What is Capitec Pay? 

 The first of its kind in South Africa, Capitec Pay is an open banking payment method from Capitec Bank that aims to facilitate financial inclusion in South Africa. Through Capitec Pay, Capitec Bank account holders can make secure payments directly from their bank account via the Capitec App on their smartphone, without their bank card. All they need to identify themselves is their cell phone number, ID number or account number – no passwords or usernames are required.  

How can online shoppers pay with Capitec Pay through SiD? 

For online shoppers familiar with the ease and convenience of SiD, using Capitec Pay will be a seamless transition. 

1. When customers arrive at your checkout page, they simply select the SiD payment option. 
2. A prompt will appear, allowing them to choose Capitec Pay as their preferred bank. 
3. They will then enter their cell phone, ID number or account number as requested. 
4. On the Capitec App, they navigate to the Transact section and select Capitec Pay and authorise the payment. 
5. Upon completing the transaction, customers will return to your website with a payment confirmation. 
6. You will receive instant notification of the successful payment, enabling you to promptly fulfil their order or request. 

Capitec Pay boasts a higher success rate compared to other payment methods due to its increased uptime from its bank-side monitoring. So, we are confident your business will benefit from this latest addition to our supported banks as it will help decrease cart abandonment.  

If you have any queries, please reach out to our helpful Customer Services team via email. 

The improvements will benefit our growing network of merchants, which has more than doubled year-on-year.

We are exceedingly pleased with the results of the team’s work over the last few months. The new platform is delivering significantly better speeds across all the banks. The new interface, designed with the help of a specialist UX team, also offers a far superior user experience, lowering cart abandonment and delivering an overall checkout experience that will delight customers.

Superior Customer Service

Offering as many payment options as possible is a big part of the online customer experience.

Adding the new and improved SiD Secure EFT is a quick and easy way for merchants to deliver superior customer service and, in many cases, differentiate themselves from their competitors.

How to use the New & Improved SiD

Additional banks

In addition to these improvements, our service is now available to customers of Tyme Bank. We are also in the process of adding Bidvest Bank and African Bank, making our platform more accessible, regardless of where our customers’ bank.

No tokenisation

We are particularly pleased with the speed levels of our new platform and can support it without needing to resort to tokenisation. This allows us to offer customers a comparable transactional experience when compared to other online payment methods. SiD will remain true to its commitment that it will never store users’ details.

If you require any further information or you’d like to receive SiD payments on your company website, please contact us below

Ireland, Kenya, South Africa, 29 July 2020: DPO Group (DPO), one of the leading, high-growth online commerce platforms in Africa operating across 19 countries, has today entered into an agreement to be acquired by Network International, a leading enabler of digital commerce across the Middle East and Africa (MEA). In a landmark deal for the African payments space, Network International will be acquiring 100% of DPO Group, which will continue to operate under the same brand.  

Headquartered in Dubai and listed on the London Stock Exchange, Network International is a leading pan-regional provider of digital payment solutions, with presence across the entire payments value chain, delivering integrated omnichannel payments services to its customers. The acquisition of DPO Group will support Network International’s capabilities in Africa across online, mobile and alternative payments as well as providing merchant and MNO relationships and increasing the cross-selling opportunities to both DPO and Network International’s customers.  

DPO Group is already a high growth business, with revenue CAGR of c.40% from 2017-2019. This transaction enables DPO to add point of sale payment solutions to its product portfolio, connecting DPO to acquirers and issuers across the African continent and enabling DPO to penetrate the Middle East market for the first time.  

Eran Feinstein, CEO of DPO Group commented: “This deal represents a significant milestone for the pan-African payments landscape and the customers and businesses we serve. Combining the two companies will allow us to broaden our offering for new and existing customers, significantly improving capacity for Africa’s merchants to do business not only across the continent but in the Middle East as well as globally.” 

Simon Haslam, Network International’s Chief Executive Officer said: “We are excited by this acquisition which will strengthen our strategic framework by combining both of our businesses’ activities across the African market. This deal will also enhance our offering in the payments value chain by presence on both sides of the transaction, acquiring and issuing, and accelerate our future growth. Together, we have a powerful combination to accelerate digital payments across our regions and offer a one-stop shop solution for merchants, with multiple payment acceptance methods.” 

Offer Gat, DPO Group Co-Founder and Chairman added: “We are delighted to have worked with Apis Partners in growing DPO Group into one of the leading pan-African payments companies. We have found Apis’ financial services sector expertise invaluable as we scaled DPO from a regional player to a truly pan-African platform present in 19 countries and serving both blue chip and local merchants. Apis supported DPO throughout as we made five major acquisitions in four years, entered new markets, and launched innovative new products across the continent. We are looking forward to working with our new shareholder, Network International, to achieve similar success over the coming years.” 

Matteo Stefanel, Managing Partner and Apis Co-Founder said: “Eran and Offer are outstanding and visionary entrepreneurs who have built DPO into a truly world class business in a very short period of time. They exemplify the type of dynamic management teams Apis looks to invest in, and we are very proud to have worked with them and to have been part of the DPO journey. As they embark on the next phase of their journey as part of Network International, I am confident that Eran, Offer and the rest of the DPO team will continue leading the way in the African payments sector.” 

Udayan Goyal, Managing Partner and Apis Co-Founder said: “Africa represents one of the fastest growing and most under-penetrated markets for online payments in the world. Our investment in DPO Group was recognition of this fact and the company’s subsequent rapid growth and ultimate acquisition by Network International speaks to the enormous opportunity within payments across Africa. We believe the combination of DPO Group with Network International will create tremendous value for both businesses as they continue to deliver world-class solutions across African markets.” 

DPO Group will retain its executive team and employees, as it continues to expand and will drive the payments agenda of the larger group within the African continent and the Middle East.  The acquisition will also see DPO Group’s shareholders and executives become key stakeholders in Network International.   

Morgan Stanley acted as the financial advisor to DPO and ENS Africa acted as the legal advisor. The deal is expected to close by the end of 2020, subject to customary closing conditions including regulatory and anti-trust. 

About DPO Group 

DPO Group is a leading African payment service provider (PSP) which has developed the technology to enable businesses and individuals across the continent to make payments online and offline with all currencies and payment methods.  DPO Group currently works with over 47,000 active merchants, including airlines, hotels, restaurants and travel agents as well as eCommerce all over Africa. The company was founded in 2006 and since then it has grown to be a pan-African PSP with more than 350 employees and a presence in 19 African countries. By providing its merchants of all sizes with the capacity to make and accept payments effortlessly, DPO supports financial inclusion and economic development on the continent. 

DPO operates in the following countries: Kenya, Uganda, Tanzania, Zambia, Rwanda, Ethiopia, Zimbabwe, South Africa, Namibia, Botswana, Lesotho, Eswatini, Malawi, Mauritius, Ghana, Nigeria, Cote D’Ivoire, DR Congo, Senegal.  www.dpogroup.com 

About Network International 

Network International comprises of a group of companies and is a leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services. 

Network International Holdings Plc is the holding company for Network International and the group companies. 

About Apis Partners LLP 

Apis Partners LLP (www.apis.pe) is a private equity asset manager that supports growth-stage financial services and financial infrastructure businesses by providing them with catalytic growth equity capital.  

Apis Partners LLP, through its team of 26 professionals with deep industry expertise, manages total committed capital from investors (including drawn and invested capital) of ca. US$ 1bn for investments in financial services and technology.   

Apis Partners LLP is highly conscious of the developmental impact that the provision of growth capital for financial services in growth markets can achieve, and as such, financial inclusion is a core tenet of Apis Partners LLP’s approach and investment mandate. 

Contacts: 

Media DPO Group enquiries:  

Anna McShane, Gong Communications 

anna@gongcommunications.com M: +44 (0) 7766 256 538 

Media DPO Group enquiries Kenya only: 

Janet Ndugire, Gong Communications 

E: janet@gongcommunications.com  M: + 254 (0) 721 230 926 

Media DPO Group enquiries South Africa only: 

Elzaan Rohde, Semaphore Communications 

E: elzaan@semaphore.co.za M: +27 (0) 83 256 1493 

Network International media enquiries: 

Finsbury – Public Relations Adviser

James Leviton and Rob Allen 

E:Network-Lon@Finsbury.com 

Commenting on the investment, Offer Gat, the DPO Group Chairman said: “We are excited to include South Africa’s leading online EFT solution, SID, under our group, and have SID founder and innovator, David Liu, join us as a shareholder through this acquisition. SID has been a pioneer in the payments industry for many years and we have no doubt that they will continue to bring new and innovative solutions to our customers and merchants across Africa.”

SID began its operations in 1998 and has been providing secure online card processing to hundreds of South African e-commerce websites since. In 2007, the company launched a secure Secure EFT payment product that allows funds to be transferred online and in real-time from a client to a merchant’s bank account, with the transaction reference controlled by the merchant making reconciliation easy and convenient. SID has enabled merchants across South Africa to collect Secure EFT payments via a website, email or invoice and has become one of the most popular online payment methods in the country.

SID Founder, David Liu said: “the goal has always been to help people buy and sell anywhere, anytime and the DPO Group has a similar vision. By joining the Group, we have no doubt that together, we will achieve one payment solution for Africa.”

SID  is the 4^th acquisition that the DPO Group has made in South Africa following PayGate, PayThru and VCS. The Group was established in Kenya in 2006 and has since expanded to Uganda, Rwanda, Zanzibar, Tanzania, Ethiopia, Zambia, South Africa, Zimbabwe, Namibia and Botswana.

DPO Group CEO, Eran Feinstein said: “Setcom has continuously innovated and achieved impressive results in the South African payment space. We plan to expand and promote SID to all current and future merchants across our markets so that they may offer this payment option to their customers, further helping them to enhance their businesses.”

About Direct Pay Online Group

The DPO Group is the leading payment service provider in Africa serving over 25,000 online merchants including over 50 airlines, thousands of hotels, restaurants, travel agents, tour operators and other players in the e-commerce sector. We accept all major credit cards, mobile money and e-wallets, and are a leader in technology, usability and security across the continent. DPO uses the most sophisticated fraud prevention system for online payments in Africa and holds PCI DSS Level 1 Certification in 12 countries. The Group acquired PayGate South Africa in September 2016, VSC Namibia and Botswana in March 2017, PayThru South Africa in June 2017, and VCS South Africa in August 2017. For more information please visit www.directpay.online, www.paygate.co.za, www.vcs.co.za,  www.paythru.com or www.sidpayment.com.

As long as a shopper has an account with one of South Africa’s major banks such as ABSA, Capitec Bank, FNB, Investec, Nedbank and Standard Bank, such transactions are possible.

Introducing SID Secure EFT account, product of a well-known South African Payment Gateway, it makes it possible for your customers to make easy, hassle-free payments when shopping via your online store.

Here are a few facts that you need to know as to why SID Secure EFT will benefit your e-commerce business regardless of its size:

• SID Secure EFT makes instant payments possible. You can easily track all the payments made by your customers.
• There is a reduction in human error as the matching of payments is done automatically without the need for human intervention.
• It is a safe online payment method. No credit or debit card details are entered, thus reducing the risk of criminals getting hold of your confidential information.
• The payments received are 100% guaranteed. In addition, payments received are deposited directly into your bank account in real time.
• Your customers can complete mobile or online payment quickly and efficiently.

Try it out today for easy, quick and effective online payments for your convenient transactions.

Ten years ago, SiD was born, looking to bring secure online payments to the growing local e-commerce community. At its inception, the technical team was working in an environment that would look antediluvian in comparison to how we design and develop today.

To further put this in perspective, cloud computing also turns 10 this year. I wonder who can even remember working in an IT environment without the Cloud? Yet when SiD version 1.1 was released, the Cloud was nothing more than hype and speculation.   

Building the first iteration of our solution was not simple, given that we were one of the first to market. Version 1.1 was driven by download programs which, if they were used today, would be viewed with suspicion. However, that was not only readily accepted by our users but considered fairly high-tech at the time. Moving onto a browser-only environment in version 1.2 was a significant step forward, but users would still only see a window which they simply had to trust would link securely with their bank. Again, our loyal customers and their users were happy to do this, given the benefits of secure EFT.

Payment innovation – constantly moving forward

The SiD development team has made strides over the last ten years. Keeping up with technology changes, as well as the many advances made by our nefarious adversaries in the hacker community, has been a full-time job.

Our SiD version 2.0 has a javascript-heavy front-end following best practice. There are also new web frameworks out there and using them ensures we are in line with interoperable standards, keeping the product compatible with all browsers and across all devices.

At the heart of the SiD story has been our drive to build a solution which has usability at its core, without compromising on security. When you look at where the world of e-commerce and m-commerce is going, this is going to become even more important.

The constant drive toward mobile is shaping how every tech company designs. People are looking for speed and are used to instant gratification. Consumers are used to getting what they want, when they want it, wherever they are.

Looking internationally, Forrester predicts US online retail sales will reach over $500 billion by 2020, up from $373 billion in 2016. South Africa, admittedly coming off a lower base, will see even bigger growth. Forecasts by World Wide Worx from 2016 to 2020, show local online retail sales almost doubling.

