Retailer’s Guide on How to Shift From Multichannel to Omnichannel Payment Experiences – Ecentric

By Gary Bowers, Product Manager and Shaun Shehab, Senior Sales Engineer at Ecentric Retailers need to keep costs under control and reduce complexity in economic conditions that can best be described as uncertain and challenging. Yet, despite this, they need to give customers (and their employees) the kind of payment experience they demand. Beyond this,

A Fintech First – IKhokha Opens Retail Stores to Enhance Engagement With Merchants

Fintech company, iKhokha, one of the market leaders in the South African SME payments space, are this week opening their eighth retail store, where their point-of-sale devices are sold and where merchants can access support, networking opportunities and other business enhancement tools. Since launching in 2012, iKhokha has developed a deep understanding about the complexities

Ikhokha Opens First Fintech Retail Store in Pietermaritzburg

Fintech company, iKhokha has this week opened their first Pietermaritzburg retail store, where their point-of-sale devices can be purchased and where merchants can access support, networking opportunities and other business enhancement tools. Since launching in 2012, iKhokha has become one of the market leaders in the South African SME payments space, and have developed a

POS Versus POS: Selecting the Right Solution Is Far More Complex Than Chasing the Cheapest – redPanda Software

By Peter Ludi, Business Development Executive at redPanda Software A point of sale, commonly referred to as POS, is a vital cornerstone of any retail business, regardless of whether it sells products or services. However, a misunderstanding of the definition of POS sees many small and medium-sized retailers fall into the trap of buying a

Card Times: Cash Finds Itself ‘Virtually’ Out of Fashion – Trade Intelligence

By Nicola Allen, Senior Retail Analyst, Trade Intelligence Earlier this year, social media was abuzz with outrage at an announcement which was misinterpreted to mean that Woolworths was going to stop accepting cash in its stores – it was in fact Woolworths’ WCafés only that were going to stop accepting cash. Trade Intelligence partnered with

IKhokha Launches Affordable New Smart Card Machine for SMEs

One of the market leaders in the fintech space in South Africa, iKhokha, has announced the launch of a new smart card machine that fits into your pocket, called the iK Flyer Lite. This new offering follows the success of the flagship iK Flyer card machine, launched in 2022, which far surpassed initial sales expectations.

Four Business Trends to Navigate the Economic Future – Yoco

Physical retail businesses remain crucial in the South African landscape, catering to the preferences of many customers. However, as eCommerce continues to surge, these businesses will experience challenges competing with industry giants like Amazon. The trends outlined below are essential considerations for a thriving retail business in an increasingly online world. While they’re not a

More Pick N Pay Smart Shoppers Switching Points for Airtime and Data

Pick n Pay Smart Shopper customers are increasingly spending their points on airtime and data, a popular loyalty reward exclusive for retailer Pick n Pay. Over R1 million worth of points has been switched for airtime and data. Since the Pick n Pay Smart Shopper app relaunch last October, which introduced a seamless points-to-airtime/data conversion

Harnessing the Potential of Mobile Payments in Africa – Halo Dot

Dalene Deale, Strategic Consultant at Halo Dot Financial inclusion remains a critical barrier across Africa. A considerable segment of the population remains alienated from basic banking services. Yet, the arrival of mobile payment technologies, like Halo Dot, promises to bridge this gap. Halo Dot’s innovative approach turns mobile devices into secure, encrypted payment terminals, allowing

The Rise of the Cashless Society – Halo Dot

Jonathan Jacobs, Head of Product and Operations at Halo Dot In recent years, there has been a gradual shift towards going cashless. This is something that is impacting every society around the world. However, in developing countries like South Africa, this transition has become a layered one. Influenced by the divide that separates people when

Can Fast Capital Turn Sa’s SME Challenges Into Opportunities? – Zapper

In the vibrant tapestry of South African entrepreneurship, small businesses stand as beacons of innovation and resilience. As we have ushered in a new year, these enterprises look forward to a landscape that will continue to be marked by both challenges and opportunities, powered by the enduring spirit of South African tenacity and the support

How Technology Is Revolutionising Payment Reconciliation for Retailers – Ecentric

By Graham Bradford, Senior Product Manager at Ecentric As retailers grow into mid-market size and beyond, the complexity and cost of manually reconciling payments increases almost exponentially because there are hundreds of thousands, if not more, transactions a day. Most retailers in this segment reconcile their payments with spreadsheets and many can’t expect a view

