More than 51 percent of South Africa’s informal enterprises have encountered strong customer interest in paying by card, yet around 90 percent of them continue to run as cash-only businesses. This is according to Insights into the Informal Economy Report, a Mastercard study released at the company’s Digital Indaba in Cape Town last week. Despite
More than 51 percent of South Africa’s informal enterprises have encountered strong customer interest in paying by card, yet around 90 percent of them continue to run as cash-only businesses. This is according to Insights into the Informal Economy Report, a Mastercard study released at the company’s Digital Indaba in Cape Town last week. Despite
The Direct Pay Online Group (DPO) announces the acquisition of Setcom (Pty) Ltd, which operates SID Instant EFT, the original and leading instant electronic funds transfer (EFT) solution in South Africa. The deal will complement DPO’s comprehensive suite of payment solutions across the continent, which currently includes processing for all major cards, mobile money and
In a Black Friday that saw the spike in volumes challenge many eCommerce companies, payment services provider, PayU, facilitated an increase of around 8.5 times the transaction volumes from last year and experienced 0% downtime across all of their system components. “Despite the massive increase in transaction volumes for our South African merchants, our platform
As South African consumers and retailers prepare for the shopping spree associated with the international trend of Black Friday and Cyber Monday, the real achievement for the country will be the expected improvement in the adoption of e-Commerce. Dr Christoph Nieuwoudt, CEO of FNB Consumer says, South Africa’s e-Commerce is likely to get a boost
As South African consumers and retailers prepare for the shopping spree associated with the international trend of Black Friday and Cyber Monday, the real achievement for the country will be the expected improvement in the adoption of e-Commerce. Dr Christoph Nieuwoudt, CEO of FNB Consumer says, South Africa’s e-Commerce is likely to get a boost
Mastercard is collaborating with Durban-based tech company Spazapp, to bring secure, seamless and convenient mobile payments to thousands of informal traders and convenience stores, better known as spaza shops, in South Africa. By combining their expertise and reach, the companies intend to unlock economic growth by helping informal micro-businesses connect to formal markets and digital
A combination of innovation, talent and investor savvy has propelled a Stellenbosch tech firm to the forefront of the international mobile security and authentication industry. Entersekt protects digital service providers and their customers from digital banking and payments fraud, particularly when transactions take place on mobile devices. Smartphones are emerging as the primary platform for
PayPal has announced the launch of its Seller Protection Programme in some Sub-Saharan Africa countries, in an effort to empower local businesses to trade online, both locally and globally with confidence and peace of mind. PayPal’s Seller Protection Programme is designed to help protect merchants from buyer’s claims, chargeback, and reversals, so that they are
Direct Pay Online Group (DPO) has received a second investment of $5M from the UK based private equity fund, Apis Partners. This investment, which follows the initial $10M investment made last year, will be used to fuel DPO Group’s ambitious strategic plan which includes organic growth across Africa, strengthening the Group’s position through mergers and
