South Africans in these 16 jobs could now have a ticket to the UK

Businesstech – 7 March 2018

The UK has seen a dramatic fall in net-migration, driven equally by the increased number of EU citizens leaving the country after the Brexit referendum, and the decreased number of international immigrants moving to the UK.

At the same time unemployment in the UK is down to a 42-year low of 4.3%, making it difficult to find workers in most regions in the UK.

Businesses across Britain are now short of employees across many sectors, ranging from minimum wage workers to those in leadership positions. To try lure new hires, employers are having to increase wages.

According to Sable International emigration consultant, Philip Gamble, not only are there a wide range of positions open in the UK, but wages and salaries are on the up and it looks as if this is going to continue for the foreseeable future.

“If you’re a skilled individual interested in moving to the UK this should be music to your ears,” he said.

According to Gamble, the most popular visa that allows you to work and live in the UK is the Tier 2 (General) visa, often referred to as a UK work permit.

“This visa allows you to live and work in the UK for a maximum of five years and 14 days. To get one you’ll first need a job offer for a skilled position in the UK,” he said.

“The UK Shortage Occupation List details the jobs for which there is a shortage of workers in the UK.

“If your occupation is on the list, it will be far easier for you to find a job in the UK and to get a UK work permit.”

You can find the full Shortage Occupation list here, but Gamble set out some of the more popular occupations on the list:

IT and communications professionals
Programmers and software development professionals
Health professionals
High school teachers
Social workers
Dancers and choreographers
Graphic designers

The first step is to apply for a job in the UK, Gamble said.

“The company you are applying to will need to be a registered organisation, which means they are licensed to sponsor migrants for Tier 2 (General) visas. If you’re unsure of where to begin looking for a position, a quick search of relevant UK career sites will bring up a number of vacancies.

“Once you have gone through the job application process and have received a formal job offer, you can start the visa application process. Your employer will issue you with a Certificate of Sponsorship (COS) once you have been offered the position. You will use your unique COS number when applying for your Tier 2 (General) visa.”

Points-based visa system

The Tier 2 (General) visa works on a points-based system, and you will need to obtain 70 points to be eligible.

This is a breakdown of the required points:

30 points for having a valid job offer from a registered Tier 2 sponsor (Certificate of Sponsorship).
20 points for an offer of a minimum salary of £30,000 (depending on your occupation).
10 points for having at least £945 available to you.
10 points for meeting the English language requirement.

“If you have 70 points, you meet all the requirements and your application is done in the correct way, you should receive your visa within eight weeks of your application,” said Gamble.

Solar Power in the South African North West

I’m engaged with consultancy work within the new solar power farms – see more here: https://www.businessinsider.co.za/a-massive-new-concentrated-solar-power-station-is-going-live-and-it-will-supply-electricity-day-and-night-across-south-africa-2018-11?

Astonishing development.

Invasives in SA

New tax implications for South Africans working abroad – taxed if over R1m p.a.

In broad terms South Africans are generally currently exempt from South African Income Tax if they spend more than 183 full days outside of South Africa during the tax year. More of that below. if you are classified as a South African resident you will be liable for tax on your overseas income.

However in terms of proposed changes the termination of this approach will be somewhat weakened by:

1. the inclusion of a R1 million per year exemption; and
2. the possible further reduction if a double tax agreement applies.

The expected start date is 1 March 2020. In other words only the first one million Rand earned by a person who meets the criteria for exemption, will actually be exempt from income tax. All income earned above the initial R1m will be taxed at the normal rates applicable to individuals. The individual may also be entitled to a reduction, or in practise a refund of their SA income tax actually paid, by offsetting all or part of foreign tax which they may pay on the income. This could take place if they paid tax on the income to a country whic his a party to a so called double tax treaty with South Africa.

Example – take a typical super yacht skipper from South Africa. He or she will be earning a minimum of say US$200,000 per year, equating ZAR3m at current rates. If the exemption applies, and is limited to R1m per year, then R2m of taxable income arises. Typically this will have not have been taxed anywhere, so SA personal tax of approximately R745,000 would arise leaving R 1,255,000 take home pay aftertax. A nasty shock indeed .

