While AI and Machine to Machine (M2M) technology are nothing new, they are being deployed with greater speed and efficiency, and in more contexts within the South African payments and e-commerce environment. According to Andrew Springate, CEO of tech and financial gateway service provider PAYM8, the real potential of these technologies is just starting to
In 2020, the South African e-commerce market grew by 66% and is now expected to be valued at R225 billion by 2025. As small businesses make the move into digital commerce, so begins the search for online payment methods that can offer security and reliability at a rate that maintains realistic profit margins. Now, financial
Mukuru, one of the largest remittance companies in Africa and a leading next generation financial services platform, has announced that its Mukuru Card has been activated for online purchases in South Africa, allowing holders of the card to take part in the eCommerce revolution even if they don’t hold traditional bank accounts. Mukuru CEO Andy
South African expense management solution SlipMate has announced that it has enabled e-commerce functionality for its Mastercard corporate prepaid cards, a first-of-its-kind integration for the South African market. SlipMate is an intelligent expense management solution designed by Innervation Rewards that enables South African companies to reconcile employees’ corporate expenses from their Mastercard prepaid corporate card,
New patterns emerge as online shopping evolves PayU, the emerging market payments leader, reveals that everything from the late-night shopping frenzy, to payment methods, to basket size has changed when it comes to Black Friday. Despite a significant increase of 30 percent in transaction volumes compared to last year, the total spend for the day
ACI Worldwide, a leading global provider of real-time payments and digital payment software, has been recognized as the winner in the Best Online Payment Solution – Merchant category for its ACI Secure eCommerce solution at last night’s UK Payments Awards, held at the Grosvenor Hotel in London. The Awards recognize and celebrate companies that have demonstrated excellence and innovation in the
South Africa’s retail sector has entered the age of ecommerce, with total online retail sales expected to reach R42-billion by the end of 2021. From the rise of contactless payments to the boom in social commerce, the pandemic has significantly altered consumer expectations when it comes to making purchases online. To unpack the major trends
With the easing of lockdown restrictions, Absa has witnessed a 231% increase in contactless card volumes (tap to pay) across debit and credit cards this year. With Black Friday once again falling over the pandemic period, consumer and retailer behaviour has been significantly altered, signaling a shift in how people transact as one of South Africa’s
Standard Bank customers in eight African countries to enjoy enhanced digital payments experience in partnership with Flutterwave Standard Bank, Africa’s largest bank by assets, has partnered with Flutterwave, Africa’s leading payments technology company, to enhance digital payments experiences for its customers in Nigeria, Zambia, Tanzania, Uganda, Ghana, Mauritius, Cote D’Ivoire and Malawi. Flutterwave and Standard Bank
By Paul Kent, CEO at Adumo The early stages of the pandemic were marked by a sudden shift away from cash purchases as consumers sought to limit their exposure to items that were seen as unclean. Industry figures indicate that 89% of South African consumers have used contactless payments to purchase groceries since the start
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