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South Africa: over 50% of transactions in cash

Categories : Cash is efficient, Cash is the most widely used payment instrument
July 13, 2017
Over 50% of South Africans prefer cash over other payment methods. Even M-Pesa had to pull-out in 2016 for a lack of users.
Communication Team / Equipo de Comunicación

According to’s Global Cash Index series, South Africans prefer rands over other payment methods. In fact, after struggling to gain more users, the mobile money transfer app M-Pesa finally pulled-out of South Africa in 2016.

Because of this particular affinity for cash, there are many companies that have adapted their business plans to meet demand. Uber, and online retailers like are now accepting payments in cash.

These figures are not surprising given that a quarter of the population does not own a bank account. Yet, despite the growing use of mobile apps, South Africans still choose cash over alternative payments – and these numbers are expected to increase with the growing number of ATMs.

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