South Africans’ heavy reliance on cash, instead of using advanced digital payment rails, costs the economy more than R30-billion/year.
This is according to Tim Masela, head of the National Payments System at the Reserve Bank, whose commentary in the Payments Association of South Africa’s (Pasa’s) annual report notes that positive strides taken to digitise the payments ecosystem have been overshadowed by South Africans being slow to adopt digital payment methods.
“In collaboration with the payments industry, the Sarb has advanced the provision of seamless, safer, convenient, affordable and faster digital payment offerings,” Masela said in the report. “While it is encouraging to see…
E-commerce Growth: The e-commerce sector in South Africa is rapidly growing,
with increasing online shopping and digital payment solutions.
Pockets
Oscar Pistorius. Not the first South African with a race problem.
Mirage
I told my dad to embrace his mistakes. He cried, then he hugged me and my sister