use of the Absa Mobile Banking App have access to,” Fox says.
“Absa customers already have access to the recently launched Apple Pay, Garmin Pay and Fitbit Pay, as well as Samsung Pay, which was rolled out in 2018. Our very own virtual card has also been available since May 2020 and countless customers have already taken advantage of the convenience of retrieving their full card details and making e-commerce payments without their actual plastic cards.”
The bank says as the country deals with the pandemic and heightened hygiene and health requirements, a record number of customers have adopted and embraced transacting digitally.
Absa says in 2020, it witnessed a 200% increase in contactless payments, while e-commerce levels doubled.
“Against this background, Absa continuously looks to improve the payment experience for our customers and we constantly consider various technologies as they become available to the market. Customers can look forward to more exciting announcements soon,” says Fox.