ATMIA Africa Publishes New Industry Study on Retail Payment Trends in South Africa
Written by: MyPressportal Team Save to InstapaperThe African chapter of the ATM Industry Association has published a commissioned study on retail payment trends in South Africa for its online member Market Intelligence Library.
“With 12 million new consumers added to the economy in the last ten years, along with an expanded banked community, the payments pie is getting bigger and bigger,” explained CEO, Mike Lee. “At the same time, digital and mobile banking are giving new power to these consumers.”
The report was authored by Calleo, ably led by Andrew Dean, ATMIA Africa’s new payments adviser.
”The South African retail market needs to cater for a wide range of payment acceptance methods,” commented Dean. “The market serves a diverse consumer base that still predominantly pays in cash, however, bank card penetration is rising rapidly. Many are also still waiting for mobile payment solutions to achieve wider adoption. From a security perspective South Africa has already implemented EMV and 3D Secure for bank card payments. The next frontiers on payment methods are likely to be contactless card payments and mobile proximity payments, although the sentiment is that these are likely to grow in specific retail applications before possibly later maturing to widely adopted payment methods.”
Members can access the report by logging on to the ATMIA website. The Market Intelligence Library is located under the Education tab.
“This report provides a starting point for developing an understanding of the nature of the retail industry in South Africa, the traditional and emerging payment methods and the growing role of South African retailers in consumer financial transactions,” Dean added.
Latest from
- President Ramaphosa Arrives In Canada For G7 Outreach Session Focused On Energy Security And Global Collaboration
- TBWA\Hunt\Lascaris And Razor PR Shine In Cannes 2025 Engagement Lions Shortlist With Impactful Campaigns
- JOE Public Opens SA's Account At #cannes2025
- Life Healthcare Partners With PinkDrive To Ensure Timely Cancer Screening For Women In Public Health System
- H&M South Africa Invests R800 000 In Star For Life Partnership To Empower Girls And Fight Gender-Based Violence
- South Africa- Police Chairperson Welcomes Service Interventions, Especially Adoption OF Technology And Capacitation OF Detectives
- What Every South African Taxpayer Should Know This Tax Season
- JRS Solutions Successfully Exits Action ESD Fund
- Rainmaker Marketing Partners With Hirsch's Homestores
- Redefining Leadership For Impact - Why The Right Hires Now Shape Tomorrow's South Africa
- How Hostafica Helps Businesses Expand Into Africa With In-country Hosting And Servers
- Anelisa Zungu On Youth Voice And The Power Of Believing In Your Place In South Africa’s Future
- Musk's Spacex Targets Overberg Test Range, Unlocking Infrastructure Investment Opportunities
- From Humble Beginnings And Heartfelt Hospitality - Tshiberry B&B's Sweet Success Story
- Effie Lions Foundation Launches TO Futureproof The Marketing Industry
The Pulse Latest Articles
- This Father’s Day, Raise A Pura To The Dads Who Keep It Real (June 13, 2025)
- Winter Hydration Just Got A Glow Up (June 10, 2025)
- Work From Anywhere: Emails, Elephants & Espresso: The New Office Life (June 10, 2025)
- Xlink Crowned Technology Company Of The Year At The Africa Tech Week Awards 2025 (June 5, 2025)
- Celebrate International Day Of Play With The Weirdest (and Most Wonderful) Toys Of 2025 (June 4, 2025)