SnapScan, the Cape Town-based fintech company that launched its QR code payment technology in 2013, is no stranger to developing innovative payment tools. Its latest product, the SnapStore Pro card machine, is no exception.
After years of supporting small businesses with convenient, mobile payment solutions, the fintech has recently leveraged its partnership with Standard Bank to develop an exciting new card machine to improve the payment experience for both businesses and their customers.
“SnapScan and Standard Bank both recognised the need to provide the most in-demand payment options for small businesses with the kind of fintech pricing and experience they’ve come to expect from us,” says Marin Cundall, SnapScan CEO.
One card machine, many ways to get paid
“While there are other great card machines out there, we believe our SnapStore Pro is superior because it’s built for small businesses to accept all payment types in one space,” says Cundall. “Combining card and gadget pay acceptance with our QR offering allows us to make it as simple as possible for small businesses to offer their customers the best payment options. Combining these payment options through one provider also means lower rates!”
By combining these payment options into one device, the SnapStore Pro allows businesses to service more customers in less time. Businesses can spend less time switching between payment tools and more time focusing on what matters most: their customers.
With the SnapStore Pro, customers can tap, insert, or swipe their bank cards, scan the on-screen SnapCode, or use Apple Pay, Samsung Pay or Garmin Pay. Businesses can also record their cash payments on the device.
“Our merchant base is incredibly diverse – we support people from all walks of life. From those with side hustles to brick-and-mortar retailers and everyone in between,” says Kurt Kruger, SnapScan CPTO. “The most important consideration for us was building a smartPOS that anyone could pick up and use immediately, and that would be able to support all SMEs from day one and grow with them as their businesses flourish.”
“The SnapStore Pro is affordable, portable, rugged, and lightning-quick. It is also mostly future-proof – we have yet to tap into the full capabilities of the device. We will be releasing new features in the coming months to better help SMEs grow their businesses.”
Along with accepting face-to-face sales, businesses can also manage their transactions with the SnapStore Pro card machine. Businesses can quickly view their transaction history to keep track of, identify and reconcile their transactions from the same device they use to accept payments.
The SnapStore Pro is a standalone card machine that works without being connected to a smartphone or tablet. The snappy new card machine is WiFi-enabled and comes with a SIM card preloaded with free data.
Easy payments, snappier cash flow
SnapScan settles every business day, which means businesses accepting payments via the SnapStore Pro card machine will have faster access to their hard-earned cash. Businesses that bank with Standard Bank will receive a next-business-day settlement, while other businesses will receive their settlement within 2 – 3 business days.
The SnapStore Pro retails for R999, with no additional monthly or settlement fees. Plus, since SnapScan’s transaction fees are dynamic, the more businesses transact, the less they pay. Their transaction fees will be based on the previous month’s turnover, starting at 2.95% (excl. VAT) and decreasing to 2.55%(excl. VAT).
To use the SnapStore Pro, businesses must first sign up for a SnapScan merchant account. Once their account is verified, their SnapStore Pro will be delivered within 2 – 3 business days.
In addition to their SnapStore Pro, businesses will also receive access to SnapScan’s wide range of payment solutions at no additional cost. Businesses can integrate SnapScan into their online store, as well as get paid remotely by sending their customers a SnapLink. Both payment solutions allow customers to pay using their SnapScan app or their bank card.