While South Africans are rapidly shifting towards digital-first payment solutions, cards are still regarded as the most preferred and convenient way to pay
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IVisa's latest survey sheds light on how South Africans are rapidly shifting towards digital-first payment solutions.
From biometric authentication to artificial intelligence (AI), nearly four in ten consumers highlight digital wallets as the fastest payment option, underscoring a profound transformation in the way individuals manage their finances.
“While traditional payment methods continue to play an important role, with physical cards still regarded as the most preferred and convenient way to pay, South Africans are showing that trust and technology can go hand in hand, with consumers increasingly willing to adopt new payment solutions when they deliver both convenience and peace of mind,” said Lineshree Moodley, country manager at Visa South Africa.
The confidence in digital payments is bolstered by the adoption of advanced security tools. A significant 66% of South Africans now authorise payments via biometric methods such as fingerprint or facial recognition. This figure highlights a growing familiarity and comfort with secure, technology-enabled transactions.
Furthermore, 39% of respondents indicate that they perceive digital wallets as the swiftest payment option available. With more than one-third willing to recommend them to friends and family, this sets an encouraging precedent for the digital-first payment experience.
Among South Africans who have sent money abroad in the past, fifty-seven percent (57%) say they would consider using stablecoins as a form of payment, highlighting a strong appetite for faster and more efficient cross-border transactions.
The integration of AI into the shopping experience also highlights a significant shift in consumer behaviour. A notable 63% of South African consumers have turned to AI to assist with various shopping-related tasks, from generating gift ideas to researching product information and seeking customer service.
As technology becomes increasingly embedded in shopping routines, consumer expectations are evolving. Almost 45% of participants believe AI is better suited to find the best prices; however, 63% still favour interacting with human customer service representatives over AI.
The paramount concern regarding security in financial transactions remains clear as 88% of respondents deem it “extremely important” when selecting a payment method. While consumers broadly trust banks (76%) and payment networks (71%) to protect against emerging threats, there is an acknowledgment of shared responsibility. Notably, 67% of South Africans feel an obligation to detect payment fraud and security issues themselves.
South African consumers are taking proactive measures to enhance their security, with nearly half enabling two-factor authentication and 40% regularly changing passwords. However, concerns linger regarding AI's handling of personal data, with 60% expressing unease about its use. 42% of consumers feel confident about identifying AI-related payment scams, suggesting a growing awareness of digital risks.