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Financial Cards and Payments in South Africa

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    Report

  • 65 Pages
  • January 2026
  • Region: South Africa
  • Euromonitor International
  • ID: 1209029
Financial cards and payments in South Africa witnessed robust growth in 2025, backed by an improving economy and ongoing transformation as digital adoption, fintech innovation, and regulatory reforms led to new consumer banking products and services.

This Financial Cards and Payments in South Africa report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, Mobile Payments, Transactions.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Financial Cards and Payments market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

EXECUTIVE SUMMARY
  • Digital evolution brings innovation to financial cards and payments
KEY DATA FINDINGS
INDUSTRY PERFORMANCE
  • Lower interest rates support uptick in consumer confidence
  • Digital technologies continue to transform consumer banking services
  • South African Reserve Bank opens national payment system to fintechs under new regulations
  • Postbank continues to encounter challenges with SASSA terminating their contract
WHAT’S NEXT?
  • Bright outlook for the evolving financial cards and payments industry
  • Retailers and foreign banks will reshape the competitive landscape
COMPETITIVE LANDSCAPE
  • Digital-first brands make a play in highly competitive landscape
  • Visa and Mastercard remain dominant card operators
  • Consolidation marks period of strategic expansion amid fintech integration
MARKET INDICATORS
  • Table 1 Number of POS Terminals: Units 2020-2025
  • Table 2 Number of ATMs: Units 2020-2025
  • Table 3 Value Lost to Fraud 2020-2025
  • Table 4 Card Expenditure by Location 2025
  • Table 5 Financial Cards in Circulation by Type: % Number of Cards 2020-2025
  • Table 6 Domestic versus Foreign Spend 2025
MARKET DATA
  • Table 7 Financial Cards by Category: Number of Cards in Circulation 2020-2025
  • Table 8 Financial Cards by Category: Number of Accounts 2020-2025
  • Table 9 Financial Cards Transactions by Category: Value 2020-2025
  • Table 10 Financial Cards by Category: Number of Transactions 2020-2025
  • Table 11 Consumer Payments by Category: Value 2020-2025
  • Table 12 Consumer Payments by Category: Number of Transactions 2020-2025
  • Table 13 M-Commerce by Category: Value 2020-2025
  • Table 14 M-Commerce by Category: % Value Growth 2020-2025
  • Table 15 Financial Cards: Number of Cards by Issuer 2020-2024
  • Table 16 Financial Cards: Number of Cards by Operator 2020-2024
  • Table 17 Financial Cards: Card Payment Transactions Value by Operator 2020-2024
  • Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2020-2024
  • Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2025-2030
  • Table 20 Forecast Financial Cards by Category: Number of Accounts 2025-2030
  • Table 21 Forecast Financial Cards Transactions by Category: Value 2025-2030
  • Table 22 Forecast Financial Cards by Category: Number of Transactions 2025-2030
  • Table 23 Forecast Consumer Payments by Category: Value 2025-2030
  • Table 24 Forecast Consumer Payments by Category: Number of Transactions 2025-2030
  • Table 25 Forecast M-Commerce by Category: Value 2025-2030
  • Table 26 Forecast M-Commerce by Category: % Value Growth 2025-2030
COUNTRY REPORTS
SOURCES
  • Summary 1 Research Sources
DEBIT CARDS IN SOUTH AFRICAKEY DATA FINDINGS
2025 DEVELOPMENTS
  • Positive performance for debit cards
INDUSTRY PERFORMANCE
  • Demand for debit cards rises with new regulations and increasing fintech integration
  • Lower barriers to entry attract fintech and wallet providers
WHAT’S NEXT?
