Even with a high banked population and a multitude of electronic payment options available, the average South African still use cash for daily purchases and payments with an estimated 78-80% of transactions being in cash.
Anton van der Merwe, the recently-appointed COO of Ukheshe Technologies, a fintech enablement partner that works with financial institutions to grow in the rapidly-expanding digital space, says that for these reasons alone, the opportunities for digital payments are set to boom.