SA residents may exit the SA tax net by formally emigrating or ceasing to be tax resident. However there may be Capital Gains Tax implications. Under such circumstances the SA tax payer will be deemed to have sold all of their assets, with the exception of immovable property situated in South Africa, at market value on the date they ceased to be a resident and will accordingly be liable for pay the resultant tax applicable to the capital gain on those assets.

Carefully consider and take professional advice to guide your decisions regarding taxation – income tax, capital gain tax, tax in the countries where you maybe working as early as possible. Tax should not drive your overall decision making, but its best to get it under control, rather than find taxation becomes a nasty surprise and SARS demands it share of off-shore earnings.

Although some overseas income may be exempt in terms of the Income Tax Act, it must be remembered that a person will be treated as a resident for tax purposes if they are either ordinarily resident in South Africa, or if they meet the criteria of the physical presence test. A person will be an SA resident for tax purposes when they meet all of the following criteria regarding the number of days spent in South Africa:

91 days in total during the current year of assessment; and

91 days in total during each of the previous five years of assessment; and

915 or more days during the previous five years of assessment

When is income exempt from South African tax?

Foreign income earned by a tax resident will be exempt from South African tax if the person works as a crew member or officer of a ship which is engaged in the transport of passengers overseas, or in the prospecting, exploration or mining for any minerals from the seabed outside of South Africa. This exemption will only apply if the person was outside of SA for a total of more than 183 full days during the tax year.

In addition, any salary earned by a South African for services rendered outside of SA on behalf of an employer will be exempt – if that person was outside of SA for more than 183 full days (including a continuous period of 60 days) during any 12-month period that started or ended during the year of assessment. This exemption does not apply to income made through contracting, which would be fully taxable.

Treasury has been debating this exemption since 2017 with the initial aim being to repeal it fully. The main reason provided for this proposed amendment was to curb situations of double non-taxation of foreign income such as when an individual’s employment income was not being taxed in either SA or the foreign country.

UK.gov withdraws life support from flagship digital identity system. RIP Verify. Finally.

Reposted from the original source: https://www.theregister.co.uk/2018/10/10/govt_withdraws_life_support_from_gds_flagship/ By Andrew Orlowski 10 Oct 2018

It’s official: the UK state’s expensive-but-comatose digital identity system Verify has been taken off life support.
Identity disorder: Does UK govt need Verify more than we do?

The minister responsible confirmed to Parliament yesterday that it will halt funding for the project after cash has been exhausted – and it’s up to the private sector to decide whether to keep the vegetable alive.

But it’s an unenviable option. The government can no longer guarantee that Verify will be an exclusive or even preferred ID system for public services.

“The Government expects that commercial organisations will create and reuse digital identities, and accelerate the creation of an interoperable digital identity market,” said Oliver Dowden, Minister for the Implementation [sic] at the Cabinet Office. “This is therefore the last investment that the Government will provide to directly support the GOV.UK Verify programme. It will be the responsibility of the private sector to invest to ensure the delivery of this product beyond the [stated] period.”

It’s no surprise – Verify lost the confidence of Whitehall years ago. The project was launched in 2011 (as “Identity Assurance”) with the goal of providing a single sign-on ID for public services ranging from tax collection to benefits. The goal was to have 20 million users by 2020. Consultants and the Cabinet Office’s Nudge Unit dreamed (PDF) of it playing a role for consumers, too.

“The days of creating different user names and passwords for every new website are numbered, thank goodness,” promised GDS Maximum Leader Mike Bracken* in November 2011.

A successful identity framework would mean departments didn’t have to roll their own. But that’s exactly what happened. HMRC was obliged to extend the ageing Government Gateway itself, and the Department for Work and Pensions (DWP) decided Verify couldn’t cut the mustard for the Universal Credits system, as we exclusively revealed here. DWP also had to develop its own identity system. The other big service, the NHS, never took Identity Assurance/Verify serious in the first place.

