PODCAST | Visa says card payments on the rise among SA’s SMEs

The growth of card payments in SA is the focus of this edition of Business Day Spotlight. 

Host Mudiwa Gavaza is joined by Lineshree Moodley, country head for Visa SA.

According to the global payments giant, SA is leading the charge when it comes to the adoption and use of digital payments in Africa. 

This is based on findings from the company’s recent “Value of acceptance: understanding the digital payment landscape in SA” report. 

Moodley says two-thirds of merchants and nearly 60% of consumers prefer card payments, with 78% of e-commerce merchants already on-board.

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While the overall trend is positive, the research also identifies key challenges that need to be addressed to unlock the full potential of SA’s digital payments landscape. 

Moodley explains that concerns about fraud and cost persist among some merchants, highlighting the need for ongoing education and targeted interventions. 

Visa is a US-based financial technology (fintech) company. Mainly working in the financial services sector, the company has operations about the world, including in SA, where its logo is often featured on bank cards, ATMs and point-of-sales machines.

The company — valued at just under $688bn — competes with MasterCard, another US-based player, whose market capitalisation of $518bn is smaller by comparison.

Topics of discussion include: growth of digital payments in SA; data about card use by merchants and small businesses; shifting consumer preferences and impact on SMEs; challenges holding adoption back in SA; and comparatives with other African countries. 

Business Day Spotlight is a MultimediaLIVE Production. 

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