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.
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