People had problems too, as the BBC’s Rory Cellan-Jones found in 2014. Two years later, the success rate for creating new identity accounts was just 72 per cent.


What is the future direction of banking?

Articled first appeared at: https://www.paymentscardsandmobile.com/what-is-the-future-direction-of-banking/

Still dealing with the damage to consumer confidence after the crisis of 2008 and the new opportunities being seized by FinTech businesses the big banks are caught in a perfect storm.

FinTech in 2018As Mark Carney, Governor of the Bank of England has said: “FinTech…will change the nature of money, shake the foundations of central banking and deliver nothing less than a democratic revolution for all who use financial services.”

Taking advantage of new technology and crowdfunding platforms, in 2016 Monzo raised an impressive £1 million in just 96 seconds via equity crowdfunding site Crowdcube, crashing their servers and setting the record for the fastest ever crowdfunding raise – writes Marc Hurr and Daniel Eduardo Suero, co-founders of iBAN Wallet.

Monzo went on to raise another £21 million in funding and secure itself as a challenger bank, putting the wind up long-established high street banks and proving the concept of a community-owned digital bank.

Similarly, alternative banking providers, such as iBAN, are using crowdfunding to fund the launch of new banking apps and features, such as peer-to-peer lending and free international transfers.

One thing these new banking providers promise is to put the customer at the centre of their business model, rather than treating customers like a commodity to be hoarded and exploited. In fact, a recent global PwC survey found that 61% of bankers thought a customer-centric business model is very important yet only 17% were very prepared for it.

It is this disparity that challenger banks are capitalising on by offering improved services based on technological innovation, something traditional banks are struggling to adopt due to their large size, complex infrastructure and existing business models.

The same PwC survey found that innovation within the banking industry was considered to be somewhat or very important by 87% of bankers, yet just 11% said that their organisation was very prepared for it.

With all this change, the direction banking is going means banking could be very different in ten years’ time. So, what can we look forward to?
Machine Learning and Predictive Analytics

Machine learning has been around for some years now, but it still hasn’t really come of age. Essentially, they are still in school – learning now to provide future benefits.

One of the main benefits to customers will be proactive assistance, not unhelpful hindsight. For example, challenger banks already offer balance warnings and advice, not a notification that you’re already over your overdraft limit.

In future, we will see these systems become even smarter, using behavioural pattern analysis and predictive analytics to find ways to help us save money and prepare for potential financial situations we might find ourselves in. In turn, this should help customers save money, providing more capital for these new banks to operate with.
Payment Systems

We are already getting used to new forms of payment, such as contactless cards and mobile payments. So, in a sense, the future is already here.

Yet these systems still have lots of room for improvement. While convenient, contactless cards still have spending limits to avoid excessive spending through theft and fraud. They can still be lost, stolen or damaged. And you will still need your PIN at certain retailers and to withdraw cash.

The future of payment systems, however, may lie in biometrics. There are many biological features that make us unique as individuals. Even identical twins have different fingerprints, iris and blood vessel patterns, for example. These can be scanned and used to help secure our money without the need for PINs or cards, simplifying everything from purchases to online banking.
Data Aggregation

Banks have access to far more data than any other business. They know where we shop, who we work for, where we’re going on holiday, and almost everything in between. They also have access to vast amounts of data from multiple other sources, such as businesses, credit agencies, investment houses and central banks.

These data sources will increasingly be aggregated to provide a clearer picture of the world – from the micro to the macro level – allowing faster, more accurate decisions and advice. In a sense, banks can act as digital value aggregators, providing real-time value for businesses and customers.
Collaborators not competitors

In the spirit of generating value, banks can form partnerships with a network of individuals, businesses and service providers, and can leverage their power to lower costs on behalf of customers.

This stands in stark contrast to today’s approach of building more complex solutions for a higher price in order to compete against other financial institutions. It is this approach that created the complex financial instruments that, ultimately, played a huge part in the global financial collapse.
Agile and Light

Technologies like blockchain are enabling a quiet revolution – invisible and seamless – to enable more direct and transparent transactions between users. What started as peer-to-peer trading has morphed into complex networks backed by a digital ledger.

