Mobile wallet technology has been available for almost a decade, but its popularity is now really gaining momentum worldwide.
Africa ranks second in the world in terms of mobile money usage by continent, mainly due to Kenya’s M-Pesa system.
Although we have the most developed financial services industry on the continent,South Africa is still lagging behind when it comes to mobile money.
We have an estimated 59 million phones registered in South Africa; meaning that mobile wallets have great potential.
Johan DekkeR, COO of PayU, an electronic payments company spoke to us about the advantage of electronic wallets.
The fear of security is misplaced. A lot of service providers have put in a lot of effort to secure the platforms and protect the users through screening technology.— Johan DekkeR, COO of PayU
Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:
This article first appeared on 702 : Lighter pockets on the cards with rise of mobile wallet technology