DURBAN – Absa is expanding its digital payment options with the introduction of QR Payments.
Absa Retail managing executive: everyday banking Cowyk Fox said: “With our QR Payments functionality, which is free of charge, Absa customers registered on the Absa Mobile Banking App can now scan any QR code in the market and Absa will process payments, without the need to download any other service provider apps".
According to the bank, all payments will have to be authenticated by customers using their Absa Banking App PIN code.
Fox said: “Customers will have the security of Absa’s free digital fraud warranty, which all customers who make use of the Absa Mobile Banking App have access to".
Absa said last year, the bank witnessed a 200 percent increase in contactless payments, while e-commerce levels doubled.
The bank said its customers also have access to other digital payment options such as the recently launched Apple Pay, Garmin Pay, and Fitbit Pay, as well as Samsung Pay.
The bank also launched its virtual card in 2020, which customers can use to retrieve their full card details and make commerce payments.
“Absa continuously looks to improve the payment experience for our customers, and we constantly consider various technologies as they become available to the market. Customers can look forward to more exciting announcements soon,” Fox said.
Absa joins Nedbank in the introduction of the QR payments system.
Last month, Nedbank announced that its customers could withdraw cash without touching the ATM using the QR code.
Nedbank also integrated the technology into its Money App.
BUSINESS REPORT ONLINE