A recent industry report highlights that South Africa's shift towards a cashless economy has overlooked millions of individuals, particularly in informal markets. The report suggests that the sector has confused technological innovation with financial inclusion, resulting in a significant portion of the population being left behind in the transition to digital payment systems.

African Banking Corporation Limited (ABC Bank) has gone live on the Pan-African Payment and Settlement System (PAPSS), enabling its customers to send and receive payments across 28 participating African countries instantly, securely and affordably. According to Business Today, the service allows individuals and businesses to make near-instant personal and business payments directly from their ABC Bank accounts to recipients' accounts in other African markets.

Visa, along with First National Bank (FNB) and Rand Merchant Bank (RMB), is focusing on the corporate cash market, following the trend of South Africans adopting digital payment methods at retail locations. The companies believe that businesses will increasingly move towards digital transactions, similar to consumer behavior.

According to CIO Africa, Africa's payments landscape is evolving into a new phase that goes beyond mere digital transactions, focusing on the development of intelligent and interconnected financial ecosystems. This shift indicates a significant transformation in how financial services are delivered and utilized across the continent.

South Africa has introduced a new system that replaces one of the most frustrating steps in the travel entry process, according to The South African. The change is intended to make entry into the country easier for travellers. Details of exactly how the new system works and what it means for upcoming trips were outlined in the publication's report, though the blurb provides limited specifics about the nature of the system or when it takes effect.

According to TechCabal, South Africa's largest banks are adopting mobile services to enhance customer engagement and expand their user base. This shift is seen as a strategy to generate new revenue streams amid a stagnating banking market, as banks aim to integrate more deeply into customers' daily digital activities.