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RETAIL NEWS
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News that informs and inspires in the retail industry
Shoprite offers contactless QR payments
T
he Shoprite Group’s customers can now pay for groceries with their phones as the retailer continues to find new ways to keep its stores, customers and employees safe during the Covid-19 pandemic.
Making QR payments available in stores and on its websites is also in line with the Group’s strategic focus on developing future-fit channels as it continues to roll out new innovations.
It is the first South African food retailer to offer dynamic QR payments which will be available at the tills in all Shoprite, Usave, Checkers and Checkers Hyper stores within the next two months. Customers simply have to scan the QR code at the till point with their phones and pay with Masterpass, SnapScan, Zapper, FNB Pay or Nedbank Pay in any of the Group’s stores.
Jean Olivier, the general manager for financial services for the Shoprite Group, says, “As retailers, we must meet the challenge of the new shopping environment to deliver outstanding product research and buying experiences. Rolling this payment method out enhances our customers’ shopping experience with more options and greater convenience.”
As the retailer uses a dynamic QR code, the amount payable will automatically display on the customer’s phone, leaving little room for error. This development, in line with the Group’s strategic commitment to put its customers first and make shopping more convenient for them, allows customers to shop even if they forgot their wallet at home or would prefer not to carry cash or touch the pin pad.
The QR code was built on the EMVCo standard with the help of Mastercard and one of the Group’s technology partners, Electrum. It is currently available in 29 Checkers stores and will be rolled out to all stores across South Africa within the next two months. The rest of the continent will follow as soon as possible.
Coca-Cola launches Ikageng Employee Share Trust
C
oca-Cola Beverages South Africa (CCBSA) has launched its landmark Ikageng Employee Share Trust that will offer its employees shares and direct economic participation in the business. Ikageng will benefit nearly 8 000 South African-based employees at CCBSA, Coca-Cola Beverages Africa (CCBA) and Appletiser. Every employee will receive an equal allocation of shares through the established Ikageng Trust regardless of staff level, race or years of service. “We remain committed to the ideal of transformation and B-BBEE, and this investment is driven by the recognition that employees are our biggest asset, as they enable innovation,
growth and the sustainable development of our company,” says Velaphi Ratshefola, managing director of CCBSA. “As part of our mission to create shared opportunity and value throughout our business, we want employees to have a vested interest in delivering an enhanced value while influencing and directly participating in the company’s long-term vision of sustained profitability.” Ikageng means “let us build ourselves”, a Setswana name chosen by one of the employees. It is a name that was generated internally through a staff campaign, which reaffirms that employees own more than just a share, but the spirit and identity of the company they work for.
“Since inception in May 2016, CCBSA took a bold step to contribute meaningfully to the country’s ideal to be an inclusive and transformed organisation. We committed ourselves to becoming a level 2 contributor by 2021 and set off on our journey to achieve this,” Ratshefola continues. The Ikageng Trust holds a shareholding in CocaCola Fortune, which in turn owns 100% of CCBSA. The equity ownership is substantially higher than the 3% required by the B-BBEE Codes. The Trust is fully funded through notional vendor funding (NVF), with a portion of the dividends reducing the NVF and a portion paid to beneficiaries. This allows for the NVF amount to be settled and the transfer of a higher net value
