06 Nov Online Payments in South Africa for Multinational eCommerce Companies

The South African online payments market is relatively friendly for multinational eCommerce companies who are entering the South African eCommerce market and looking for a payment provider.

According to Statista, digital payments in South Africa will exceed $8bn in 2019 and most of it is eCommerce payments - the CAGR is around 11%.

Although the stats are a little dated, according to Statista, the most popular payment methods are 

  • Credit card (45%)
  • Debit card (21%)
  • Bank transfer (20%)

(Figures from 2017 reported by Statista 2019)

In our experience if you accept credit card and debit card for your online and eCommerce payments you are well covered.   The card schemes are increasingly rolling out debit cards to most of the population and more and more debit cards are enabled for online shopping.  Most connected and eCommerce-ready consumers have a card.

A consideration for multinational eCommerce Companies entering the space is to make sure you can get your money out of the country which means getting SARB permissions.

South Africa is a great place for a soft landing for eCommerce companies entering the market.  We as a local South African payment provider can help with immediate go-to-market and help get the necessary permissions to make online payments possible for you. 

Click here to get more info or to get started.


Thank you.