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Opportunities and Risks in the South African Cards and Payments Market to 2024
Saturday, January 8, 2022
DUBLIN, Dec. 31, 2021 /PRNewswire/ -- The "South Africa Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
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The report provides detailed analysis of market trends in the South African cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2016-20e).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together research, modeling and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
This report provides top-level market analysis, information and insights into the South African cards and payments industry, including -
-- Current and forecast values for each market in the South African cards
and payments industry, including debit and credit cards.
-- Detailed insights into payment instruments including cash, cards, credit
transfers, and direct debits. It also, includes an overview of the
country's key alternative payment instruments.
-- E-commerce market analysis.
-- Analysis of various market drivers and regulations governing the South
African cards and payments industry.
-- Detailed analysis of strategies adopted by banks and other institutions
to market debit and credit cards.
Report Scope
-- In March 2021, the National Payment System Department of the South
African Reserve Bank (SARB) released a consultation paper on the
feasibility of establishing a domestic card scheme in South Africa. SARB
is seeking input from stakeholders - including card issuers, acquirers,
retailers, regulators, government agencies, fintech companies, and other
interested parties - as to the possibility of setting up a domestic
scheme equivalent to Visa and Mastercard, and how it should be
structured. The broader objective of the paper is to help achieve the
goals of the National Payment System Framework and Strategy - Vision
2025 relating to financial stability and safety, competition,
interoperability, and cost-effectiveness.
-- South Africa is officially phasing out the issuance, acceptance, and
collection of paper cheques from December 31, 2020. The decision was
jointly taken by SARB, the Financial Sector Conduct Authority (FSCA),
Payments Association of South Africa (PASA), and Banking Association
South Africa (BASA). In its consultation paper, SARB noted that the
decision to phase out cheques was taken for several reasons, including
security concerns. Meanwhile, the impact of COVID-19 led to a decline in
both cheque usage and acceptance.
-- To benefit from the growing preference for convenient and secure payment
solutions, international companies are launching their payment solutions
in the country. In March 2021, Apple launched its mobile payment
solution Apple Pay in South Africa. It can be used to make in-store,
in-app, and online payments. Card issuers and schemes that support Apple
Pay in South Africa include Absa Bank, Discovery Bank, Nedbank, Visa,
Mastercard, and American Express. Previously, Huawei Pay was launched in
partnership with Zapper in December 2020. Huawei Pay allows users to
make contactless payments by tapping an NFC-compatible phone against a
contactless payment device or card reader. The solution also allows
payments to be made via a barcode or QR code. Meanwhile, Visa launched
Click to Pay - an interoperable one-click online checkout service - in
South Africa in July 2020.
Report Benefits
-- Make strategic business decisions, using top-level historic and forecast
market data, related to the South African cards and payments industry
and each market within it.
-- Understand the key market trends and growth opportunities in the South
African cards and payments industry.
-- Assess the competitive dynamics in the South African cards and payments
industry.
-- Gain insights into marketing strategies used for various card types in
South Africa.
-- Gain insights into key regulations governing the South African cards and
payments industry.
Key Topics Covered:
Payment Instruments
-- Card-based Payments
-- Merchant Acquiring
-- Ecommerce Payments
-- Buy Now Pay Later
-- Mobile Payments
-- P2P Payments
-- Bill Payments
-- Alternative Payments
-- Job Analysis
-- Payment Innovations
-- Payment Infrastructure & Regulation
Companies Mentioned
-- Standard Bank
-- Absa
-- Capitec
-- Nedbank
-- First National Bank
-- Visa
-- Mastercard
-- American Express
-- Diners Club
-- PayPal
-- VodaPay
-- SnapScan
-- Zapper
-- Samsung Pay
-- Apple Pay
-- FlickPay
-- Paysafecard
-- Huawei Pay
-- Click to Pay
For more information about this report visit https://www.researchandmarkets.com/r/iu5n2c
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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View original content:https://www.prnewswire.com/news-releases/opportunities-and-risks-in-the-south-african-cards-and-payments-market-to-2024-301452306.html
SOURCE Research and Markets
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