Cash continues to power everyday transactions for millions across the nation.
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.released in August 2024, South Africans use cash most often as a payment method , regardless of what they buy. Only 15% use cardless payments and 8% opt for credit card, while debit card payments are ubiquitous at 75%.
“Cash remains a meaningful part of the payments ecosystem, with many South Africans relying on it for everyday transactions and bill payments. While digital transactions are on the rise, the demand for cash and accessible, conveniently located ATMs is strong, and at 55%, ATMs remain the dominant point to access cash,” he continues.
Cash withdrawals have become more affordable, with banks such as Standard Bank and Capitec no longer charging their clients a Saswitch network fee, so customers aren’t paying extra to withdraw from other bank ATMs. According toATM Solutions, a Paycorp group company, plays a critical role in this ecosystem by providing over 4 500 Cash Express ATMs in under-served and key rural, urban, retail and hospitality locations across South Africa.
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