On 21st May 2014, Standard Bank announced the launch of mobile payment app SnapScan. This is the bank’s first mobile payments offering that enables South African consumers to pay for their purchases with their smartphones via a combination of a QR code and a secure PIN number.
“We are excited to bring such innovative solutions to all South Africans. We created this app together with Stellenbosch-based IT agency, FireID in 2013 and it went on to win the 2013 MTN Business’ App of the year award,” stated Vuyo Mpako, Standard Bank’s Head of Innovation and Channel Design, in a press release. “After extensive beta testing, we’re ready to take this to market,” he added.
- This app is now available to all consumers with a smartphone, basically you do not have to be an existing Standard Bank user to use SnapScan.
- The transactions are free to all SnapScan users and the payment process is extrenely simple.
- Once the app is downloaded and you have registered your details, payment is done by scanning the merchants’ unique barcode and entering the amount due with confirmation of your unique PIN number.
- The merchant will then receive their payment with a confirmation SMS. You literally ‘snap, pay and go,’ says the company.
How to utilizee the app:
- Scan the merchant’s barcode
- Type in the transaction amount
- Confirm the transaction with your unique PIN number
“Looking at consumer behaviour and trends, phones are attached to people or the converse for argument’s sake. There are also apps for everything from smart diaries to smart banking. It only made sense to give consumers access to their wallets in safe and secure way on a device that basically never leaves their side,” stated Mr Mpako, in the same release. “Our business strategy is all around customer-centricity – to craft solutions that will empower and enrich customers, this app has been designed with the customer in mind. The app is convenient, safe and easy to use.”
At the moment, consumers can transact utilizing the app at around 10 000 merchants across South Africa such as the house of Machines in Cape Town and Motherland in Johannesburg.
The app’s security features have been designed similarly to that of the user’s day-to-day banking through the inclusion of a user-selected PIN. The user’s card details are also saved on his phone and not backed up on an external server.
At the moment, SnapScan is available to Android, Blackberry and iOS smartphone owners.