Fintech Solutions Reduce Risks for Informal Market Traders in South Africa

Trading in South Africa’s informal markets brings real risks to merchants and their suppliers. In this highly cash-based economy, the risk of holding and moving cash is significant – the loss of a day’s takings is difficult to bounce back from for most informal merchants. Fortunately, with the digitalisation trend firmly in place in informal markets, fintech solutions can greatly reduce these risks.

Supplier payments is an important area where fintechs are delivering real value in the informal ecosystem. The challenge for FMCG manufacturers and distributors is collections from the network of spazas and spazarettes that they service in South Africa’s townships. These merchants primarily operate on a cash on delivery basis requiring that drivers are paid in cash from merchants on their route, creating an opportunity for criminals to target drivers. Kazang’s supplier payments platform has been a game changer in terms of helping merchants and suppliers overcome these challenge

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Anticipated Revival of South African Real Estate Market in 2024The South African real estate market is expected to revive in 2024 due to a drop in the repo rate leading to lower mortgage rates. There is a possibility of another rate increase in January before home loan interest rates start to moderate.
Source: BoksburgNews - 🏆 40. / 51 Read more »