Living in the digital era has created a number of new opportunities for corporations to improve their operation’s efficiency. The banking sector has also improved operations significantly with the introduction of a range of technological advancements.
Through digital banking, South African Bank Capitec continues to offer simplified banking solutions. With the rising popularity of smartphones in South Africa and the African continent in general, the uptake of mobile banking has been steadily rising.
Through its digital banking solutions, as a Capitec customer, you can buy electricity for yourself or friends with the Capitec App.
What are some of the advantages of mobile banking?
Mobile banking is packed with features, allowing you to access a range of banking features. Your banking hours are no longer limited.
You can use your app to access your account and perform almost all activities your bank provides.
Microsoft founder Bill Gates has observed that “digital banking will give the poor more control over their assets and help them transform their lives and by 2030, 2 billion people who don’t have a bank account today will be storing money and making payment on their phones”.
In a country like South Africa, where some researchers say that the unbanked population may be as high as 67%, mobile banking is set to take off in a major way in the coming years.
In May 2016, Columinate released the results of its latest Internet Banking SITEisfaction. The survey found that a lack of trust remains the top reason why banked and connected customers do not make use of internet banking. Banks like Capitec have a lot of work of do in terms of educating the general population about the merits of using banking apps.
The survey also found that 95% of mobile banking users use it for general account management, 92% make various types of payments, 90% do non-traditional transactions such as buying airtime, data, electricity or ordering services.
The Capitec App is free to download and free to use. It’s convenient to use and has added security features. You can also buy electricity for yourself or friends with the Capitec App by simply downloading the app and having your meter number on-hand.