ENSafrica stated, “Cash and digital payments are not direct substitutes: they work together in a hybrid payment system.”

Cash continues to remain embedded in South African commerce, especially popular with informal businesses and lower-income households. Cash payments, according to ENSafrica, are in these cases influenced by accessibility, cost, digital skills, and infrastructure. Because of this, the SARB does not see cash payment methods disappearing in favour of digital ones.

Darul Ihsan Media Desk