The summit showcases the latest advancements and cutting-edge solutions shaping the future of payments, with the awards spotlighting companies that successfully integrate these innovations in collaboration with Absa.

Presented for the first time this year, the Retail Powerhouse Award honours large retailers leading the way in payment technology across consumer and commercial services. This prestigious award is a strong endorsement of the company’s continued investment in driving greater efficiency, expanding customer payment options through its ‘ways2pay’ initiative, and world-class service and innovation in payments.

“As the leading retailer in payments, we are constantly innovating how customers pay in our stores to make shopping faster, easier, and more flexible. We were among the first to introduce debit card payments, cash deposits at tills, QR code payments, and, more recently, cryptocurrency payments. Our focus remains on offering customers more ways to pay that suit their lifestyle and needs,” says Deven Moodley, Executive Head: VAS, Financial Services and Mobile at Pick n Pay.

He says that through its long-standing partnership with Absa, Pick n Pay has launched a range of market-leading products.

“ABSA has helped develop innovative solutions for Pick n Pay, in our pursuit of providing customers with enhanced payment options that are secure, efficient, and facilitate a seamless checkout process. Their collaboration with Pick n Pay to deliver the most cost-effective Store-to-Store Money Transfer product in 2024 is a testament to the alignment of our shared values and visions. Additionally, ABSA Customers now have the convenience of redeeming their Cash Send at any Pick n Pay store, marking a first for the bank and further enhancing the customer experience and convenience within Pick n Pay,” says Moodley.

Pick n Pay has also remained at the forefront of business payment solutions. “Absa has been instrumental in streamlining our commercial payment processes, providing efficient solutions for supplier and payroll payments, as well as secure virtual cards for travel bookings, cash passports for foreign travel and online purchases” says Jacque Du Toit, Pick n Pay Head of Finance Business Solutions.

Chris Woods, Managing Executive at ABSA, shared, “Absa and Pick n Pay have a more than five decades-long relationship that has evolved beyond banking and retail into the provision of innovative services both in store and in the digital realm. Pick n Pay’s desire to push the boundaries of customer value truly defines them as a powerhouse in the history of African retail.”