Not only does blockchain cut out the middlemen, offering traditional financial services at a fraction of the cost, it can make financial transactions more transparent and secure. Technologies built on top of blockchain, such as Etherium, are enabling the use of digital smart-contracts which make it almost impossible for financial fraud, embezzlement and dodgy trading practices to continue.

Ultimately, this technology can put users in charge of finance, rather than being at the control and whim of global financial institutions.
AI assistants

We believe machine learning, data aggregation, blockchain and greater collaboration will converge to offer users a more personalised and tailored service. Combine that with ever-improving digital assistants and you end up with a network of services that can use data to get smarter and be more helpful to customers, not ‘selling’ products in an attempt to extract ever-increasing profit from them.

Banks of the future can use their privileged position to offer a personal experience and form closer relationships with their customers. We think AI assistants will be the new, personal face of these banking services.
AR and VR

The way things are trending augmented reality (AR) and virtual reality (VR) will become dominant in our everyday lives. We might interact with people and businesses via VR, gain real-time information in AR, and seamlessly switch between the two.

Imagine being able to gain a real visual understanding of your finances, where they are allocated, and what you may need to save for in the future. Almost like a time-traveller you’ll able to make highly-accurate predictions about your financial circumstances, providing unimagined confidence in your future financials.

The Smart Home Movement: Following Consumer Demand – smart technology can save energy on heating, cooling and lighting and can even save water through smart irrigation, it is viewed as a valuable environmentally-friendly feature of a home.

The Smart Home Movement: Following Consumer Demand
Smart homes are moving past the early-adopter stage and through the acceptance and demand stages quickly.
Published by: Special to CONTRACTOR | Aug 20, 2018

The market for smart home technology that was about $24 billion in 2016 is anticipated to reach $53 billion by 2022. Smart homes are moving past the early-adopter stage and through the acceptance and demand stages quickly. With this in mind, forward-thinking builders and contractors might consider offering a wide-range of these features in new residential construction projects.

What is Creating the Demand for Smart Home Technology?

Acceptance of Technology

Initially, there may have been some reluctance to accept smart technology in homes. This reluctance may have been rooted in concerns about reliability, perceived need, security, and ease of use. In a few short years, however, most of these issues have been addressed and more benefits to the technology have been realized. Artificial Intelligence (AI) assistants like Siri and Alexa have exploded in popularity and have been accepted into millions of homes. Many consumers have come to not only accept the help of these devices but have come to rely upon them.

Millennials Entering the Housing Market

Slow to embrace homeownership, mainly due to a challenging economy and other unique circumstances, the largest segment of the population on the planet is moving into real estate in increasing numbers. While U.S. Census Bureau statistics show that home ownership by Millennials is still relatively small at 36%, according to Bloomberg, its growth from 34.7% a year earlier was higher than any other age group between 2016-2017. This is a generation who grew up with technology and the convenience and connectivity it provides. While their predecessors may have sought out open floor plans, garden tubs, and granite countertops, smart technology is potentially more important to this younger generation of home buyers.

Demand for “Green” Features

Because smart technology can save energy on heating, cooling and lighting and can even save water through smart irrigation, it is viewed as a valuable environmentally-friendly feature of a home. Millennials aren’t the only generation that values green brands and products, but their increasing involvement in real estate is certainly having an impact in this regard.

Adding Value to Homes

Like other features that create value in a home, smart technology can increase interest and demand for a property, and when properly designed and installed, can add real value. This is particularly true when local buyers are familiar with the technology and understand its convenience and capabilities.


According to an article in Reuters, the globally connected home security system market is expected to grow by over 27% in the period from 2017-2021. Security is an integral part of smart home features, including the ability to lock and unlock doors remotely, detect motion, check into a home via live video and more. This expected demand coincides with the anticipated growth in smart technology.


Consumers have come to rely on smartphones to provide directions, information about where to eat, and to stay connected with family and friends. Many count on smart technology for references and referrals, to make purchases and to share rides. It has become very much an “on-demand” society and it is no surprise many would want these conveniences woven into their homes at some point.

