Despite the surge in digital innovations, traditional payment methods continue to dominate everyday transactions in South Africa, with physical cards remaining the preferred and most convenient option for many consumers.
However, a recent report shows that South Africans are increasingly open to experimenting with new financial technologies, particularly when they combine ease of use with strong security measures.
“While traditional payment methods continue to play an important role, South Africans are showing that trust and technology can go hand in hand,” said Lineshree Moodley, Country Manager at Visa South Africa. She added that consumers are more likely to adopt new payment solutions that offer both convenience and peace of mind.
Biometric Security on the Rise
The survey highlights the growing popularity of biometric authentication. About 66 percent of respondents reported authorising payments using fingerprint or facial recognition, reflecting increased confidence in technology-driven security systems designed to reduce fraud.
Digital Wallets and Stablecoins Gain Traction
Digital wallets are also gaining momentum, with nearly four in ten South Africans identifying them as the fastest payment option. More than a third said they would recommend digital wallets to others, indicating rising trust in mobile-first payment experiences as smartphone use grows across the country.
Interest in digital currencies, particularly stablecoins, is also emerging, especially for international transactions. Among consumers who have previously sent money abroad, 57 percent said they would consider using stablecoins, signalling demand for faster and more efficient cross-border payments.
Artificial Intelligence Enters the Shopping Experience
Artificial intelligence (AI) is increasingly part of online shopping in South Africa. The survey found that 63 percent of consumers have used AI tools to assist with tasks such as finding gift ideas, researching products, or interacting with customer service platforms.
Yet, many shoppers remain cautious. While nearly 45 percent believe AI can help find the best prices, 63 percent still prefer human interaction for customer service, highlighting the continued value of personal touch.
Security and Privacy Remain Top Priorities
Security remains the most important factor influencing payment choices, with 88 percent of respondents ranking it as extremely important. Banks were seen as the main protectors against fraud by 76 percent of consumers, followed by payment networks at 71 percent.
Consumers are also taking steps to safeguard their finances. Nearly half have enabled two-factor authentication, while 40 percent regularly update their passwords. Despite these measures, concerns around data privacy persist, with about 60 percent worried about how AI-powered shopping and payment platforms use their personal data. However, 42 percent expressed confidence in their ability to detect AI-driven payment scams, indicating a growing awareness of digital risks.
The findings underscore a shifting payments landscape in South Africa, where traditional methods remain dominant but innovation, security, and trust are increasingly shaping consumer behaviour.
