Martin Wright, CEO of Kazang explores how micro-merchant card acceptance is driving digitalization in South Africa.
The rise of card acceptance devices in South Africa’s informal and micro-merchant sectors is reshaping consumer behavior and driving significant economic changes. The availability of affordable card acceptance is transforming these sectors, making it easier for merchants and consumers to embrace the convenience of cards.
The convergence of increased card penetration and fintech innovations has propelled the digitalization of the informal sector, leading to inclusion and economic growth in previously underserved communities. The Lesaka Informal Economy Digitalization Index shows a significant shift towards card-based transactions, indicating changing merchant and consumer behavior.
In addition to streamlining cash handling and reducing risks, card transactions help merchants increase basket sizes and attract more customers. Digitalization also simplifies sales tracking and creates a financial footprint that could facilitate access to loans and other financial services for merchants. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
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