Tag: PaymentInnovation

South Africa's payments ecosystem has evolved rapidly over the past few years. At the point of sale, a consumer can tap or insert a card, open a banking app and make a PayShap transfer, scan a QR code, or split the purchase across three interest-free instalments using PayJustNow or Payfex. They can also tap their phone to pay via digital wallet.

Connecting to a real-time payment rail is the straightforward part. Delivering an experience that genuinely feels instant is where the real work and the competitive advantage lie. There is plenty of excitement about real-time payment rails at the moment. Most of it is justified. Moving money in seconds rather than days changes what a business can offer the people it serves.