South Africa - PayAmigo

SOUTH AFRICA

Debit cards are the most common payment option, thanks to rising bank account ownership, increased use for minor purchases, the emergence of digital-only banks, and the growing popularity of contactless payments. This trend is predicted to continue until 2025.
Mobile banking apps and online bank transfers are increasingly popular for both local and international transactions. To improve security and decrease fraud, the 3D Secure system was adopted in 2014, making online buying easier by reducing the risk of payment failures.
Digital wallets are fast gaining popularity in South Africa, accounting for about 17% of transactions. Key drivers include the convenience of local e-wallets like SnapScan and Zapper, the global reach of Samsung Pay, and the rise in online services.
Despite a significant push toward cashless options, cash remains deeply entrenched in South Africa’s financial habits. Only 14% of consumers are open to fully abandoning cash, indicating a continued need for both cash and cashless payment methods.

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