Global payment solutions company EBANX has announced a major move that will reshape how South Africans shop online. The fintech giant has officially integrated Capitec Pay, South Africa’s leading open banking, real-time payment solution, into its global portfolio. This marks EBANX’s first open banking venture outside Brazil and positions the company as one of the few global Payment Service Providers (PSPs) offering Capitec Pay for cross-border e-commerce. Capitec Pay, introduced by Capitec Bank, is the first large-scale account-to-account (A2A) payment system in South Africa. With this integration, international merchants across industries like online retail, gaming, streaming, and subscription services can now give South Africans a faster, safer, and card-free way to pay. Wiza Jalakasi, Director of Africa Expansion at EBANX, highlighted the potential of this new solution, noting that South Africa is one of Africa’s fastest-growing digital markets, with e-commerce penetration already at 73% and projected annual growth of 18% through 2027. According to Jalakasi, “By integrating Capitec Pay, we are increasing access for over 20 million South African consumers to global digital commerce and enabling merchants to tap into a tech-savvy, mobile-first audience.”
Why Capitec Pay Matters for Online Shopping
What makes this development so important is the scale of Capitec’s customer base. The bank serves 24 million users, which is 57% of South Africa’s adult population, and more than 13 million of them actively use its mobile app. By comparison, only 10% of South African adults have ever used a credit card, according to World Bank data. Capitec Pay has already proven itself at home, boasting a conversion rate of over 85%—higher than most credit cards and alternative payment methods. For Nigerian readers familiar with the challenges of online payments, this signals how open banking could transform Africa’s e-commerce sector, where card penetration remains low but mobile-first solutions are rapidly gaining ground.
Chris Zietsman, Executive Head of Capitec Business Payments, explained the broader vision: “Capitec Pay was built on the premise of empowering our customers with secure, convenient, and real-time payment options. With EBANX, we are not only extending this commitment to cross-border transactions but also setting a new standard for open banking in the region.”
The Future of Payments in Africa
Capitec Pay uses secure APIs and customer consent to enable direct, instant payments from users’ bank accounts. This eliminates the need for cards or intermediaries, creating a seamless in-app shopping experience. Beyond one-off payments, it also supports subscriptions through a Variable Recurring Payments feature, which allows customers to safely approve repeat transactions. For consumers, the benefits include faster checkout, full control over payment flow, and reduced risk of fraud since sensitive financial information is not shared. For merchants, the integration offers quicker settlements, lower processing costs, and improved protection against chargebacks.
“Open banking is one of the most transformative trends in financial technology,” Jalakasi emphasized. “Capitec Pay stands out for its consumer-first design and technical integrity. EBANX is proud to be at the forefront of bringing this innovation to global merchants. It is a major step in democratizing access to digital services in South Africa and building the infrastructure for inclusive commerce.”
The partnership will be showcased at the 8th EBANX Payments Summit in Mexico City from September 17 to 20, where Zietsman will deliver a keynote on the rise of real-time, cardless payments. For Africa, this collaboration signals a future where e-commerce growth is no longer limited by low card usage but powered by smarter, mobile-first payment solutions.
