Settle Your Bill With No Card or Cash
Introducing SnapScan, a locally developed cash and card less payment system that allows clients from any bank to make payments safely, both in-store or online.
Standard Bank has recently launched SnapScan, after a lengthy pilot programme. SnapScan is a safe and secure Smartphone based payments system that doesn’t require the carrying of cash or your bank card.
Download the app and start making payments via your Smartphone. Available to all banking customers, not only Standard Bank clients, SnapScan requires you to provide your credit or cheque card number. This information is securely stored using the latest encryption technologies. Please note, no pin is required, credit or cheque card numbers are clearly visible on the front of your bank card.
When it comes to paying for your goods, users simply scan the Merchant’s QR code and enter the amount owed. Once the payment has been successful, the merchant receives an SMS confirming the purchase. Standard Bank charges a flat 3% fee, per transaction.
The SnapScan service eliminates the need for expensive point-of-sales equipment, opening the doors for smaller vendors, that can’t necessarily afford the traditional payment terminals to be able to accept other forms of payments. Merchants don’t need bank accounts and they have the option of receiving their payments in the form of Standard Bank’s Instant Money voucher that can be redeemed at a number of Spar stores countrywide or Standard Bank ATMs.
Standard Bank is aiming to roll out the new platform to thousands of merchants, and the bank is expecting a large-scale uptake of the platform.
SnapScan was developed by Stellenbosch-based FireID. A company made up of people with a security and crypto background.