Samsung Pay Expands to Capitec Bank in South Africa

Strategic Insights -

Samsung South Africa is pleased to announce the launch of Capitec on the Samsung Pay platform this July. The partnership brings the convenience of Samsung Pay to the bank's 18 million clients, allowing them to make cashless payments easily and securely. As a pioneering mobile payment solution, Samsung Pay has been growing in popularity, with a 158% increase in usage over the past six months.

Key Takeaways:

  • Samsung Pay is now available to Capitec Bank customers in South Africa, offering a secure and convenient mobile payment solution.
  • The partnership brings the total number of banks partnered with Samsung Pay to six, including Absa Bank, Standard Bank, FNB, Discovery Bank, Investec, and Nedbank Credit.
  • Capitec customers can load their bank cards onto Samsung Pay, allowing them to make payments with just a quick tap.
  • The promotion period for winning a Galaxy S21 FE smartphone and Galaxy Buds Live is between 5 July and 31 July 2022.
  • To enter the promotion, customers must install Samsung Pay, register, and make five transactions.
  • Samsung Pay is available for download on the Google Play store and the Galaxy Store, and is compatible with a wide range of Samsung devices, including smartphones and watches.

Statistics:

  • Samsung Pay has grown by 158% in usage over the past six months.
  • 18 million Capitec clients now have access to Samsung Pay.
  • Samsung Pay has partnered with six banks in South Africa, including Capitec Bank.
  • The promotion for winning a Galaxy S21 FE smartphone and Galaxy Buds Live is open to Capitec customers between 5 July and 31 July 2022.
  • Samsung Pay has a 297% acceptance rate based on local trials for compatible smartphones (NFC and MST).

Sources:

  • Samsung South Africa (no cited date)
  • Francois Viviers, group executive of Marketing and Communications
  • Justin Hume, Vice President: Mobile eXperience at Samsung South Africa