Tag: digital wallet

Capitec, South Africa’s largest digital bank, announced another six months of strong growth. Headline earnings rose 26% to R8 billion in the period from March 2025 to August 2025.

In meeting its policy commitments and addressing regulatory challenges posed by the rising prominence of non-bank payment operations, the South African Reserve Bank (SARB) published two draft documents in the first quarter of 2025. In their policy document, colloquially referred to as Vision 2025, the SARB presents its vision for modernising South Africa’s National Payment System (NPS).

By 2030, Generation Z (Gen Z) will be the biggest-spending generation across much of Sub-Saharan Africa. Already, South Africa's youngest consumers are transforming how the country pays. I have seen that for Gen Z, speed, choice and digital convenience are not just nice to have. They are non-negotiable.

The future of payments is digital, but lasting impact will come from trust and transparency. Digital transformation is reshaping the South African payments landscape driving greater transparency, regulatory compliance and inclusive innovation. But beyond the technology, it’s also redefining how the financial ecosystem anticipates, manages and mitigates risk.

The widespread adoption of digital wallets is transforming the global financial landscape. Africa leads this transformation with rapid growth in usage. A recent Juniper Research study reveals that over two-thirds of the global population will own a digital wallet by 2029. This shift represents a major departure from traditional payment methods. Africa showcases this trend more than any other region.

Conversations about the war for talent in financial services have persisted for many years. Competition to attract skilled individuals has always been intense, with high demand for talented professionals. This competition has intensified recently as hiring activity accelerates to meet today's significant challenges.

The pivotal role of digital accessibility for goods and services has become abundantly clear over the past few years. The global economy, now more than ever, relies on the seamless flow of transactions across borders. Whether it involves individuals, businesses, or financial institutions spanning different countries, the realm of cross-border payments has taken center stage in our interconnected world.

The “cashless revolution” spurred by the COVID-19 pandemic has proven durable and persistent. PwC’s Payments 2025 & beyond publication, released in 2021, reported a 42% increase in global cashless payment volumes. The 2023 McKinsey Global Payments Report found that global cash usage continued to decline – by four percentage points year on year – and that the growth rate of electronic transactions was nearly triple that of the overall growth in payments revenue.

In the vast expanses of the African continent, a beacon of entrepreneurship and innovation shines brightly. Nestled at its southernmost tip, South Africa is not just a country, it's a dynamic marketplace brimming with potential. Yet, it's not just the sprawling savannahs or the captivating cultural heritage that make this nation remarkable.

A new report provides an overview of the financial technology (fintech) regulatory frameworks of 39 jurisdictions across Africa, Asia Pacific, Europe, North America and South America. The report, titled Fintech: how is the world shaping the financial innovation industry?, addresses how different regulators around the world are dealing with the application of technology and innovation to banking and financial services as well as society’s present concerns.