Popular Smart Home Features

It is easy to understand the value and convenience in having the most popular smart home features installed in a home. These include:

• Lighting

• Heating and Cooling

• Appliances

• Entertainment

• Locks and Security

• Sensors and Detectors

• Window Blinds

• Home Healthcare

• Irrigation

Since much of this technology can be more expensive to install as aftermarket features, more contractors are realizing the value of including them in new home construction. This often provides for an economy of scale in costs, while offering home buyers an all-in-one, seamless, smart home network solution. A home with professionally installed, complete smart home features will likely have a higher perceived value than one with a series of DIY installed, individual features.

The Difference Between Automation and Smart Features

There is a difference between features like automatically-timed thermostats and smart features in a home. Smart features are generally Wi-Fi connected devices that “learn” the habits of its owners. Automation in a home falls into the programmable device category.

Well planned smart features can work in concert with each other and be simply managed from a single device, most commonly a smartphone. Smart features have become increasingly secure and desired. For a home to be considered “smart”, it should generally have three or more smart features.

Smart Homes: Here to Stay

It is difficult to imagine life today without social media, smartphones or GPS systems, and it will only become more difficult as time passes. It may not be long before many have these same expectations in their homes. Today, 43 percent of those who own smart homes are between the ages of 18 and 34. Builders and contractors who want to stay relevant in the coming years may want to prepare now to offer homes and devices that are better connected to their owners in the future.

What other construction feature increases convenience, adds value, improves safety and security, saves energy, and is “green”? What other home system appeals more to today’s home buyers? Smart technology in homes is neither fad nor limited to just Millennials. It appeals to all buyer segments and it is here to stay. The direction smart homes take from here is certainly up to debate, but it is hard to imagine things will stay as they are for long.


All change: non-residents and UK property

Changes to the way non-residents holding UK land and property are taxed were included in the draft legislation for Finance Bill 2018-19. What are these changes and how will they affect your clients?

A number of changes to the way non-residents that hold UK land and property are taxed are included in the draft legislation for Finance Bill 2018-19, published on 6 July 2018. Some of these are intended to come into force as early as April 2019, meaning that clients and their advisers have less than eight months to get to grips with them.

This article provides a brief overview of these changes and highlights some key points to consider. Readers who think a provision may be relevant to their clients should consult the relevant draft legislation and explanatory notes for the Finance Bill.

Extension of scope of Non-Resident Capital Gains tax

Since April 2015, all non-UK resident individuals, closely held companies, trustees, personal representatives and funds have been subject to non-resident capital gains tax (NRCGT) when disposing of UK residential property (see s14B to 14H and Schedule 4ZZB TCGA 1992).

With effect from April 2019, the scope of NRCGT will be expanded to also cover disposals of:
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Non-residential (i.e. commercial) UK property; and
“Substantial” interests in “UK property rich entities” – referred to as “indirect disposals” (see below).

Non-resident diversely held companies, widely held funds and life assurance companies will also be brought into the scope of NRCGT for the first time from April 2019. All non-UK resident companies, including close companies, will be charged to corporation tax rather than capital gains tax on their gains.

Where an asset is brought into NRCGT for the first time as a result of these changes, it can be rebased to its April 2019 market value, ensuring no gain arising prior to that date is subject to UK tax. Assets already in the scope of NRCGT (e.g. UK residential property) will continue to be rebased to April 2015.

A side effect of these changes, and one which may please many tax advisers, is that Annual Tax on Enveloped Dwellings (ATED)-related CGT will be abolished from April 2019.

Indirect disposals and NRCGT

The provisions for indirect disposals are complex and are intended to catch, for example, the situation where a non-resident sells shares in a company which holds UK land as an investment.

For an indirect disposal to be subject to NRCGT, the following conditions have to be met:

The disposal has to be of a right or interest in a “property rich” company – broadly one which, at the time of disposal, derives at least 75% of the total gross market value of its assets from interests in UK land; and
The non-resident investor must have a “substantial indirect interest” in the UK land – broadly at any time in the two years prior to disposal they (together with certain connected parties) had at least a 25% investment either directly, or indirectly, in the “property rich” company.

