Informal sector more likely to use cards for digital payments, says Lesaka
Card payments have experienced the most growth due to security concerns, particularly the physical theft of mobile phones
14 November 2023 - 15:59
Financial services and technology group Lesaka Technologies expects that the biggest growth driver for digital payments in SA’'s informal sector will be bank cards, as opposed to mobile phones as in other parts of the continent owing to personal security concerns.
This is according to a new report by the group, which estimates that the informal sector contributes more than R600bn to the country’s income, translating to more than 6% of GDP. ..
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