Credit card giant Mastercard has teamed up with mobile-first solution fintech Entersekt to enable Nedbank’s customers to make QR payments to Masterpass, Pay@, SnapScan, and Zapper merchants and bills through the Nedbank Money App.
The companies claim that this all-in-one, scan-to-pay feature is a market-first development and means that Nedbank Money users need just one smartphone app for all major domestic scan-to-pay services, representing a combined footprint of more than 100,000 retail points of presence and 800 billers. Through the integration, Entersekt’s payments enablement product, Connekt, enables all the scan-to-pay services in the South Africa bank’s app.
Mark Elliott, the Division President at Mastercard Southern Africa, reported the enablement of Masterpass scan-to-pay capability within the Nedbank application represents yet another important milestone in the digital payment “convergence journey.” He also reported that the milestone also furthers Mastercard’s goal of driving interoperability across the payments ecosystem, so that consumers can pay securely and conveniently anywhere and with any card from a single app through their smartphones. Chris Wood, Card Issuing and Payments Executive at Nedbank, then stated:
“Nedbank is incredibly proud to be leading the way in the digitization of payments after having originally launched the Masterpass payments ecosystem in 2015.”
Schalk Nolte, CEO of Entersekt, noted that Nedbank’s incorporation of scan-to-pay into its banking app is evidence of its understanding that effortless accessibility, underwritten by established client relationships, represents an important advantage for any bank that wants to achieve a greater share of the booming global market in mobile payments. The companies added the feature has been rolled out to users of the Nedbank Money app following an automatic update.