COVID-19: South Africa’s catalyst for change towards a rapid and reliable digital payment system

Overview

South Africa is striving towards a payments future that promotes financial inclusion, reduces costs and helps stimulate the economy.  To realise this, the country’s payment platforms will have to evolve from commoditised propositions into strategic solutions that complement and add value to people’s lives. Although the circumstances are unfortunate, COVID-19 may be the long-awaited catalyst needed to spark growth and motivate the industry to overcome some of the biggest challenges facing South Africa’s payment sector.