Retailers Turn to BNPL to Drive Sales Amid Declining Growth

South African retailers are turning to interest-free alternative credit options as consumers seek safer and more cost-efficient ways to fund key purchases. This comes amid tough economic conditions and a constrained spending environment. Craig Newborn, CEO at local Buy Now Pay Later provider, PayJustNow, says: “Consumer shopping behaviour is shifting in line with tough economic

RCS Continues to Revolutionise SA Credit: Expanding their Retailer Network & Payment Options for Greater Customer Choice and Convenience

South African shoppers want choice and convenience. Recognising this, retail consumer finance provider, RCS, is offering real, tangible value to its customers. By expanding its partner network, payment options and embracing cutting-edge technology, RCS is not just keeping up; it’s leading the way towards greater financial inclusion in South Africa. Credit extended to healthcare products

Binance Moves Into Retail Space Through Cryptoconvert’s Partnership With Pick n Pay

As the digital payment revolution gains momentum, Binance, the world’s leading cryptocurrency exchange, is over the moon to announce its partnership with CryptoConvert which will see its users able to make payments cashless, contactless, and incredibly secure at all Pick n Pay till points. CryptoConvert partnered with Pick n Pay last year to trial making

6 Ways Payment Technology Has Revolutionised Opportunities for Companies – Paystack

It doesn’t matter whether a company is a small to medium-sized enterprise or a large corporation, or where it’s based, we are all now operating in a global economy. Irrespective of the size of an enterprise, its location or what its product offering is, with the right payment and transaction mechanisms, it can compete equally

Pick N Pay Smart Shopper Innovates With New Digital Platform

Pick n Pay, a trailblazer in the loyalty space, celebrates its pioneering spirit as it embarks on a digital transformation journey with the launch of the Pick n Pay Smart Shopper app. This marks the start of a new era of customer engagement and convenience for Smart Shopper as it aims to become South Africa’s

Makro Launches New Online Offering to Serve Businesses Across South Africa

In its latest move to become the leading eCommerce player in South Africa, Massmart has launched a bespoke business (B2B) website to meet the needs of business customers, who are facing similar economic challenges to end consumers. This ‘Makro Business’ branded website will offer businesses of all sizes, an online platform tailored to meet their

How Can Embedded Payments Drive Better Online Retail Customer Experiences? – Paystack

By Joel Bronkowski, Country Lead, South Africa at Paystack With South Africa’s online retail space now worth more than R50 billion and growing continuously, the sector is only going to become more competitive. That’s true for online retailers of all sizes too. At the top of the market, online-only players that have long been dominant

Unified Payments Taps Compass Plus Technologies for its New Payment Gateway Platform to Future-proof its E-commerce Acquiring Business

Unified Payments (UP), Nigeria’s premier financial technology service provider, has successfully launched its e-commerce gateway services built on the new state of the art payment gateway platform from Compass Plus Technologies. The strategic move further strengthens the 18-year partnership between the two technology titans and has enabled UP to become the first institution in the

Amplifin Launches Heavyweight Solution for Small to Medium Business

In the dynamic business landscape, growing enterprises encounter an escalating array of challenges that demand innovative solutions. Amplifin recognises that as businesses expand, their concerns multiply – from financial intricacies to operational complexities. The organisation understands that these enterprises require access to cutting-edge technologies, akin to those embraced by larger corporations, but without the financial

Easily Pay for Groceries at all Pick n Pay Tills Using Bitcoin

South Africans who have a Luno wallet will be able to pay at Pick n Pay with crypto in one easy step by simply scanning a QR code. Crypto payments have been available at over 1 500 Pick n Pay stores since February 2023. But the payment process required customers to download two apps to

Scan to Pay Vouchers: a New Way to Reward Loyalty – Ukheshe

With the holiday season fast approaching, many businesses are working on gift lists and incentives to thank employees and reward loyal clients. And while the reliable (if somewhat boring) box of chocolates is still appreciated by some, what better way to thank someone than to let them choose their own perfect gift? That’s just one

PAYM8 Expands E-Commerce Offering, Empowering Merchants with Seamless Payment Solutions Amid Surging Demand

Leading tech and financial gateway service provider PAYM8, announced the expansion of its e-commerce offering. This comes in response to the South African e-commerce market’s projected growth of 11.89% in the next five years, reaching a market volume of US$9.97 billion, roughly R75 billion, by 2027. As consumers increasingly value the convenience, time savings, and

Mobicred Launches Convenient, Accessible, Mobile Credit Facility within The Shoprite Group

As of August 2023, Shoprite customers will now be able to purchase non-food items using leading digital credit provider, Mobicred. The fully digitised system will give shoppers access to credit offerings via their Money Market accounts, enabling them to pay off higher ticket items over a period of up to 12 months. Commenting on this

