Canva unlocks recurring cardless payments in South Africa via Capitec Pay
Canva became the first merchant to integrate Capitec Pay recurring payments through EBANX offering South African users cardless account to account subscription access
Canva, the leading visual communication platform, has made history by becoming the first international company to provide recurring subscription payments in South Africa through Capitec Pay, a payment method developed by the country's largest personal bank, Capitec. This achievement is made possible through Canva's collaboration with EBANX, a global technology company specializing in payment services for emerging markets.
South Africa's e-commerce market is valued at $23 billion, and it presents a significant opportunity for global businesses. However, traditional card-based payment models have been a barrier due to low credit card penetration – only 8-10% of the adult population in South Africa owns a credit card. Capitec Pay enables customers to approve recurring payments once in the Capitec app, allowing businesses to collect future payments automatically.
This innovative solution has opened up access to 44 million South Africans who do not have credit cards, representing a substantial market expansion for global subscription businesses.
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