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Capitec and Entersekt launch P2P account-based payment method

Friday 11 February 2022 13:23 CET | News

South Africa-based fintech Entersekt has helped Capitec with the roll out of its peer-to-peer account-based payment method, which they claim is gaining traction in South Africa.

QR codes in particular are finding favour amongst major South African banks, according to the press release. Capitec’s most recent peer2peer (P2P) account-based payment offering is the latest that Entersekt has helped roll out, and Capitec says the payment method is likely to continue gaining traction both locally and abroad. 

Juniper Research expects almost a third of the world’s population, or 2.2 billion people, to adopt QR payments by 2025. The research company goes on to say that while the payment method is showing particularly strong growth in emerging markets, QR payments are also showing potential in other markets, including the US. 

Entersekt company officials stated that QR payments are ideal for the South African market. Local customers have shown they are eager to try new and more convenient payment methods, particularly if they are mobile-based and even more so if they are within their existing banking app, they added.

For more information about Entersekt, please check out the company profile in The Paypers Company Database.


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Keywords: mobile payments, QR code, QR payments, product launch, partnership, growth markets, Juniper Research
Categories: Payments & Commerce
Companies:
Countries: South Africa
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Payments & Commerce






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