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South Africa

South African rand (ZAR)

While cash and card usage remain prevalent in South Africa, a wide variety of digital payment methods are gaining popularity, such as cryptocurrency, digital cards, biometric payments, open banking, and Buy Now Pay Later (BNPL). 95% of consumers recently reported using at least one digital payment method

South Africa flag

Population

59,392,255

Banked Population:

85.38%

Group 427321246

Main industries

Mining and Manufacturing

Group 427321247

Main imports

Crude & Refined Petroleum, Motor Vehicles (parts & accessories),
Cars, and Broadcasting Equipment

Group 427321248

Main exports

Gold, Platinum, Coal Briquettes, Cars, and Diamonds

GDP stats

$7,055

Per capita (USD)

4.9%

Growth annually

32

World ranking

Internet usage

70%

Smartphone usage

60%

Credit/debit card usage

69%

Population transacting electronically

60%

Group 427321245 1

Total volume of digital payments projected to reach

$16.57B (USD)

MTN Mobile Money

Mobile Money

Capitec Bank

Wire Transfer

First National

Wire Transfer

Investec Bank

Wire Transfer

Nedbank

Wire Transfer

Standard

Wire Transfer

TymeBank

Wire Transfer

QR Code

ABSA

Wire Transfer

Bidvest Bank Grow

Instant Bank Wire

Capitec Bank

Instant Bank Wire

First National

Instant Bank Wire

Investec Bank

Instant Bank Wire

Nedbank

Instant Bank Wire

Standard Bank

Instant Bank Wire

TymeBank

Instant Bank Wire

African Bank

Instant Bank Wire

ABSA

Instant Bank Wire

MTN Mobile Money

Payout

Grindrod Bank

Payout

HSBC South Africa

Payout

Imperial Bank

Payout

Investec Bank

Payout

Mercantile bank

Payout

Nedbank

Payout

Old mutual bank

Payout

ABSA

Payout

Sasfin Bank

Payout

Access Bank South Africa

Payout

Standard Bank

Payout

African Bank

Payout

Standard Bank Namibia

Payout

Bidvest Bank Grow

Payout

TymeBank

Payout

Capitec Bank

Payout

UBank

Payout

Discovery bank

Payout

Windhoek bank

Payout

FirstRand Bank

Payout

Zenith Bank South Africa

Payout

First National

Payout

First National Bank Namibia

Payout

Payment Methods in South Africa

All
  • All Methods
  • Payout
  • Mobile Money
  • Wire Transfer
  • QR Code
  • Instant Bank Wire

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