Nearly four out of 10 South Africans use digital wallet – report

Visa SA has revealed that digital wallets are becoming one of the fastest payment options, with South Africans increasingly embracing innovative payment technologies such as digital wallets, artificial intelligence (AI) andcryptocurrency. According to Visa SA, nearly four out of 10 South Africans use digital wallet options. Among the findings, the company said smart technology applications such as biometric authentication are widely used, with 66% of local consumers relying on them when making purchases.

“Traditional payment methods continue to play an important role with physical cards still regarded as the most preferred and convenient way to pay,” said Lineshree Moodley, country manager at Visa SA. “South Africans are showing that trust and technology can go hand in hand, with consumers increasingly willing to adopt new payment solutions when they deliver both convenience and peace of mind,” Moodley said. Nearly four in 10 (39%) respondents said digital wallets were the fastest payment option, while more than a third said they would recommend them to others — signalling growing confidence in digital-first payment experiences.

For those sending money abroad, 57% said they would consider using stablecoins as a form of payment, highlighting a strong appetite for faster and more efficient cross-border transactions. Visa SA also said shoppers were increasingly turning to AI to make shopping easier and more efficient. “Sixty-three percent of South African consumers have used AI to assist with shopping-related tasks, including brainstorming gift ideas, researching products, or communicating with customer service.

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“Consumer expectations are clear: As shoppers integrateAI into their routines, they’re setting clear expectations. Almost 45% believe that AI-powered tools are more likely to find the best possible price. However, 63% prefer to speak with a human customer service representative rather than AI.” The company added that security remained a key concern for South Africans, but that consumers were increasingly accepting the role AI played in ensuring a safe payment experience.

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