  • Debit cards set to benefit from increasing financial inclusion and digital innovation
  • Nedbank Group enters into an agreement to acquire fintech player iKhokha
  • Grocery retailer Shoprite set to enter the banking sector
COMPETITIVE LANDSCAPE
  • Capitec Bank Holdings continues to lead in debit cards
  • Digital-only banks see strong growth in a highly competitive landscape
CATEGORY DATA
  • Table 27 Debit Cards: Number of Cards in Circulation 2020-2025
  • Table 28 Debit Cards Transactions 2020-2025
  • Table 29 Debit Cards in Circulation: % Growth 2020-2025
  • Table 30 Debit Cards Transactions: % Growth 2020-2025
  • Table 31 Debit Cards: Number of Cards by Issuer 2020-2024
  • Table 32 Debit Cards: Number of Cards by Operator 2020-2024
  • Table 33 Debit Cards Payment Transaction Value by Issuer 2020-2024
  • Table 34 Debit Cards Payment Transaction Value by Operator 2020-2024
  • Table 35 Forecast Debit Cards: Number of Cards in Circulation 2025-2030
  • Table 36 Forecast Debit Cards Transactions 2025-2030
  • Table 37 Forecast Debit Cards in Circulation: % Growth 2025-2030
  • Table 38 Forecast Debit Cards Transactions: % Growth 2025-2030
COUNTRY REPORTSCREDIT CARDS IN SOUTH AFRICAKEY DATA FINDINGS
2025 DEVELOPMENTS
  • Strong performance observed in credit cards
INDUSTRY PERFORMANCE
  • Credit card usage displays growth amidst economic and technological shifts
  • Technological advances make credit card payments easier in South Africa
WHAT’S NEXT?
  • Regulatory reforms that aim to increase financial inclusion are set to drive growth
  • Capitec Bank Holding’s new partnership with accounting software startup indicates a broader shift within banking industry
  • TymeBank and Sanlam set to launch co-branded app to integrate services
COMPETITIVE LANDSCAPE
  • Concentrated competitive landscape is led by major banks
  • Traditional banks focus on loyalty rewards in a highly competitive landscape
CATEGORY DATA
  • Table 39 Credit Cards: Number of Cards in Circulation 2020-2025
  • Table 40 Credit Cards Transactions 2020-2025
  • Table 41 Credit Cards in Circulation: % Growth 2020-2025
  • Table 42 Credit Cards Transactions: % Growth 2020-2025
  • Table 43 Commercial Credit Cards: Number of Cards in Circulation 2020-2025
  • Table 44 Commercial Credit Cards Transactions 2020-2025
  • Table 45 Commercial Credit Cards in Circulation: % Growth 2020-2025
  • Table 46 Commercial Credit Cards Transactions: % Growth 2020-2025
  • Table 47 Personal Credit Cards: Number of Cards in Circulation 2020-2025
  • Table 48 Personal Credit Cards Transactions 2020-2025
  • Table 49 Personal Credit Cards in Circulation: % Growth 2020-2025
  • Table 50 Personal Credit Cards Transactions: % Growth 2020-2025
  • Table 51 Credit Cards: Number of Cards by Issuer 2020-2024
  • Table 52 Credit Cards: Number of Cards by Operator 2020-2024
  • Table 53 Credit Cards Payment Transaction Value by Issuer 2020-2024
  • Table 54 Credit Cards Payment Transaction Value by Operator 2020-2024
  • Table 55 Commercial Credit Cards: Number of Cards by Issuer 2020-2024
  • Table 56 Commercial Credit Cards: Number of Cards by Operator 2020-2024
  • Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2020-2024
  • Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2020-2024
  • Table 59 Personal Credit Cards: Number of Cards by Issuer 2020-2024
  • Table 60 Personal Credit Cards: Number of Cards by Operator 2020-2024
  • Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2020-2024
  • Table 62 Personal Credit Cards Payment Transaction Value by Operator 2020-2024
  • Table 63 Forecast Credit Cards: Number of Cards in Circulation 2025-2030
  • Table 64 Forecast Credit Cards Transactions 2025-2030
  • Table 65 Forecast Credit Cards in Circulation: % Growth 2025-2030
  • Table 66 Forecast Credit Cards Transactions: % Growth 2025-2030
  • Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2025-2030
  • Table 68 Forecast Commercial Credit Cards Transactions 2025-2030
  • Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2025-2030
  • Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2025-2030
  • Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2025-2030
  • Table 72 Forecast Personal Credit Cards Transactions 2025-2030
  • Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2025-2030
  • Table 74 Forecast Personal Credit Cards Transactions: % Growth 2025-2030
COUNTRY REPORTSCHARGE CARDS IN SOUTH AFRICAKEY DATA FINDINGS
2025 DEVELOPMENTS
  • Limited demand for charge cards
INDUSTRY PERFORMANCE
  • Charge cards lose popularity in the personal segment
  • Challenges prevail as more attractive payment methods emerge
WHAT’S NEXT?
