Capitec - Afrikan Heroes

Capitec Bank Launches Prepaid Airtime and Data Offerings

September 27, 2022

Gerrie Fourie, chief executive officer of Capitec

South African digital banking group Capitec is disrupting the local prepaid market with the launch of Capitec Connect: a new prepaid solution for voice, data and SMS.

At R4.50 per 100 Megabytes or R45 per Gigabyte, Capitec Connect data is apparently on average 50% below the normal market price, and the rates remain flat whether clients buy small or large quantities. The data also never expires provided the SIM is used at least once in 6 months, which means that Capitec clients never lose what they paid for.

Gerrie Fourie, chief executive officer of Capitec, says, “South Africans have been complaining about the cost of data. It’s expensive and complicated. Bundle pricing, off-peak and peak rates, and the fact that your data expired are all things that make no sense. We’re changing this by giving our clients access to a mobile solution that is simpler to understand, much more affordable and can be recharged easily on our digital channels.”

The prepaid solution, a partnership with Cell C, seeks to bring digital inclusivity. “Our vision is to bring connectivity to all. We want to help create opportunities for everyone to be able to connect with access to affordable data and digital banking anywhere, anytime.” says Fourie.

“It is through partnerships such as the one between Capitec and Cell C that we can make a major difference in bridging the digital divide that still exists in our country and we’re very pleased to be part of the solution that enables South Africans to access a digital lifestyle that can truly change their world,” says Cell C chief executive officer, Douglas Craigie Stevenson.

Two of South Africa’s most common hashtags have long been #DataMustFall and #DataAsseblief, demonstrating the nation’s cry for the lowering of exorbitant data costs.

Regulations proposed in 2017 by ICASA and the National Consumer Commissioner advocated for data to remain valid for at least three years. These proposed regulations were later removed from the charter and replaced with more lenient provisions. Capitec is now leading the change by addressing this issue head-on.

Capitec Connect is a Mobile Virtual Network Operator (MVNO) service on the Cell C network. An MVNO provides cellular services to its clients without owning the network infrastructure. SIM cards are available to clients at all Capitec branches and clients can get up to 5 SIM cards linked to their profile, which makes it easy to give access to data and airtime to family members.

Once the SIM is activated, data, minutes, SMS’ and airtime can be topped up on the Capitec banking app, using *120*3279# or internet banking. Calls are charged at the low flat rate of 90c per minute, while SMSs cost only 25c. Airtime never expires, provided the SIM is used once every 6 months.

Fourie concludes, “It’s in our DNA to do what is best for our clients. We continue to change the game in banking by asking ‘why?’ and making it simple to help people live better. Now we believe we can also change the game in the way people connect.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

South Africa’s Capitec Bank Experiences Outages on its Mobile Apps.

August 6, 2022

Capitec South Africa has apologised to its customers for any inconveniences caused by ongoing outage issues on its mobile banking app and other digital services. The bank says that IT technicians are currently “doing everything they can” to repair the problem.
According to the banking group, some customers are experiencing issues on the mobile app, internet banking services and USSD services, however ATMs and bank cards are working as intended.

“Capitec Bank is still experiencing an infrastructure problem in the central servers that support our banking channels. We realise this is a terrible experience for our clients and apologise for the inconvenience if you have tried to make use of our banking app, USSD and internet banking in the last 24 hours,” said Capitec in a statement to IT News Africa.
“We are absolutely committed to resolving this as soon as possible and have a team of. technology experts correcting the problem

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

South Africa’s Capitec Launches New Free QR-Code Payments

December 3, 2021

Francois Viviers, Executive of Marketing and Communications at Capitec

As the adoption of digital banking gains ground across the continent, one of Africa’s largest digital banks Capitec is expanding its digital offering with the launch of Capitec Pay Me, a new solution enabling its clients to generate a personalised QR code on the bank’s app to receive payments immediately and securely from other Capitec clients.

Capitec already has over 9 million digital banking clients to leverage on, says its Group Executive of Marketing, Viviers, who explains that the solution will advance South Africa’s digital economy. “Carrying cash is expensive and unsafe. We’re giving our clients, who are from all different walks of life, a simpler and safer way to pay. You’ll no longer need cash to pay for small purchases at informal retailers, tip car guards or pay the person selling ice creams at the beach. It’s also an easy way to transfer money to family or friends and to split the bill at a restaurant. We’ve already seen over 2.5 million clients activate their unique QR code after quietly launching it on our app last week.”

Clients can activate and access their unique Pay Me QR code on the bank’s app or visit a branch to get a printed version supplied in a plastic pouch with a lanyard. To pay someone the person receiving money shows their QR code, while the other person simply selects ‘scan to pay’. The payment is verified using your app pin or biometrics making it very secure. There is no need to enter account or cell phone details, saving time and preventing errors.

“Just as we’ve made immediate payments affordable and accessible to all South Africans, we believe Pay Me is going to reduce South Africa’s need for cash,” Viviers says.

Pay Me provides a way for clients to track their spending. Transactions are listed on the track money feature on Capitec’s app. While smaller transactions may not feel like big spending, they quickly add up. Pay Me can show where even small amounts go each month.

“We don’t believe in innovation for innovation’s sake. Each new feature must put clients in better control of their financial lives,” Viviers concludes.

According to Capitec, the Pay Me app works in three simple steps:

Open the Capitec banking app, tap Transact and choose ‘Pay Me’ (to receive a payment) or Scan to Pay (to make a payment). Both these options can also be added to your favourites on your home screen.

When selecting ‘Pay Me’ you can choose

‘My QR’ which is your personal QR code. (No amount is specified, and the payment will automatically go into your main savings account) or

‘Custom QR’ which is created based on the amount you enter (you specify the amount to be paid by the other person and choose which account it should be paid into)

Show your ‘Pay Me’ QR code to the other Capitec client who will tap ‘Scan to pay’ and hold the phone over the screen displaying the QR code. The transfer of funds it processed instantly.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry