Natural beauties, the fastest animals and the passion for independence! South Africa is one of a kind in many aspects, and its nickname “rainbow nation” fits just perfectly. With its over 11 official languages and many more unofficial ones, South Africa is the birthplace of many different cultures and historical heritages. As diverse as it is, the people of South Africa know how to stand together and create a strong nation both culturally and economically. Let’s learn more about this astonishingly beautiful country, its people, and payment methods in South Africa.
Officially called the Republic of South Africa (RSA), South Africa is located in the southernmost region of the massive continent of Africa. The country is home to more than 60 million people from different races and ethnicities, including Black South Africans, who comprise around 80% of the population, White South Africans, Asians and multiracials nicknamed “Coloureds”. The country is not only diverse in ethnicities and religions but also languages and natural habitats.
The 11 official languages of South Africa are Africans, English, Isı Ndebele, İsiXhosa, IsiZulu, Northern Sotho, Sesotho, Setswana, SiSwati, Tshivenda and Xitsonga. South Africa has three capital cities which are Pretoria (administrative), Cape Town (legislative) and Bloemfontein (judicial). Honestly, a wonderful rainbow, we must say!
On the other hand, the natural beauties of South Africa are more than you can shake a stick at. But to name a few, some of the speediest animals on Earth, including cheetahs and lions, live in South Africa. The country is home to almost 10% of the world’s bird, fish and plant species and around 6% of its mammal and reptile species. The marine life of South Africa is also as diverse as the land life, with over 2000 marine species. This country is a treasure for the world’s natural beauty, from animals to natural resources.
If we need to talk about the general socio-economic state of South Africa, it is not always sunshine and butterflies. Even though South Africa has a highly developed economy and an advanced infrastructure, most citizens do not have access to proper education and healthcare. Hopefully, this situation will be history soon through developed countries’ assistance and promising projects.
The lucky minority with high income can pay for their children’s education in proper schools. Yet, the rest either struggle or get help from the government to send their children to overpopulated schools. There is an immense problem of inequality when we consider the gap in test scores between the top 20% and the rest is almost the widest in the world.
When it comes to healthcare, it does not look better than education. According to the 2020 Global Healthcare Index, South Africa’s healthcare system ranks 49th out of 89 countries due to the country’s health care is not accessible and never free.
Choosing Payment Methods in South Africa
Now that we have touched on the good and bad of South Africa, it is time to talk about the preferred payment methods and practices in South Africa. South African people still prefer making their payments mostly with cash. Let’s see the other options and which might be the best payment option in South Africa for you!
What are the Different Types of Payment Methods in South Africa?
While cash is still widely preferred, payment practices in South Africa have been shifting to more conventional methods such as credit and debit card usage. Not everyone has access to banks and mobile payment options. However, the same as in most of the world, a shift to more technological approaches is inevitable.
- Cash in South Africa
Cash is still a vastly preferred payment option in South Africa. Especially in rural areas, electronic payments are not always available, and the country’s older generation still sticks to using cash as their primary form of payment. Cash still takes up to over 50% of all consumer transactions’ total value, which is why South Africa still has a long way to go cash-free. However, when we think of the ease of cash usage, we can understand why South Africans can not leave it behind.
- Credit Cards in South Africa
While cash is still the most preferred among the citizens, credit and debit cards are widely accepted within South Africa and used predominantly by international business people and even tourists. Credit cards are considered the most convenient and secure payment option for foreigners. Most major credit cards used in South Africa are Visa and MasterCard.
Debit cards are also a good idea for those who do not want to pay credit card fees but still want to take advantage of the security and practicality of credit cards. If you are a tourist travelling to South Africa, you might want to use cash for your small payments, yet using your credit and debit card should not create a problem.
- Digital Wallets in South Africa
Online payments are becoming more popular for the younger generation and the wealthier portion of South Africa. Digital wallet usage in South Africa has increased apparently while new options started to appear. Since a significant part of the country does not have access to new technology investments and education, digital wallets need some time to become the most popular payment method in South Africa.
In the upcoming years, when technology is handier, and the world is closer to going cash-free, South African people will also need to shift to online payment methods. At the end of the day, digital wallets and other online payment methods make everything swift, more opportunely and more assured. Suppose you are travelling to South Africa and searching for a digital wallet to complete your transactions in South Africa. In that case, we suggest checking the available digital wallets in the country and keeping cash on you for your small transactions just in case.
- Cryptocurrency in South Africa
It is entirely legal to buy, sell and trade cryptocurrencies in South Africa. Cryptocurrency usage is becoming increasingly popular worldwide, and in the upcoming years, South Africa might find more ways to incorporate cryptocurrencies for daily payments. Hopefully, South Africa will soon regulate cryptocurrency under the Financial Advisory and Intermediary Services (Fais) Act. It would really be a misfortune for a developing country to miss the chance of going crypto-friendly!
Jeton Wallet in South Africa
Our functional and innovative digital wallet, Jeton Wallet, welcomes all South African users who have been struggling with slow and unreliable online payment methods over the years. Transaction fees costing an arm and a leg, transfer durations taking days, and waiting in suffocating bank branches with a pile of documents are all over thanks to the digitization of online payments.
Our foreseeing inner circle with tremendous experience in Southern African countries understands the attitude of consumers and merchants in this spectacular country. We carry on our international money transfers and scheduled payments depending on the recent trends while we also place currency of legal tender, South African Rands. Besides Rands, our users will find a plethora of popular fiat currencies and cryptocurrencies (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Tether Omni) available in our game-changer digital wallet services.
In addition to not being limited regarding a narrow range of choices in currencies, we provide low exchange rates; therefore, you do not have to worry about which currency you desire to receive or send. Amazing! Right?
To meet our smooth payment services and more, please visit jeton.com today! Let us carry your online experience to the next level together!