These players have deepened the reach of electronic payment networks by targeting flea markets, self-employed artisans such as plumbers and spaza shops in rural areas – all previously underserved markets in terms of access to card payment networks.
The potential of this type of technology means that, in the near future, we could possibly triple the level of the current 600 POS devices per 100 000 citizens to close to 2 000. This vividly demonstrates the potential of FinTech to broaden the network and deepen inclusion.