  • Further challenges amid the development of new products
  • Diners Club will continue to innovate and adapt within the forecast period
COMPETITIVE LANDSCAPE
  • Charge card landscape remains consolidated due to its niche appeal
  • Efforts of Diners Club unlikely to reverse negative prospects
CATEGORY DATA
  • Table 75 Charge Cards: Number of Cards in Circulation 2020-2025
  • Table 76 Charge Cards Transactions 2020-2025
  • Table 77 Charge Cards in Circulation: % Growth 2020-2025
  • Table 78 Charge Cards Transactions: % Growth 2020-2025
  • Table 79 Commercial Charge Cards: Number of Cards in Circulation 2020-2025
  • Table 80 Commercial Charge Cards Transactions 2020-2025
  • Table 81 Commercial Charge Cards in Circulation: % Growth 2020-2025
  • Table 82 Commercial Charge Cards Transactions: % Growth 2020-2025
  • Table 83 Personal Charge Cards: Number of Cards in Circulation 2020-2025
  • Table 84 Personal Charge Cards Transactions 2020-2025
  • Table 85 Personal Charge Cards in Circulation: % Growth 2020-2025
  • Table 86 Personal Charge Cards Transactions: % Growth 2020-2025
  • Table 87 Charge Cards: Number of Cards by Issuer 2020-2024
  • Table 88 Charge Cards: Number of Cards by Operator 2020-2024
  • Table 89 Charge Cards Payment Transaction Value by Issuer 2020-2024
  • Table 90 Charge Cards Payment Transaction Value by Operator 2020-2024
  • Table 91 Commercial Charge Cards: Number of Cards by Issuer 2020-2024
  • Table 92 Commercial Charge Cards: Number of Cards by Operator 2020-2024
  • Table 93 Commercial Charge Cards Payment Transaction Value by Issuer 2020-2024
  • Table 94 Commercial Charge Cards Payment Transaction Value by Operator 2020-2024
  • Table 95 Personal Charge Cards: Number of Cards by Issuer 2020-2024
  • Table 96 Personal Charge Cards: Number of Cards by Operator 2020-2024
  • Table 97 Personal Charge Cards Transaction Value by Issuer 2020-2024
  • Table 98 Personal Charge Cards Transaction Value by Operator 2020-2024
  • Table 99 Forecast Charge Cards: Number of Cards in Circulation 2025-2030
  • Table 100 Forecast Charge Cards Transactions 2025-2030
  • Table 101 Forecast Charge Cards in Circulation: % Growth 2025-2030
  • Table 102 Forecast Charge Cards Transactions: % Growth 2025-2030
  • Table 103 Forecast Commercial Charge Cards: Number of Cards in Circulation 2025-2030
  • Table 104 Forecast Commercial Charge Cards Transactions 2025-2030
  • Table 105 Forecast Commercial Charge Cards in Circulation: % Growth 2025-2030
  • Table 106 Forecast Commercial Charge Cards Transactions: % Growth 2025-2030
  • Table 107 Forecast Personal Charge Cards: Number of Cards in Circulation 2025-2030
  • Table 108 Forecast Personal Charge Cards Transactions 2025-2030
  • Table 109 Forecast Personal Charge Cards in Circulation: % Growth 2025-2030
  • Table 110 Forecast Personal Charge Cards Transactions: % Growth 2025-2030
COUNTRY REPORTSPRE-PAID CARDS IN SOUTH AFRICAKEY DATA FINDINGS
2025 DEVELOPMENTS
  • Rising use of transportation pre-paid cards
INDUSTRY PERFORMANCE
  • Supply issues create challenging period for open loop pre-paid cards
  • Beneficiaries transition to private banks
WHAT’S NEXT?
