A service, not dissimilar to Apple Pay, which allows people to make payments with their mobile phone by simply taking a photo of a QR code and punching in the amount they want to pay.
Less than a year after launch, the system was being used by 12,000 small businesses. There is huge potential for this service: There is an appetite for convenience in payments and there is an opportunity to leverage on Africa being mobile first. They have the potential to expand into other markets and maybe even compete with Apple Pay and Google Wallet.
Imagine that you are at a coffee shop or restaurant, your meal is over, it is time to pay for your bill. You pull out your phone, scan a barcode via an app, enter a pin, and the bill is settled in seconds. Well, this is now possible.
Standard Bank have an app out there that is capable of allowing consumers to pay for purchases through a combination of QR code and PIN, with their smartphones.
How to sign up:
- Go to your app store, download the SnapScan app (Available on iTunes, Google Play, andBlackberry World)
- Enter your email address
- Register (a 30 second process of entering your email address and name)
- Scan your card – your phone will take a picture of the card and picks up the card number (accepts MasterCard & VISA)
- Choose a PIN
- Find a merchant to use it at
The app can search using your phones GPS to find the closest merchants that are signed up with SnapScan, or you can search by area.
SnapScan can be used with any MasterCard and VISA credit or cheque card, as well as selected debit cards, issued by any bank in South Africa. The card details are encrypted and only stored on your phone.
Powered by Standard Bank, SnapScan do not charge any fees for this service.
(Courtesy of :edition.cnn.com/2014/12/24/tech/africa-tech-startups-2014/,http://prepaideasy.tutuka.com/category/prepaid-innovation/)