Absa has launched a new feature on its mobile app called QR Payments, allowing customers to scan codes from various QR code providers to make payments. Absa managing executive for everyday banking Cowyk Fox said the free functionality is able to securely process payments with any QR code in the market, including those from Zapper, SnapScan, Pay@, and Absa.
This negates the need to download individual service provider apps, Fox said. In addition to making QR payments more seamless, all payments processing will require authentication from the customer via their Absa banking app PIN code.
“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 added.
Absa said a record number of its customers had adopted and embraced transacting digitally due to the health precautions taken by people as a result of the COVID-19 pandemic.
In 2020, the bank recorded a 200% increase in contactless payments, while e-commerce levels doubled.
Other digital payment additions
Absa said the addition of QR Payments underscored its strategic ambition to be recognised as the leader in digital payment propositions to both consumers and businesses in South Africa.
“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,” Fox said.
“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,” he added.
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Source: mybroadband
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