Payment Solutions in South Africa

Territories - Africa

Payments That Move South Africa Forward

UBank Connect helps your business accept and send secure bank transfers across South Africa with ease. Enjoy reliable transactions, local expertise, and full support for the country's growing digital economy.

South Africa is at the forefront of Africa’s digital transformation, with over 43.5 million internet users and a smartphone penetration rate exceeding 78%. As digital commerce accelerates, local businesses are embracing secure, direct bank transfers as a preferred payment method for speed and trust.

According to Mastercard, eCommerce sales in South Africa hit R55 billion in 2022, marking a 30% year-on-year increase—far outpacing traditional retail growth. The country’s digital payment market is forecast to reach over $64.9 million USD by 2030, supported by rising consumer demand for secure and accessible payment options.

Market Overview

Population

64.7 million
Online Population

50.8 million
Currency

ZAR

e-Commerce Market Value

$7.32 billion
GDP

$410.37 billion
GDP per Capita

$6,400

Available Payment Methods

Whether you’re entering the South African market or optimizing your current operations, UBank Connect provides a reliable and secure bank transfer solution built to support local business needs. With no intermediaries and no unnecessary delays, our platform ensures fast, seamless transactions that your customers can trust. Simplify your payment processes and scale with confidence—UBank Connect is your trusted partner for secure bank transfers in South Africa. UBank Connect is your trusted global payment partner—offering secure, fast, and scalable solutions tailored for growth. Start simplifying your payments today with UBank Connect.

Why choose UBank Connect?

Direct connection to banks
Dedicated bank account(s)
Local technology and operations team
Flexible and competitive rates
Global reach with a single API access
Support in emerging markets

Key Takeaways

South Africa’s digital payments market is projected to grow at a CAGR of 7.53% from 2024 to 2030, reaching USD 36.29 billion by 2030.
The eCommerce market is expected to grow by 9.76% in 2024, reaching USD 8.5 billion, with a projected CAGR of 8.22% through 2028.
As of January 2025, South Africa had 50.8 million internet users, representing a 78.9% penetration rate.
There were 118.6 million active mobile connections in early 2024, equivalent to 195.4% of the total population.
Bank transfers remain a trusted and widely used payment method, particularly for high-value transactions and B2B payments.

Get started today!

Discover how UBank Connect can enhance your payment solutions in South Africa. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.

Territories - Africa

Payments That Move South Africa Forward

UBank Connect helps your business accept and send secure bank transfers across South Africa with ease. Enjoy reliable transactions, local expertise, and full support for the country's growing digital economy.

Market Overview

Population

Online Population

Currency

e-Commerce Market Value

GDP

GDP per Capita

Available Payment Methods

Why choose UBank Connect?

Key Takeaways

Get started today!

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