According to this latest research note, Country Payments Market Profile: South Africa, the foundation is in place for a larger electronic payments market in South Africa, thanks to the relatively mature and stable retail banking landscape, and there is room for growth. This research note provides a high-level examination of key banking and payment indicators such as the number of bank branches and ATMs and the number and value of payment card transactions. Data is presented for 2014 and growth in the preceding five-year period and a SWOT analysis is provided of the market’s strengths, weaknesses, opportunities, and threats to evaluate its attractiveness from the perspective of the payments industry.
Highlights of the note include:
- Overview of evolving retail banking industry in South Africa with statistics on branch and ATM growth over the past five years
- Statistics on the evolving consumer payment mix in South Africa and commentary on the changing dynamics
- Insight into the payment acceptance landscape domestically and discussion on emerging payment trends like e-commerce and mobile payments