how the emerging technologies can be used to make financial services more accessible to those in the low income, unbanked and rural communities in South Africa; and how the emerging technologies can be used for cash displacement and to solve problems such as the cost of cash handling and robberies. 3.
The characteristics of electronic payments  Basically two methods of making payments can be distinguished. The first is the account transfer system. In this system customers issue instructions to banks to debit the account of the person making a payment and to credit the account of the person receiving the payment.