A report from Absa CIB out today showed a marked shift in South African payment preferences. Locals are opting for buy-now-pay-later BNPL and mobile wallets instead of traditional card transactions. CNBC Africa is joined by Dale Spencer, Senior Coverage Banker, Consumer Sector, Absa CIB for more.
In a transformative shift reshaping South Africa's payment landscape, consumers are increasingly gravitating towards buy-now-pay-later BNPL options and mobile wallets, steering away from traditional card usage. This trend, highlighted by a new report from Absa Corporate and Investment Banking CIB, underscores the evolving needs of the South African middle class amid ongoing economic challenges.