Payments lie at the heart of serving up a frictionless e-commerce user experience.  Late last year Apple launched a payment button on its MacBook Pro keyboards and the growth in in-app payments is keeping the industry on its toes. Advances in device and biometric fingerprinting are getting increasingly complex when it comes to verification and authentication and every improvement needs to be factored in when we design for the user.

SiD has come a long way in 10 years and, the one thing we are very clear about is that the next decade will be pushing our payment innovation expertise to the limit. Fortunately, the team is smart, agile and committed and, if our track record is anything to go by, we will be ready for the challenge.

What were you doing ten years ago? Well, if you are South African, chances are you were listening to Rihanna’s Umbrella, queuing to watch the Simpson’s Movie, or cheering on the Boks as they hoisted the Webb Ellis trophy in Paris. For some, it may feel like only yesterday, but in IT, a decade may as well be a century.

In a world where innovation is almost exclusively written about in relation to start-ups and disruptors, it’s seldom that a company which has been around for a decade can still be seen as innovative. However, the pace of change in online buying, digital security and consumer expectations has forced constant re-engineering from companies in the payment space. Staying ahead of the innovation curve has been the key focus at SiD.  

Ten years ago, banks in South Africa were experiencing a high level of phishing attacks. The term itself was as new as the phenomenon and the banks had an uphill battle trying to stave off phishing attempts.

To add to their pain, banks were also trying to promote their online banking services and were forced to ramp up their consumer education process. It was a fine balancing act for them. They needed to allay concerns about the integrity of the offering and convince a nervous public into trusting their online services.

As a young EFT payment company entering a market which was beset with security concerns, we spent most of our time meeting with both the commercial banks and the Reserve Bank. We had to prove our offering would not compromise their offerings and, at the same time, explain the value of our offering for consumers wishing to use EFT rather than cards for online purchases.

The merchants, however, loved what we had to offer. The Secure EFT solution simplified their back office. Up until then, all EFT online transaction had to be done manually. Payments would have to be done during office hours and required extensive human intervention. Our offering automated the process, taking away a big pain point, and the solution was well received and quickly spread by word-of-mouth.

Although the e-commerce market was still in its infancy at the time, the tourism industry was driving the demand in South Africa. Airlines immediately saw the benefit of offering an online service and they also realised the benefit of offering as many payment methods as possible to their customers. Secure EFT was a hit with them, and this helped us reach and educate South African consumers in high volumes. For us, it meant ensuring we had a rock-solid offering which would integrate with the banks and was able to process payments accurately, in a high-volume environment. There was no greater stress test for our product and we were able to refine our offering at a rapid pace.

Ten years on, online payments have moved forwards in leaps and bounds. Payments have become so seamless that they are almost invisible in the process. In-app payments and mobile wallets are popping up wherever you look. The focus now is on making payments as frictionless as possible. Apple has even taken a further step to include a payment button on its MacBook Pro keyboards. Facebook and Google are shifting their revenue models to leverage their ecosystems and payments are all at the core of their architecture.

Security remains an ever-present threat to e-commerce. In its 2017 security forecast, RSA Labs found that 60% of fraudulent transactions originated from mobile devices. Moreover, the company says in 2016, a new phishing attack was launched every 30 seconds and has forecast that card-not-present fraud will dramatically increase, reaching over $7 billion in the U.S. by 2020.

While the online threats are still very real, and more sophisticated than ever, customers are far more aware of risks. Moreover, new regulations are coming through which are enforcing better authentication and verification. High levels of awareness and user education, offered by both the banks and online merchants have helped reduce the customer’s fear of using online and mobile payments which are encouraging e-commerce growth.

Although still a small part of the overall retail spend, South African e-commerce is growing at a healthy pace of around 20% per annum and this looks to increase as more people become connected via mobile phones.

SiD’s growth is tracking this with a very healthy 30% year-on-year increase in transactions since we began this journey ten years ago. More importantly, though, a decade spent at the heart of the payments industry means we have ten years’ worth of experience in understanding what it takes to build a secure system that meets customer expectations. Innovation remains the fuel that keeps us relevant.

Many people who purchase goods and services on the web are sceptical of various online payment solutions. An online payment solution provider should give you peace of mind, great customer service and exceptional rates in addition to the easy use of e-commerce options.

A customer should be able to read all about the product or service before purchasing on the internet. With the knowledge of the product cost, delivery methods available, and return policies, customers can make good, safe decisions, and be protected in their e-commerce activity.

