While some see traditional banks and fintechs as potentially opposite sides of the industry, Capitec and Pay@ have a shared passion for bringing innovative financial solutions to South Africans.
The result is a powerful collaboration that has led to numerous convenient, efficient, and effortless payment capabilities that enable significant benefits to bill issuers and clients alike.
As a one-stop-shop platform, Pay@ has become a favoured fintech service provider to integrate into multiple Capitec services.
One of the most successful collaborations is Capitec Pay Bills, where Pay@ is integrated into the Capitec banking app. This provides billers and merchants with the ability to have their business name shown under the Pay Bills section. Clients simply enter their account number to view the relevant bill in-app. With a simple approval process by the customer, the payment is finalised and the biller or merchant is notified in real-time.
Another collaboration involved Capitec Pay. Capitec Pay is an open banking payment method that allows clients to make secure digital payments directly from their Capitec banking accounts. Pay@ was the first payment provider to integrate into Capitec Pay. Being the first third-party payment processor meant that Pay@ played a significant role in testing and shaping Capitec Pay into the product it is today.
Over and above these collaborations, Capitec clients can access a wide variety of Capitec and Pay@-based services, such as:
- Real-time notifications: After a biller is set up as a registered beneficiary, Pay@ can share API-based payment notifications with the biller.
- Capitec Flexi Voucher: Capitec Flexi Voucher is enabled as a payment method on Pay@’s hosted payment page; Payat.io, which customers can access to easily pay billers and merchants.
- Payment links for failed debit orders: Pay@ developed the ability to send out payment links to clients whose debit orders failed so that these clients have the ability to make payments in respect of the failed debit order via alternative payment options. Billers making use of Capitec Business debit order capabilities can get access to this exciting payment links capability.
- Capitec prompting: Pay@ developed a solution in partnership with Capitec whereby Capitec clients are notified of their bills that are due and need to be paid. The client has the ability to click on the notification in their Capitec app and make the payment using Capitec Pay Bills.
“The integration of Pay@ into our systems at Capitec aligns with our fundamentals of simplicity and affordability by allowing clients to pay their bills in a safe and secure manner while giving them access to their bills 24/7 from their Capitec app. We have seen a monthly improvement in our digital transactions, meaning clients are moving away from cash to a safer cashless alternative. This is just one of the ways we are saving our clients’ time and money,” Capitec says.
Innovative collaborations such as these paint a bright future for the world of fintech in South Africa. The successes achieved to date highlight the efficacy of the Pay@ platform and its seamless integration with other financial institutions. Looking ahead, Pay@ remains committed to staying at the forefront of fintech by partnering with forward-looking financial institutions to deliver even more efficient payment solutions.