South Africa is undergoing a quiet but powerful payment revolution. According to the newly released 2025 “State of Consumer Payment in South Africa” report by Stitch, in collaboration with research firm Censuswide, a growing number of consumers are abandoning cash and even plastic cards in favour of instant, secure digital alternatives like Pay by Bank and mobile wallets.
Based on a survey of 2,000 South Africans, the report paints a compelling picture of a nation embracing financial technology at record speed. Among the fastest-growing methods are Capitec Pay and other direct-from-bank payment options. These are increasingly becoming preferred at the checkout—both online and in-store—thanks to features like real-time transfers, two-factor authentication, and no need to manually enter card details.
Mobile wallets like Apple Pay, Samsung Pay, and Google Pay are also seeing rapid uptake. Users are drawn by their speed, biometrics-based security, and compatibility across devices. Since their launch, many consumers have shifted away from traditional cards entirely, signalling a long-term behavioural shift.
This shift is backed by numbers:
• Capitec Pay processed over R2 billion in transactions in its first six months.
• 40% of respondents reported using a digital wallet in the past 3 months.
• Over 65% said they prefer instant bank transfers for online purchases.
Also gaining ground is Buy Now, Pay Later (BNPL), especially among younger consumers making larger purchases. Retailers report higher average basket sizes and improved checkout conversion when BNPL is available.
Meanwhile, manual EFTs and cash continue to fall out of favour. Some major retailers, like select Woolworths cafés, have gone fully cashless. The writing is on the wall: real-time, unified payment methods are not just a trend—they’re becoming the standard.
Still, there’s a cautionary tale. Rural communities, older populations, and those without reliable connectivity risk exclusion. However, initiatives like SASSA card disbursements and cashless public transport show that, with the right tools and education, inclusion is possible.
For South African businesses, the message is clear: invest in frictionless, secure, omnichannel payment solutions—or risk being left behind.
The future of payments is not just digital—it’s instant, inclusive, and intelligent.