SnapScan is a free mobile application that allows customers to make outrageously simple payments directly from their cell phones. We wanted a quick and easy way to pay. That’s why everything about SnapScan is designed to make paying for things and accepting payments really simple.
Proof of transactions and Payment:
Each time that a customer scans your SnapCode (your unique QR code) and successfully makes a payment to you, you will immediately receive an SMS notification as proof of transaction. Further, when you sign up as a merchant you can select whether you wish to receive daily/weekly/monthly reports of all transactions made to you that will be emailed to you by the SnapScan team.
How does one sign up as a merchant with SnapScan?:
It is very easy to sign up as a merchant with SnapScan. If you are a Standard Bank account holder, you can sign yourself up via our website (www.snapscan.co.za). If you are not a Standard Bank account holder then they can begin the signup process via our website and you will receive further feedback regarding the completion of your registration.
The only cost to using SnapScan as a merchant is a 3% transaction fee. This is in line with (and in some cases, cheaper than) the fees charged by credit card machine providers. There is no hardware requirement to use SnapScan as a merchant, and no sign-up or flat monthly fees.
Settlements of Transactions:
SnapScan settles transaction amounts using a daily settlement system. This means is that at the end of each day, all transactions for each merchant are totaled and these amounts are settled manually the next business day. If you bank with Standard Bank, this settlement will reflect in your account immediately, as we settle from a Standard Bank account.
If you bank with another bank, the normal bank delays occur and it may take up to 3 working days for the funds to reflect in your account, depending on which day the settlement was made and taking into account weekends and public holidays. All transactions made to merchant over the weekend are settled by SnapScan on the Monday morning (or the next business day, in case of public holidays).