Digital wallets surging in SA

I basically never use my physical card. In fact I make an effort to actively avoid ever using it's details anywhere.

I create multiple virtual cards for various purposes (subscriptions, shops, online, sites I am not sure on)

That way if a card gets leaked I can just roll a new virtual with no need to cancel a physical and get a new one delivered. Also it narrows down who may have leaked the details and reduces the blast radius of where I need to change my card.

Furthermore I use Google Wallet basically everywhere that also uses a virtual cards. The ideal world is that the physical card details never leave the envelope they were delivered in.

I even did this when we travelled overseas. Made a dedicated Portugal card with a portion of the funds preallocated into Euros
 
digital wallets like Google, Apple and Samsung are just cards anyway

big whoop, any merchant who can accept card transactions can accept those "digital wallet" transactions, this kind of research merely points at consumers choosing convenience, big surprise, but they are not choosing a new payment method as it is in fact the same old payment method with slicker UX
 
Been cashless for 2 years now. Only once has it been a problem... toll gates.. was essentially stranded, had to call a family member to give me money so I could get through.

My wife had cash but my kid spent it on ice creams without us realizing. Was a pretty big problem hey, I can't draw money from an ATM with my phone, they didn't accept any payments other than cash, not even in the offices. If my family didn't live at the same town the tollgate was located at I would have had to beg.
 
GreyBush said:
Been cashless for 2 years now. Only once has it been a problem... toll gates.. was essentially stranded, had to call a family member to give me money so I could get through.

My wife had cash but my kid spent it on ice creams without us realizing. Was a pretty big problem hey, I can't draw money from an ATM with my phone, they didn't accept any payments other than cash, not even in the offices. If my family didn't live at the same town the tollgate was located at I would have had to beg.
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Shitty bank?

FNB lets me draw money with my phone all the time.
 
SauRoNZA said:
Considering most are unbanked they are likely left out of the equation entirely, so 70% within that context doesn't sound too crazy.

They are more than likely including non-NFC options like Scan to Pay.

However the "One in every five South Africans was a frequent user." statement makes it sound more like the 70% registered it once and then only 20% kept using it.

The term "Digital Wallet" is problematic in and of itself because a wallet is a method of storing money....paying with Apple Pay/Samsung Pay/Google Pay is not using a Wallet it's a payment mechanism.

But also, who the hell buys their kid a fancy new phone but not themselves? No way, that is hand me down central. You get yourself the new phone and your kid gets the 3-5 year old one.
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As far as the phones go, I personally haven't replaced my phone in over 5 years, and the kids are middle aged and can buy their own. but i have a ton of friends who get a new phone this week and by next, the wife or daughter has it and dad is wondering around with an old phone again. Can't speak for everyone of course. :ROFL:
 
Bad Ballie said:
As far as the phones go, I personally haven't replaced my phone in over 5 years, and the kids are middle aged and can buy their own. but i have a ton of friends who get a new phone this week and by next, the wife or daughter has it and dad is wondering around with an old phone again. Can't speak for everyone of course. :ROFL:
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Sounds like they need to put their big boy pants on more than anything else.
 
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