TRANSACTING IN CASH NEEDN’T BE A ‘CASH-22’
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The transition to a cashless society is underway in some parts of the world, but South Africa and other emerging markets remain a “cash-full society,” characterized by various businesses and industries where cash is still king.
South Africans are not opposed to digital transactions; however, the majority still rely on cash transactions. The cash problem is not only an external or environment-based issue, people still have a deep sentimentality associated with cash. While technology may offer us a new convenience, it also requires a behavioural change in consumers, which they may not be willing to accept.
South Africans are not opposed to digital transactions; however, the majority still rely on cash transactions. The cash problem is not only an external or environment-based issue, people still have a deep sentimentality associated with cash. While technology may offer us a new convenience, it also requires a behavioural change in consumers, which they may not be willing to accept.