  • Uncertainty over social grant payments with South African Postbank (SOC) Ltd at odds with SASSA
  • South African Reserve Bank looks to overhaul the regulatory framework around gift cards
  • Expansion of transport infrastructure throughout major South African cities set to benefit closed loop pre-paid cards
COMPETITIVE LANDSCAPE
  • Transportation cards witness consistent growth
  • Leading issuer South African Postbank (SOC) Ltd continues to lose share
CATEGORY DATA
  • Table 111 Pre-paid Cards: Number of Cards in Circulation 2020-2025
  • Table 112 Pre-paid Cards Transactions 2020-2025
  • Table 113 Pre-paid Cards in Circulation: % Growth 2020-2025
  • Table 114 Pre-paid Cards Transactions: % Growth 2020-2025
  • Table 115 Closed Loop Pre-paid Cards Transactions 2020-2025
  • Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
  • Table 117 Open Loop Pre-paid Cards Transactions 2020-2025
  • Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2020-2025
  • Table 119 Pre-paid Cards: Number of Cards by Issuer 2020-2024
  • Table 120 Pre-paid Cards: Number of Cards by Operator 2020-2024
  • Table 121 Pre-paid Cards Transaction Value by Issuer 2020-2024
  • Table 122 Pre-paid Cards Transaction Value by Operator 2020-2024
  • Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2020-2024
  • Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2020-2024
  • Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2020-2024
  • Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2020-2024
  • Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2020-2024
  • Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2020-2024
  • Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2020-2024
  • Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2020-2024
  • Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2025-2030
  • Table 132 Forecast Pre-paid Cards Transactions 2025-2030
  • Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2025-2030
  • Table 134 Forecast Pre-paid Cards Transactions: % Growth 2025-2030
  • Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2025-2030
  • Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2025-2030
  • Table 137 Forecast Open Loop Pre-paid Cards Transactions 2025-2030
  • Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2025-2030
COUNTRY REPORTSSTORE CARDS IN SOUTH AFRICAKEY DATA FINDINGS
2025 DEVELOPMENTS
  • Store cards remain very popular in South Africa
INDUSTRY PERFORMANCE
  • Store cards continue to display modest growth supported by economic improvements
  • Omnichannel integration and digital engagement improves store card appeal
WHAT’S NEXT?
  • Store cards set to experience steady growth, even as BNPL emerges
  • Buy Now Pay Later will continue to revolutionise the retail credit market
  • Retailers will look to innovate product features and utilise technology and digital adoption
COMPETITIVE LANDSCAPE
  • Truworths International and The Foschini Group lead store cards
  • Payment gateways and store card alliances becoming common practice
CATEGORY DATA
  • Table 139 Store Cards: Number of Cards in Circulation 2020-2025
  • Table 140 Store Cards Transactions 2020-2025
  • Table 141 Store Cards in Circulation: % Growth 2020-2025
  • Table 142 Store Cards Transactions: % Growth 2020-2025
  • Table 143 Store Cards: Number of Cards by Issuer 2020-2024
  • Table 144 Store Cards: Payment Transaction Value by Issuer 2020-2024
  • Table 145 Forecast Store Cards: Number of Cards in Circulation 2025-2030
  • Table 146 Forecast Store Cards Transactions 2025-2030
  • Table 147 Forecast Store Cards in Circulation: % Growth 2025-2030
  • Table 148 Forecast Store Cards Transactions: % Growth 2025-2030
COUNTRY REPORTS