E-commerce businesses have benefited by using SiD Secure EFT as a payment method. With SiD, you will reach the widest market of online and mobile shoppers, at the lowest cost, with the lowest risk, as it is a safe online payment method. SiD payment is undoubtedly one of the top payment gateways in South Africa.

Benefits provided by SiD payment:

• The online payments you receive via SiD are 100% yours, guaranteed, as they are irreversible.
• Online sales may be increased by up to 25% only by offering a payment alternative to a credit card.
• Payments received are deposited directly into your bank account in real time.
• You will save on transaction fees as SiD payments are charged at a low 1.5% per transaction.
• The payments are made directly into your business or personal bank account.
• SiD payment allows you to eliminate the risk of chargebacks and fraud.
• You can reduce cart abandonment with the simplicity of SiD Secure EFT payments.

Above expectations, not only have we seen an increase in EFT sales volumes, but SID 2 has already succeeded in drastically reducing customer support queries being received. This clearly indicates that the new and improved payment flow is as simple as we intended it to be. With a slick new interface, SID Instant EFT now makes online payments even quicker and easier.

THE MOST IMPORTANT UPGRADES IN VERSION 2 INCLUDE:

• NO MORE APPLICATION DOWNLOAD
  By cutting out the application download, the SID payment process is quicker and easier.
• COMPATIBLE WITH ALL DEVICES & BROWSERS
  The SID solution is fully compatible with all mobile devices and all browsers, thereby allowing you to activate valuable new sales channels.
• SLEEK, STREAMLINED INTERFACE
  The SID payment pages have had a major facelift. The new look and feel focuses on driving transactions to completion.
• CAPITEC COMING SOON
  Watch this space, in the next two weeks your customers will have an additional banking option to pay with, added to the interface.

See for yourself how easy it is to pay using SID in this payment demo video:

We would love you to embed the video on your website, to demonstrate to your customers how SID 2 works. You may embed the video on your website by simply copying and pasting the below code on any webpage:

<iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/X3wNcUe8a38?rel=0&vq=720″ frameborder=”0″ allowfullscreen></iframe>

If you have any feedback on SID, get in touch with us on Twitter or Facebook.

We’re very excited about this milestone in making the online payments world a simpler place, and look forward to the ongoing journey with you.

SID Instant EFT was originally developed nearly 10 years ago, to satisfy an unmet need within the South African e-commerce market for an online payment alternative to credit card. The company set out to develop a payment solution that would facilitate EFTs with the ease and speed of online credit card transactions, but with no risk of chargebacks or fraud. SID was launched in 2007 and has since become the leading Instant EFT solution in South Africa. In recent years, more and more South African Payment Gateways have partnered with SID Instant EFT and now offer the solution as part of their payment services. Today, SID is proudly supported by Setcom, PayGate, MyGate, VCS and Peach Payments, making it the most widely supported Instant EFT solution in the country.

“We are honoured to be working with such distinguished partners.” said David Liu, SID Instant EFT CEO, “Together, our goal is to provide the SID payment service to each and every e-commerce website in South Africa. Ultimately, this will ensure that South African consumers always have a secure payment alternative available to them when they’re shopping online.”

2016 has ushered in a new era for this popular payment solution with the launch of SID 2.0, which boasts a sleek new, responsive design, as well as optimised compatibility across all devices, including mobile phones and tablets. Upgrades to the payment method also include a simplified payment process, whereby customers are no longer required to download the SID application in order to complete a payment.

Customers can complete online purchases within minutes by selecting the SID payment method when they’re shopping online. SID then seamlessly facilitates a secure once-off payment via the customer’s trusted internet banking page. As with normal EFTs, SID payments can only be completed once the customer enters a One-time PIN received from his/her bank or responds to a push message received from the bank. SID ensures that the payment details are 100% correct, and guarantees the successful transfer of funds directly to the merchant’s bank account. Funds are never held by SID, as with other EFT solutions. Merchants can, therefore, issue an instant payment receipt and the customer’s order or booking can be confirmed immediately.

The SID payment method is available on hundreds of South African websites, across various industries, including airlines like kulula.com, Mango and FlySafair; hotel groups like Tsogo Sun and Peermont; passenger bus services like Intercape, TransLux and City to City; delivery services like DHL and The Courier Guy; online stores like Dis-Chem, Interflora and The GADGET Shop, to name a few. For more information about SID Instant EFT, or if you’d like to integrate SID 2.0 onto your website, visit www.sidpayment.com.