Tackling Payment Fraud Head-On in South Africa’s Mining and Construction Industries

As one of the top ten mining countries in the world, South Africa’s economy relies heavily on this industry as well as those closely related to it, such as construction. Yet this also makes these industries attractive targets for cyber criminals. The mining industry is among the most at-risk industries for fraud and in some

The Rise of the Hybrid Retail Model – a New Dawn for South African Shoppers – Mobicred

The pandemic years catalysed a shift in the local retail sector, driven by the dramatically accelerated pace of digitisation. In the wake of COVID-19, greater adoption of online shopping was limited only by the fact that South Africa remains a predominantly cash-based economy. But, with the launch of the ‘cash-like’ payment system, Payshap, this picture

The Future of SA Grocery E-Commerce: Can It Still Deliver?

The heady days of triple-digit e-commerce growth are over, but the rewards are there for the taking for the savvy e-marketer. Local e-commerce growth is slowing, which was inevitable considering the huge leaps made during and post-COVID, but the sector is still growing and is driving total retail growth  both here and abroad. Locally, fast-moving

Builders Partners with Standard Bank’s UCount to Drive Savings on DIY Renovations and Building Materials

Builders has partnered with Standard Bank UCount nationwide, to offer members more when shopping for Do-It-Yourself (DIY), home improvements or building materials – in-store or online. Standard Bank customers can now earn and redeem UCount Rewards when shopping at Builders. The new partnership makes Builders the only DIY category retailer on the UCount program offering

The Power of Payment Technology in Bolstering SA’s Rural and Informal Businesses – PAYM8

The size of a small, informal, or rural business shouldn’t be an obstacle to them attaining the same growth rate as larger, more formal enterprises. In fact, their smaller scale should be an advantage with fewer bureaucratic hurdles and greater flexibility. But in reality, rural businesses and informal traders are often limited by access to

Unlocking Africa’s E-Commerce Potential With Alternative Payment Methods – Ecentric Payment Systems

By Quintin van der Linde, Senior New Business Developer at Ecentric Payment Systems Africa is projected to have more than half a billion e-commerce users by 2025. In part, this can be attributed to the growing adoption of alternative payment methods in the wake of the pandemic. With 45% of the population in Sub-Saharan Africa

The Future of Trade Finance in Sub-Saharan Africa Amidst Hard Currency Challenges – Bank One

With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union

V&A Waterfront Partners With admyt to Offer Visitors the Convenience of Cashless, Ticketless Parking

The V&A Waterfront, Africa’s most visited tourist destination, has joined forces with admyt, the market leading digital parking management platform in South Africa, to leverage its innovative smart parking system for the benefit of visitors, tenants and guests to the precinct. The admyt system uses license plate recognition (LPR) software and smartphone technology to provide

High Investment in Self-Checkout, as Demand Grows Beyond grocery

More than a quarter of global self-checkout shipments went to non-grocery stores as the technology penetrates new segments Wider range of retailers adopting self-checkout 2022 was the second highest year for self-checkout shipments globally, according to Global EPOS and Self-Checkout 2023, the latest report from strategic research and consulting firm RBR. More than 193,000 units

Adyen and Shopify Partner to Power New Payment Capabilities For Enterprise Merchants

As a preferred enterprise payments partner for Shopify, Adyen will provide large-scale customers the agility to succeed in the fast-moving ecommerce industry Adyen, the global financial technology platform of choice for leading businesses, announces a new global partnership with Shopify, a provider of essential internet infrastructure for commerce, to strengthen ecommerce capabilities, simplify the customer

Game Launches myVirtual Credit Solutions

Consumers in South Africa are experiencing escalating levels of financial stress and are actively seeking alternative forms of payment due to the country’s rising cost of living. The use of developing digital payments are gaining pace in South Africa and statistics show that there is a rising desire for credit among consumers with digital payment

New Integrated Payment Platform to be Launched in Africa

Moment offers expanded payment infrastructure for businesses across Africa to help them collect and make payments easier, quicker, and more affordable MultiChoice Group, Rapyd and General Catalyst today announced a joint venture aimed at developing an integrated payment platform for Africa. The joint venture will operate under a new company, called Moment. Moment offers expanded

How Payment Technology is Changing the Rulebook on SA Retail – RCS

The countrywide adoption of Bitcoin payments by industry titan, Pick ‘n Pay, late last year, heralded the first among many new developments in the payment technology landscape. The past few years have seen the proliferation of new methods of transacting, with local fintech innovators earning their place within the new-generation payments ecosystem. Consumer credit has

Making Touchscreen Terminals Accessible to People With a Visual Impairment – Ingenico

