We are pleased to announce that you can now accept Capitec Pay payments from your customers through SiD. If you are an existing SiD merchant, you would have gotten an email from us with a form to complete so that we can enable the revolutionary payment method for you. Otherwise, you can sign up with SiD here to get started.
What is Capitec Pay?
The first of its kind in South Africa, Capitec Pay is an open banking payment method from Capitec Bank that aims to facilitate financial inclusion in South Africa. Through Capitec Pay, Capitec Bank account holders can make secure payments directly from their bank account via the Capitec App on their smartphone, without their bank card. All they need to identify themselves is their cell phone number, ID number or account number – no passwords or usernames are required.
How can online shoppers pay with Capitec Pay through SiD?
For online shoppers familiar with the ease and convenience of SiD, using Capitec Pay will be a seamless transition.
- When customers arrive at your checkout page, they simply select the SiD payment option.
- A prompt will appear, allowing them to choose Capitec Pay as their preferred bank.
- They will then enter their cell phone, ID number or account number as requested.
- On the Capitec App, they navigate to the Transact section and select Capitec Pay and authorise the payment.
- Upon completing the transaction, customers will return to your website with a payment confirmation.
- You will receive instant notification of the successful payment, enabling you to promptly fulfil their order or request.
Capitec Pay boasts a higher success rate compared to other payment methods due to its increased uptime from its bank-side monitoring. So, we are confident your business will benefit from this latest addition to our supported banks as it will help decrease cart abandonment.
If you have any queries, please reach out to our helpful Customer Services team via email.