Stitch clients will now be able to offer their customers the option to pay via Capitec Pay at checkout, alongside existing Stitch payment methods.

What is Capitec Pay?

Capitec recently launched Capitec Pay as part of an initial push in South Africa towards open banking. With Capitec Pay, Capitec users can make payments using their mobile number or ID number. Through Stitch, Capitec users can choose Capitec Pay as a payment method at checkout, and approve payment in their Capitec app.

How does Capitec Pay work?

Funds are transferred directly from the customer’s Capitec bank account, and the merchant is notified to release the goods or services, or credit the user’s account, as soon as the authentication of a transaction is complete. For merchants, some of the benefits associated with Capitec Pay include reduced operational costs and processing times, as well as reduced risk of fraudulent payments relative to cards.

For customers, Capitec Pay means the ability to pay for products and services quickly and easily without the need to enter bank details. They simply:

1. Choose Capitec Pay at checkout 
2. Enter their mobile or ID number
3. Receive a push notification to approve the payment in their Capitec app

How can I offer access to Capitec Pay for my customers?

For existing Stitch clients, no additional deep development work will be necessary, and businesses won’t need to develop a direct bank integration. For new Stitch customers, Capitec Pay can easily be combined with other payment methods such as Instant EFT, Direct Deposit and CashPay via a single integration, with seamless reconciliation across methods.