Fintech Innovation Drives New Era Of Dynamic Financial Inclusion In South Africa

Colin Campbell | image supplied

1. Financial inclusion is becoming dynamic

With around five million South Africans now working in the gig economy and earning irregular incomes, and more than 13 million being part of the informal sector where financial information is not necessarily fed through to credit bureaus, access to responsible credit is still largely decided through static assessments and therefore remains limited.

Fintechs are moving towards dynamic inclusion models that evolve over time. Alternative credit data, such as payment consistency, spending patterns and account behaviour, is being used to build a more accurate and fair view of affordability. This allows access to grow as customers demonstrate positive financial behaviour, rather than being decided by a single score or moment in time.

2. Buy now, pay later now in the mainstream

Buy now, pay later is no longer a niche product. Usage doubled in 2025, showing that consumers are increasingly comfortable with alternative ways to pay.

For many users, BNPL is a cash-flow management tool rather than a form of long-term debt. For merchants, it has become a core payment infrastructure that improves conversion while offering insight into real spending behaviour.

3. The rise of a unified destination

Consumers are tired of managing payments, credit, savings and shopping across multiple apps. The friction is no longer worth it.

Fintechs are responding by building unified digital destinations where these services live in one place. This shift is being driven largely by Gen Z, who value speed, transparency and simplicity over traditional financial structures.

As this group becomes the dominant consumer cohort, with spending power expected to reach $12tn by 2030, their expectations are shaping product design. They want fewer apps, less admin and a clearer view of their financial lives.

For fintechs, a unified destination simplifies the customer experience while providing better insight into real behaviour, enabling more relevant and responsible financial services.

Fintech in South Africa is entering a more practical phase. The next wave of growth is coming from systems that are flexible, transparent and built around real financial behaviour. For both consumers and businesses, success in 2026 will depend on how well technology supports participation, not just access.