You can also listen to this podcast on iono.fm here. ADVERTISEMENT CONTINUE READING BELOW DUDUZILE RAMELA: Let’s take a look at this now. The space of digital payments, from M-Pesa in the East African nation of Kenya to eWallet here at home and the likes of Mukuru, which exists in over 20 countries. The payment system on the African continent has taken shape and is ripe for growth.
You can fund it with a multiple array of different ways to pay or you can use your credit card or debit card online as well. So there are many ways in which to make a transaction work in today’s society.DUDUZILE RAMELA: I was listening to a very interesting webinar, albeit briefly, yesterday and they were talking about the movement of people on the African continent.
So that adoption is much greater and faster, which is the rise that we’ve seen last year, which is over 20% within the South African market.HAYLEY HOPWOOD: I think it’s just the ease of use. So it works in a non-WiFi environment, so you don’t necessarily have to be online, you can still enable some transactions offline. As well as the fact that it’s accessible for many.
So we are starting to see that the demand is there, and businesses really have to look at their customers and their consumers to go, okay, how do we enable that. HAYLEY HOPWOOD: Yeah, we do see that starting to become a trend more and more, and certainly around the globe it’s something that’s ripe, where it’s like a closed loop infrastructure where if you’re staying within that network of whether it’s a service, whether it’s a product, or whether it’s banking infrastructure, the payment actually doesn’t leave that ecosystem.
DUDUZILE RAMELA: Speaking of diversification, Hayley, I’m so curious because you can’t speak about education, you can’t speak about health, you can’t even speak about bread without mentioning artificial intelligence. So AI being the word of the day, what do you perceive, or rather maybe you can help us understand how that would work, whether there are examples that we are seeing already of AI in this space of digital payments.