South Africa Cards and Payments Market Opportunities and Risks Report 2021-2024 –


DUBLIN–(BUSINESS WIRE)–The “South Africa Cards and Payments – Opportunities and Risks to 2024” report has been added to’s offering.

‘South Africa Cards and Payments – Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the South African cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2016-20e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together the publisher’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the South African cards and payments industry, including –

  • Current and forecast values for each market in the South African cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including cash, cards, credit transfers, and direct debits. It also, includes an overview of the country’s key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the South African cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.


  • In March 2021, the National Payment System Department of the South African Reserve Bank (SARB) released a consultation paper on the feasibility of establishing a domestic card scheme in South Africa. SARB is seeking input from stakeholders – including card issuers, acquirers, retailers, regulators, government agencies, fintech companies, and other interested parties – as to the possibility of setting up a domestic scheme equivalent to Visa and Mastercard, and how it should be structured. The broader objective of the paper is to help achieve the goals of the National Payment System Framework and Strategy – Vision 2025 relating to financial stability and safety, competition, interoperability, and cost-effectiveness.
  • South Africa is officially phasing out the issuance, acceptance, and collection of paper cheques from December 31, 2020. The decision was jointly taken by SARB, the Financial Sector Conduct Authority (FSCA), Payments Association of South Africa (PASA), and Banking Association South Africa (BASA). In its consultation paper, SARB noted that the decision to phase out cheques was taken for several reasons, including security concerns. Meanwhile, the impact of COVID-19 led to a decline in both cheque usage and acceptance.
  • To benefit from the growing preference for convenient and secure payment solutions, international companies are launching their payment solutions in the country. In March 2021, Apple launched its mobile payment solution Apple Pay in South Africa. It can be used to make in-store, in-app, and online payments. Card issuers and schemes that support Apple Pay in South Africa include Absa Bank, Discovery Bank, Nedbank, Visa, Mastercard, and American Express. Previously, Huawei Pay was launched in partnership with Zapper in December 2020.
  • Huawei Pay allows users to make contactless payments by tapping an NFC-compatible phone against a contactless payment device or card reader. The solution also allows payments to be made via a barcode or QR code. Meanwhile, Visa launched Click to Pay – an interoperable one-click online checkout service – in South Africa in July 2020.

Payment Instruments

  • Card-based Payments
  • Merchant Acquiring
  • Ecommerce Payments
  • Buy Now Pay Later
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments
  • Job Analysis
  • Payment Innovations
  • Payment Infrastructure & Regulation
  • Appendix

Companies Mentioned

  • Standard Bank
  • Absa
  • Capitec
  • Nedbank
  • First National Bank
  • Visa
  • Mastercard
  • American Express
  • Diners Club
  • PayPal
  • VodaPay
  • SnapScan
  • Zapper
  • Samsung Pay
  • Apple Pay
  • FlickPay
  • Paysafecard
  • Huawei Pay
  • Click to Pay

For more information about this report visit


Laura Wood, Senior Press Manager

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