Tag: electronic payment

Recent research into the South African payments industry has revealed that there is a clear trajectory towards the adoption of electronic payments. This transition not only reflects evolving consumer preferences but also presents promising opportunities for all stakeholders within the ecosystem.

International Fraud Awareness Week is taking place from 14-20 November, highlighting an increasing problem that organisations around the world are facing. According to the Association of Certified Fraud Examiners (ACFE), businesses lose around 5% of their annual revenue globally due to fraudulent behaviour, which experts estimate amounts to a total annual loss around the world of $3.7 trillion.

Is 2020 the year when we finally let go of our unhealthy relationship with cash payments and usher in a new era of financial and digital inclusion? Widespread access to digital and financial services is a cornerstone of a healthy 21st century economy.

Digitalisation was already a key theme in the growth strategies of financial services providers before the global COVID-19 pandemic struck. The need to innovate in response to shifting customer demands around engagement and experience, rising industry disruption from digital-native challenger banks or pivots from major digital-native businesses, and the need to respond to a dynamic regulatory environment has spurred digital transformation and entrenched an innovation agenda across the industry.