There is a helpful exemption – if all of the UK property (or all but an insignificant value) has been used for trading purposes throughout the year leading up to the disposal, and it is reasonable to conclude it will continue to be so used after the disposal, then the NRCGT rules won’t apply. This should mean for example that most investments by non-resident investors in UK retail and hospitality businesses are exempt.

Payments on account for residential property gains

Another proposed change will affect both UK residents and non-residents who own residential property.

From April 2020, UK residents will be required to make CGT payments on account and file returns within 30 days of disposing of a residential property in a similar way as for NRCGT. The change will not apply where the gain is not subject to CGT (e.g. because it is covered by private residence relief).

For non-UK residents, the existing NRCGT 30-day filing and payment on account requirement will be extended:

To apply to all companies from 6 April 2019; and
To remove the exception for making a payment on account where a self-assessment return is filed for disposals on or after 6 April 2020.

Non-UK resident companies carrying on a UK property business

From April 2020, non-UK resident companies carrying on a UK property business will become subject to corporation tax rather than income tax.

This raises several practical issues:

The corporation tax rules, including the corporate interest restriction and other anti-avoidance provisions will apply.
Existing income tax losses can be set off against future property business profits chargeable to corporation tax, but will not be available for group relief or use against other profits and will have to be tracked separately.
Non-resident companies will have to comply with the different filing and payment regime of corporation tax – including the requirement to submit returns and computations online in iXBRL format.


As can be seen, the proposed changes are quite wide ranging and could have a major impact on non-residents with UK property interests.

If you have non-UK resident clients, it is probably worth speaking to them about the changes as soon as possible. Things to consider include:

You may want to make clients who will be brought within NRCGT for the first time aware that any disposal after April 2019 may give rise to filing obligations and tax so they can plan accordingly. (This may include obtaining an April 2019 valuation for rebasing purposes.)
Would you be able to spot if a non-resident client made an indirect disposal subject to NRCGT?
Do you have a system in place to ensure clients inform you of relevant disposals as soon as possible so that they can meet the 30-day payment and filing deadlines?
For non-resident corporate clients with a UK property business, you may want to flag up the change to corporation tax in 2020, and what this will mean in terms of administrative burdens and costs.

Author – Emma Rawson is technical officer at the ATT. ATT Technical Officer
Date published August 6, 2018

South Africa is severely underprepared for automation – which could cost millions of jobs

Article first published by businesstech.co.za – the full reference url is at the foot of this article – 22 July 2018:

While much has been written about the incoming impact of AI and automation, limited work has been done on the potential impact of automation on economies in the developing world.

This prompted Daniel le Roux, a senior lecturer at the department of Information Science at Stellenbosch University, to investigate the situation in South Africa.

In an article for The Conversation, le Roux explained that he used data collected by Statistics South Africa for its Quarterly Labour Force Survey and an automation index produced by academics from the University of Oxford.

“From this, I was able to estimate that occupations performed by almost 35% of South African workers – roughly 4.5 million people – are potentially automatable in the near future,” he said.

“But the country appears ill-prepared for this reality. There is little discussion at policy level. Hardly any research has been done to investigate possible future scenarios.

“There’s also a great deal of uncertainty about how the uptake of automation technology may further drive inequality and preserve the asymmetry in the country’s economy,” he said.

According to le Roux’s data, roughly 14 million South Africans work in around 380 different occupation types.

64 of these occupations, employing an estimated 3.6 million workers, have a 90% or greater probability of being automatable in the near future, he said.

These occupations include, for example, cashiers, tellers, secretaries and telephone salesmen.

He found that the occupations of another 2.6 million workers, of whom 900,000 are employed as farmhands and labourers, have an 80%-89% probability of being automatable.

However he cautioned that workers of all skills levels are at risk, and that accountants, auditors and dental technicians aare extremely susceptible to automation.

