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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)

Payment Methods in South Africa

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

VOUCHER

QRCODE

ABSA

Wire Transfer

Capitec Bank

Wire Transfer

First National

Wire Transfer

Investec Bank

Wire Transfer

Nedbank

Wire Transfer

Standard

Wire Transfer

TymeBank

Wire Transfer

Bidvest Bank Grow

Instant Bank Wire

ABSA

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

MTN Mobile Money

Mobile Money

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