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Business Reporter
STANBIC Bank Zimbabwe has launched a technologically advanced application that allows account holders to pay bills and make instore purchases on their phone using QR code scanning technology.

The App named “SlydePay” is a platform which uses the wallet technology to connect one’s bank account to the payment platform, allowing customers to click on an already listed biller and instantly process payments in real time.

The App can be downloaded online and uses the QR Code technology that enables registered shop owners to quickly and instantaneously receive payments without contact.

Customers do not have to use their banks cards if they are in an outlet that has the Slydepay QR code displayed at the pay point, said the bank in a latest update.

Mr Patson Mahatchi, Stanbic’s head of personal and business banking, said the financial institution is paying attention to consumer trends, which include the constant use of the smartphone.

“Our strategy as a bank is based on customer centricity, therefore, we are taking banking to where the customers are instead of asking them to come to the branch like in the old days,” he said.

“SlydePay is a modern technology, which allows our customers quick and easy solutions to daily issues such as long queues, slow service in retail outlets amongst many others.

“For example, the QR code technology offered by SlydePay allows a customer to simply scan on a merchant’s code in order to make a payment at a retail outlet and this process takes less than 7 seconds to complete the transaction.

“We are really excited about the QR code no contact functionality, especially in this day where we are trying to find ways to minimise contact to avoid the spread of Covid-19.”

The bank said the App is also equipped with biometric security technology, which makes it accessible to the owner of the smartphone or tablet only, even in cases where the device is hacked or stolen unauthorised individuals will not have access to the App.