KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES
Category Banking
SUB CATEGORIES General | 

FNB rolls out QR code payments on all Speedpoint devices

01 October 2020 FNB

More SA merchants will now accept payments without contact with customers

Consumers shopping across the country will now be able to make QR code payments (Scan to Pay) on all FNB’s standalone point of sale terminals (Speedpoint® devices).

FNB’s market leader position, digital footprint and scale will ensure that a significant number of consumers and merchants benefit from this solution.

This forms part of the Bank’s ongoing expansion of its payments ecosystem and integrated App-based QR code, aimed at accelerating the adoption of digital payment solutions in the country.

Thokozani Dlamini, FNB Merchant Services CEO, says given the challenges we are currently facing globally due to the Covid-19 pandemic, it was essential that we fast-track the rollout of QR code payments for enhanced convenience and safety. QR Code acceptance forms part of our overall contactless payment solutions providing customers with convenient and choice when making payment via FNB Speedpoint® devices at merchants throughout South Africa. Any compatible QR Code payments app can be used to Scan to Pay, a convenient and safe alternative to a bank card.

“Added to the cost effective, convenient and efficient payment process of contactless payments, both consumers and merchants will have peace of mind from a safety perspective, as physical contact will be limited. Moreover, this solution will help us in driving wider financial inclusion and acceptance – helping consumers move away from cash,” adds Dlamini.

Scan to Pay is powered by Masterpass, Mastercard’s digital payment service, which is interoperable with almost every major domestic QR Code payment service. Therefore, consumers will be able to use any compatible mobile QR Code scanning App on FNB Speedpoint® devices including FNB Scan to Pay, Snapscan and Zapper etc.

The Bank has seen significant growth in consumers adopting Scan to Pay on the FNB App due to its compatibility with almost every payment QR Code provider in South Africa. FNB customers also enjoy a wide range of convenient Digital Payment alternatives such as FNB Pay on the FNB App, Samsung Pay, FitBit Pay and Garmin Pay which can be used at any contactless enabled POS device.

For added convenience when using Scan to Pay, FNB customers can simply enable the FNB App ‘Scan to Pay’ widget or shortcut on their smartphones (for a step-by-step guide see; fnb.co.za/For Me/Digital Payment Solutions). Alternatively, they can select the Payments option on the FNB App - login and select ‘Scan to Pay’.

Quick Polls

QUESTION

Which of the following factors will make the biggest difference to the profitability of a short-term insurance brokerage over the next five years?

ANSWER

Implementing tech-backed distribution platforms
Diversifying into specialist risk management & risk advisory services
Renewing focus on the broker-client relationships
fanews magazine
FAnews October 2020 Get the latest issue of FAnews

This month's headlines

Transformation trends - Tough commission procurement rule could dent insurers’ B-BBEE scorecards
Business interruption losses… the uninsurable
Are annuities tailor-made for today’s investors?
Reframing clients’ notions about retirement
In search of sustainable drought solutions
From risk to resilience - What the latest mindshift means for insurers
Subscribe now