Cash or card?

By KOPANO MONAHENG | 31 May 2022 | Published by Daily Sun Gauteng

You know technology has arrived when shoppers no longer have to carry cash. While this is good news to a majority of South Africans, small and medium enterprises as well as the poor are the ones going to be affected the most.

Andrew Dawson, managing director of MACmobile, said there was a drive to promote cashless payment systems into the payment systems into the retail market of South African.

“While cash is undeniably a risk, it is not necessarily a resolvable issue. Many players in the market are still cash-based by choice because cashless payment solutions do not suit them for a variety of reasons,” said Dawson

That’s why before introducing a card system, first thing is to focus on educating business owners to ensure they operate successfully. He said once everyone understands the benefits of a formal banking system then the country can move to a cashless payment system.

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