e-Commerce and Payments in South Africa
A rising star leading the digital revolution in Africa.
South Africa has the largest credit card penetration compared to other African markets. With a smartphone penetration rate of 78%, South Africa has one of the continent's fastest expanding economies, making it a desirable market for businesses especially mobile commerce.
Market Overview
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Population
60.4 million
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Online Population
43.5 million
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Currency
ZAR
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e-Commerce Market Value
$6.36 billion
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GDP
$407.5 billion
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GDP per Capita
$6,485
Available Local Payment Method
EFT
Type
Bank Transfer
Regions
Africa
Key Takeaways
- The increased use of mobile devices, expanded internet connectivity, and other factors have all contributed to the fast growth of Africa’s digital payments ecosystem.
- The majority of South Africans’ online purchases come from local websites or marketplaces, although 27% come from the US and 14% come from Europe. The third most popular e-commerce website in South Africa is the American counterpart of amazon.com.
- The most popular payment options are credit and debit cards. Customers also make online payments via EFT and e-wallet services.
- When asked what they liked best about internet shopping, 49% of South Africans cited convenience, while a staggering 77% stated they avoided crowds by using it.
