Financial Data
Updated 29 Jan 2020


Retail & Wholesale | 11 views |

Operating in a retail environment brings with it its own unique risks. Bryan Verpoort, Head of Corporate & Business Insurance advises on what retail business owners should consider and how to mitigate the risks involved.

How to access more customers by offering more ways to pay

As a small retail business you might have been limited to only accepting cash-based payments or bank transfers, which narrows your target market.

Related: How mobile payments can boost your business

Point-of-sale (POS) devices might have been too expensive as a payment option for services rendered at customer sites, but as your business grows the lack thereof might be limiting your sales.

Mobile payment without the high cost

Through our innovative solutions, your business can broaden the customer spectrum that you service, opening up new growth opportunities.

We recognised the urgent need to provide a real-time payment solution that offers a secure way of collecting payments, which is why SnapScan was specifically developed for you in mind.                                                                                          

SnapScan is geared to equip small businesses with a quick, easy, affordable and secure payment solution that is driven by Quick Read (QR) technology. Payment -methods _electrical -payment

It provides businesses with cost-effective hardware, in this case, software in the form of a unique QR code that’s printed on paper. Now, instead of turning customers away due to a lack of a POS system, business owners can in essence accept cards.

Selling made simple

The process is quite simple. Customers scan the unique QR code and confirm the transaction with their user-selected PIN. The merchant immediately receives confirmation via SMS.

Related: How cashless payment solutions can lessen risks over the festive period

Customers can link up to three payment cards on their phones and label them as Business or Personal. This allows them to simply pick the card that they want to use when making payment. With the SMS notification service as proof of payment, the business can be sure that the payment is legitimate. 

SnapScan is also bank agnostic, meaning that you don’t have to be a Standard Bank Business Banking customer to utilise the service.  

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