Comparison tools lead the way for price transparency in e-commerce Online shopping has become increasingly popular amongst South African consumers. Convenience, competitive pricing, and a wide choice of products make online purchasing a no-brainer for tech-savvy shoppers, but retailers need to stay ahead of the curve when it comes to standing out against the competition. Over [...]

Contactless cards will account for 57% of payment cards worldwide by 2023 as issuers increasingly offer them as standard, and acceptance grows to reflect customer demand. Issuers offer contactless functionality to persuade customers to use cards instead of cash Research from RBR’s Global Payment Cards Data and Forecasts to 2023 shows that issuers across the world [...]

Success for International growth. Do not stumble before you get to first-base. The South African economy continues to grow at a slow rate, and whilst there are opportunities for niche products, disruptors and new technologies, ambitious businesses are increasingly looking at growing internationally. The statistics look very appealing; sizes of markets, growth rates and pricing models. [...]

The purpose of this communiqué is to announce the adjusted interchange rates for automated teller machines (ATMs). The South African Reserve Bank (SARB) annually reviews interchange rates for transactions emanating from the ATMs, cards and point-of-sale devices. In 2018, the SARB decided to keep the interchange rates for cards and cashback at point-of-sale devices unchanged. However, [...]

The Ombudsman for Banking Services (OBS) has released its Annual Report highlighting some interesting statistics for its operations for 2018. Key highlights for the year are: 7307 cases were closed – 12% more than in 2017 and an increase of 40% over the last two years ATM fraud complaints dropped by 4% from 18% to 14% [...]

Brand-new research shows that the number of ATMs installed worldwide fell by 1% in 2018, to stand at 3.24 million, impacted by branch closures and the rising popularity of mobile payments. China’s ATM numbers continue rapid fall According to a brand-new report from RBR, Global ATM Market and Forecasts to 2024, ATM numbers dropped in four [...]

An article by Rachel Thompson, Insights Director at GfK South Africa originally published here. We’re seeing the needs, expectations and behaviours of young South African consumers evolve at a pace that threatens to leave brands behind. As centennials – or Generation Z – move into the workforce and become the next wave of consumers, brands will need [...]

The purchasing power of South Africa’s 18-million female consumers is undeniable given that 71% of them are responsible for grocery shopping, while 60% are the primary purchaser within South African households making them a force to be reckoned with, in the local retail sector. It’s clear that this influence will only grow, with 21-million female consumers [...]

The deployment of Consumer Device Cardholder Verification Method (CDCVM) solutions across the payments ecosystem is increasing. EMVCo is therefore working to promote confidence and consistency by identifying and addressing specific security, functional and performance needs for CDCVM. With traditional Cardholder Verification Methods (CVM), consumer authentication is performed on the merchant system (a PIN entered into a [...]

Source: RBR (www.rbrlondon.com) Online card expenditure growing at double digit rates and will continue to increase significantly faster than card spending at physical outlets to account for nearly a quarter of all card expenditure by 2023. Cardholders moving away from physical outlets in search of lower prices and convenience Research from RBR analyses the role that [...]