Before the Covid-19 pandemic, many physical-store merchants considered contactless payments to be a fad. Most did not see a reason to implement contactless systems. They were, after all, expensive to install and difficult to operate with little apparent return on the investment.
Stanbic Bank, recently launched a mobile app called, SlydePay, as a way to help combat the transmission of COVID-19 and increase its digital footprint.
Slydepay is a mobile application that simplifies your payments and helps you manage your finances.
The app acts as a wallet to connect one’s bank account and allows customers to click on already listed billers and instantly process payments in real-time. The app allows for QR Code payments that enable registered shop owners to receive payments quickly, no contact technology instantaneously.
QR codes generally work by allowing a consumer to scan a barcode using their mobile phone camera, which then opens a direct link between the customer and merchant. QR codes are being used for a range of situations, from buying coffee at local cafes, to getting price information on grocery store shelves or retailers and a relatively new trend is reading updated food menus at restaurants.
