Fintech boom in South Africa bypasses informal economies and township merchants, report finds

Summary

A new report from the FinTech Association of South Africa (Finasa) reveals that while fintech innovation has transformed banking for connected, urban South Africans over the past decade, it has largely excluded informal economies and township merchants. The report argues that the sector mistakenly equated innovation with inclusion, leaving millions of unbanked or underbanked South Africans behind despite advances in digital banking, real-time payments, and consumer choice.

Source

bskyFintech boom in South Africa bypasses informal economies and township merchants, report findstechcentral.co.za