South Africa’s payment choices are not a straightforward contest in which one method replaces all the others. The Reserve Bank’s 2024/25 annual report summarises research finding that cash remained widely used for low-value purchases, while cards and digital methods were preferred for higher-value transactions.
The inaugural payments study was published in September 2024 and drew on more than 7,500 respondents nationwide. The annual report describes two surveys examining payment choices and their context.
Convenience depends on the situation
Access, pricing and convenience influence how people pay. The report also highlights a need for financial literacy, including misconceptions about requirements for products such as debit cards.
That means an apparent reluctance to use a digital method may reflect cost, understanding, availability or trust rather than opposition to technology itself.
Design around real buying behaviour
Analysis: A merchant choosing payment options should consider transaction size, customer access and the setting in which the purchase happens. A method suited to a planned online order may be less appropriate for a small everyday purchase.
Clear explanations of fees, confirmation and refunds can help customers evaluate unfamiliar options. Businesses should also test the operational experience: staff support, reconciliation and handling failed transactions are part of the service.
The research is a dated national snapshot, not evidence that every community or customer segment behaves identically. Its value is in challenging the assumption that digital adoption follows a single path. Good payment design gives people a workable choice rather than treating cash use as a problem to be wished away.
Source
South African Reserve Bank: Annual Report 2024/25, consumer payment patterns.