Throughout South Africa’s townships, rural and peri-urban areas consumer behaviour is changing as card device penetration grows.
This indicates that merchant acceptance in the informal and micro-merchant sectors is a missing link in payments digitalisation in South Africa.
“At the same time, fintech companies have made it simpler and more affordable for micro-merchants to accept card payments,” he adds. More than 90% of these digital volumes are from debit cards, suggesting significant shifts in merchant and consumer behaviour. This implies that the micro-merchant has become the go-to for daily essentials in townships and rural areas.
“People can buy their prepaid electricity and airtime from a merchant within their community, buy their food staples and even draw cash without needing to spend money on transport. This brings convenience and lower costs to the people who need it most.”
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