We recently marked a milestone in pursuit of a cashless society in South Africa, where we worked with Blue Label Telecom to open up electronic payment acceptance in less fortunate or excluded areas.
This new partnership will see 22,000 small businesses – traders and rural shops – in South Africa equipped with a point of sale device, enabling them to accept cards for the very first time.
The impact of this emerging market development has many benefits. South Africans who now get their benefits electronically do not need to travel outside of their neighborhoods to get cash. They can stay at home – saving on that taxi ride – and transact locally to make purchases in the communities in which they live. The shop owners can now operate with less cash, save on bank account fees, and importantly, have more time in store to be with their customers.
We celebrate Blue Label Telecom and the many shop owners as Cashless Pioneers, as they are taking these important first steps toward enabling financial inclusion and advancing the South African society.
In the video below, hear directly from Blue Label, shop owners, and consumers on what this development means for them: