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Commerce convergence becomes industry-defining trend

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Payfast ニュース

2024 Payfast State Of Pay,Online Marketplaces,Amazon

There is increasing familiarity, comfort and trust among local consumers and merchants with the adoption of digital payment solutions.

Successfully competing with online marketplaces in SA requires focusing on offering unique products or personalised services.

It notes mobile wallets and open banking solutions – such as Apple Pay, Samsung Pay and Capitec Pay − have grown significantly over the past year, indicating increasing familiarity, comfort and trust with the adoption of digital payment solutions among local consumers and merchants. “Recognising that this comes with its own set of challenges, the overall impression is that South African businesses are built on grit and determination – a quality that stands these businesses in good stead.”

According to the study, 50% of merchants with an online presence saw an increase in online sales during 2024 compared to 2023, when only 38% of merchants saw an uptick in online sales.

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