Touchscreens are increasingly being used for payment and while they offer many benefits for users, we must ensure they are accessible for all. Martin Doherty, CSO for Northern Europe and DACH at Ingenico, shares how Ingenico found a solution alongside the Royal National Institute of Blind People (RNIB) to enable blind and partially sighted people

False Declines Carry Big Risk For Banks, Consumers and Merchants – Entersekt

Friction at checkout remains a major challenge for businesses, many of which are doing everything they can to reduce cart abandonment and ensure a great customer experience. At the same time, banks face their own challenges as they are the last defence for both customer and merchant when it comes to fraud protection. However, when

How Innovative Payment Solutions are Shaping South Africa’s Retail Sector – Ecentric

By Shaun Holley, Deputy CEO & Head of Innovation & Rory Bosman, Sales & Marketing Executive at Ecentric Payment Systems Today’s consumers have access to a myriad of convenient experiences through mobile apps and online platforms, and they expect a similar level of ease when interacting with businesses and specifically payment interactions. Indeed, consumer demand

South Africa Moves Closer to Frictionless Payments with Rapid Checkouts – Entersekt

E-commerce shoppers have been promised a frictionless checkout for years, but new moves by the card schemes will take South African consumers a step closer. Soon, local merchants will be able to offer online shoppers a faster checkout experience giving them a seamless experience, much like the ones already available on Amazon and other global

Time for Retail 2.0: How Android Can Help Take Retail to the Next Level

Francisco Gil, Managing Director Ingenico Iberia & Africa Markets, explores the added value that Android technology brings to the retail sector. He sets out through various examples how Android can not only help to improve the customer experience, but also generate additional revenues in sales. The covid pandemic was a challenging time for the traditional

ACI Worldwide and MagicCube Partner to Deliver Tap to Pay Acceptance for Mid- to Large Retailers

ACI Worldwide, a global leader in mission-critical, real-time payments, has teamed up with MagicCube, the creator of i-Accept™, to deliver secure and seamless contactless payments on commercial off-the-shelf (COTS) smartphones and tablets using Tap to Pay—with or without PIN. The solution will provide mid-size and large retailers operating in complex environments with device-agnostic control and visibility of

RBR: Global E-Commerce Card Purchases Rocket to Record $8.1 Trillion

E-commerce card purchases continue to gain momentum as pandemic-driven habits remain popular and e-commerce card payments have become increasingly convenient, secure and widely available Online payments account for a fifth of payment card spending  RBR’s study, Global Payment Cards Data and Forecasts to 2027, reveals that $8.1 trillion was spent using payment cards in 2021,

5 Insights From 5 Major Players in Retail and E-Commerce for 2023

e-Commerce is one of the fastest evolving industries in the world. The growth has been unprecedented, and in Africa the appetite for online business and retailing is higher than ever.  In 2021, retail e-commerce sales amounted to approximately 5.2 trillion U.S. dollars worldwide. This figure is forecast to grow by 56% over the next few

Account-to-Account Payments Set to Revolutionize Shopping, with E-commerce Payments Reaching $525 Billion Globally: Worldpay from FIS 2023 Global Payments Report

Key facts: Emerging trend: Account-to-account payments continued to gain momentum in 2022 to account for US$525 billion in global e-commerce transaction value. Global forecast: Global e-commerce market is set to be worth nearly US$8.5 trillion in 2026. Shift in balance of U.S. payments: For the first time, digital wallets surpassed credit cards to become the leading payment method

SpendTrend23 Report by Visa and Discovery Bank Points to Price Inflation Driving Grocery Spend and Loadshedding Influencing Takeout Meal Consumption

In a landmark collaborative initiative, Visa and Discovery Bank today announced their Spendtrend23 report, which is aimed at identifying and understanding shifts in consumer spending behaviour during and after the COVID-19 pandemic. Highlights include: South Africans’ spending via credit card has bounced back and is more than 20% higher than pre-pandemic levels. Spend on categories

Online Retail Driven by Age, Income, Education

A newly released study revealed that South Africans’ online spending patterns and behaviour continued to grow at a rapid pace in 2022. This is despite the country’s ongoing recovery from lockdown restrictions and social distancing. The comprehensive results of the Online Retail in South Africa 2022 study, released today by World Wide Worx with Mastercard,

NRF 2023 Recap: Retail is Changing

Tier 1 retailers are leading the way with innovation that will enhance CX with consistency across channels, more self-service options, and less friction It was great to be back at the National Retail Federation (NRF) Retail’s Big Show in 2023. One of the primary reasons is — after a remote-only event in 2021 and lower-than-normal