“But trends suggest that people in low and medium-skilled occupations are generally more at risk than those who require extensive education,” he said.

“So it is not surprising that the country’s previously disadvantaged population groups are more exposed to job losses due to automation than their white counterparts.

“Half of all black South Africa workers are in occupations with an 80% or greater probability of automation; so are 47% of coloured workers. For white employees, however, the proportion is only around 30%.”

No preparations made

Despite the risk involved, le Roux said it was unlikely that South African business-owners would not take advantage of this new technology as it becomes available to them.

But there seems to be very limited high-level discourse about how South Africa plans to navigate this wave of technological advancement, he said.

“For South Africa, with its large number of low-skilled workers, a dramatically improved education system is an obvious and critical concern,” he said.

“Despite high unemployment, there remains a scarcity of skills in a wide variety of areas. This suggests a mismatch between supply and demand in the labour market.

“It is also important to understand how technologies will displace work in future. This understanding can help to better inform young South Africans’ career choices.”


Nedbank’s new Scan to Pay mobile app functionality takes convenient, secure payments to the next level

Nedbank clients who make use of the award-winning Nedbank Money App are about to experience an entirely new level of payments convenience and security, thanks to the bank’s addition of a digital Scan to Pay function – a first-in-market innovation by Nedbank – within the App’s already extensive range of digital money management features.

The Scan to Pay function makes it possible for anyone who uses the Nedbank Money App on their mobile phone or tablet to pay any physical or online vendors who offer MasterPass, Snapscan, Pay@ or Zapper Quick Response (QR) codes as a payment option.

According to Chris Wood, Executive: Nedbank Card Issuing and Payments, Scan to Pay is not just a first-in-market, it also has the potential to fundamentally change the way South Africans choose to make payments.

“Nedbank is incredibly proud to be leading the way in the digitisation of payments after having originally launched the MasterPass payments ecosystem in 2015,” Wood explains, “and Scan to Pay is further evidence of the fact that we are actively building on this solid reputation as a market leader in secure and convenient digital payments enablement.”

Wood explains that the launch of the Scan to Pay functionality as part of the Nedbank Money App gives Nedbank clients the option to conveniently, and quickly scan and pay for goods and services offered by more than 100 000 retailers and vendors countrywide. And because Money App users already have their credit and debit card details securely loaded onto their digital devices, there is no need for them to add these details or load multiple apps. “With Scan to Pay, our Nedbank Money App users are literally a click away from the absolute convenience of instant, secure payments on their mobile.”

The Nedbank Scan to Pay App functionality was developed in conjunction with Entersekt, a leading provider of mobile authentication and app security innovation, with which Nedbank has had a long-standing relationship. According to Schalk Nolte, CEO of Entersekt, the new feature will be made available to app users via an automatic update, and the functionality makes Nedbank the first bank in the country to make all major domestic scan-to-pay services available to its customers within its banking app.

“Nedbank’s incorporation of Scan to Pay into its app is evidence of the bank’s understanding that effortless accessibility, underwritten by established client relationships, represent an important advantage for any bank that wants to achieve a greater share of the booming global market in mobile payments,” Nolte explains.

According to Wood, while Nedbank Scan to Pay is the next in an ongoing range of innovations that the bank has steadily rolled out to South African banking consumers, it is by no means the last. “We’re very excited to be able to offer our clients this dynamic, enabling technology,” he enthuses, “but we are even more excited by the strategic plans we have to continuously deliver even more dynamic digital solutions that will enhance their mobile payments experience.”

Wood emphasises that this digital experience is still complemented by significant real-world benefits for customers. “While payments made using the Scan to Pay functionality don’t require a physical card to be swiped or tapped,” he explains, “users still qualify for all the rewards that would typically accrue to them – including Greenbacks and Nedbank Affinity donations – if they were using an actual Nedbank credit or debit card to make their payments.”

This article was published in partnership with Nedbank – https://businesstech.co.za/news/industry-news/261125/nedbanks-new-scan-to-pay-mobile-app-functionality-takes-convenient-secure-payments-to-the-next-level/