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Payment methods in South Africa

Here are the top takeaways you need to know about the South African e-commerce market:

The average online shopper in South Africa spends US$166 a year with e-commerce merchants, rising to US$192 by 2027.
In 2023, the South African e-commerce market was worth US$8 billion. By 2027, it will be worth US$11 billion.
Between 2020 and 2022, the proportion of South Africans with a bank account rose from 69% to 76%.
In South Africa, online shoppers use digital payment methods in almost half of all transactions, with e-wallets and bank-transfer apps each having around 20% of the market.
South African online shoppers complete almost 50% of their online purchases using a mobile device such as a smartphone or tablet.

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Population

Online Population

B2C E-commerce

Banked Population

Credit Card Population

E-commerce of Total Retail

Payment Method Breakdown

Card 43%
Cash 9%
Bank Transfer 22%
E-Wallet 20%
Other 6%

[{"label":"Card","value":"43"},{"label":"Cash","value":"9"},{"label":"Bank Transfer","value":"22"},{"label":"E-Wallet","value":"20"},{"label":"Other","value":"6"}]

Card Scheme Breakdown

Visa 52%
Mastercard 47%
American Express 1%
Local schemes 0%
Other 0%

[{"label":"Visa","value":"52"},{"label":"Mastercard","value":"47"},{"label":"American Express","value":"1"},{"label":"Local schemes","value":"0"},{"label":"Other","value":"0"}]

Cross-Border E-Commerce

Online shoppers who have shopped cross-border

N/A

Cross-border proportion of total e-commerce

N/A $US

Value of cross-border e-commerce

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Top cross-border shopping origin markets