Best eWallets in South Africa [2022]

Best eWallets in South Africa [2022]

by | Jun 21, 2022 | 0 comments

Best eWallets in South Africa

Growing Demand for Digital Money and eWallets in South Africa

Africa has become the home to mobile money where the trends of digital wallets and digital applications can be seen in full swing. Some of the major reasons behind this increasingly popular trend are the high penetration of smartphone use in most of their countries, Moreover, as the businesses are developing digitally in order to get a competitive advantage, many merchants of South Africa are promoting and integrating diverse payment methods inspired by new technologies. As a result of which, the overall tech-savvy consumer base of the continents is rapidly increasing.

Out of all the e-commerce trends in the countries, one of the significant trends is that of eWallets. An eWallet is one of the secure money management platforms/applications, an alternative to cash money that enables the user to make all of their transitions with the company retailers on-site by sending, receiving, and transferring money.

Use of eWallets for Gambling and Online Casinos in South Africa

With the reportedly increasing use and reliance on eWallets, these digital cash alternatives aren’t being used only for simple transactions with retailers in the continent but the majority of the population is also using them for other businesses and purposes such as gambling, shopping, and other transactions.

Gambling is one of the ever-growing businesses in the entire continent of Africa. With the high number of casinos in demand, people nowadays are also embedding eWallets in gambling transactions. Just like other utilities, eWallets also assist in making online payments for gambling purposes without having the user need to remember his banking details every time when making a transaction. A few of the famous eWallets popularly used in African Casinos are Neteller, PayPal, Skrill, MuchBetter, etc.

Neteller and Skrill are among two of the best-supported payment methods used for gaming and gambling purposes in most countries including South Africa.

MuchBetter is an innovative and Nobel prize owner electronic wallet. This eWallet allows the device to retain, and transfer.

Other solutions include ecoPayz, Luxon Pay, etc.

Other payment option includes-

Coruscate: All of these eWallets come with different features and support different devices. All a user needs to do for using eWallets in gambling is to sign up for an account with any of these eWallet alternatives.

Velmie: The characteristics of its digital wallet system, which is built on a distributed system. Includes reliable two-factor security, active biometric identification, customized electronic payments, actual money transfers, and currency change.

Soar in Digital Wallet Use in South Africa Amid Covid-19

According to Statista, the use of digital wallets is widely being adopted in South Africa where almost 17% of the payments/transactions are conducted through eWallets. The recent crisis of covid-19 has further added an increment in the use of these digital and tech-savvy services, particularly in the region of South Africa. The majority of the population of South Africa is turning their heads to mobile and eWallets while dealing with the constraints offered by Coronavirus.

In response to this surge in the trends of digital money, there have been many wallets introduced by different providers such as Neteller, Luxon Pay, MuchBetter, CBA Tap, and Pay, Google Pay, and Samsung Pay, Apple Pay, Garmin, Pay, etc. While the most popular application in South Africa is Samsung Pay. It has been reported that in 2020, the application was used for executing more than two million transactions in this region alone. As the Samsung company distributes its Smartphones in high quantity in South Africa and the application is also designed to support many other mid-range smartphones of different companies.

Other than this, other best eWallets used in the region are Apple Pay, Google Pay, and other payment application based on devices such as Garmin Pay and Fitbit Pay. As a result of these alternatives, South Africa has reduced most of its reliance on cash and has shifted it towards digital money and payment methods.

0 Comments

Submit a Comment

Your email address will not be published.

Related posts

How To Deposit Money to ecoPayz [2022]

How To Deposit Money to ecoPayz [2022]

There are many ways for users to add funds to their ecoPayz wallets. In this article, we'll go through the most popular ways to deposit money to the ecoPayz wallet. How To Deposit Money to ecoPayz Follow the guidelines below to start depositing money into your wallet....

Best eWallets in Uganda [2022]

Best eWallets in Uganda [2022]

Best eWallets in Uganda The Bank of Uganda is one of the organizations striving for a cashless society. Smartphone technology has made mobile money services (MMS) more viable, and efficient MMS adoption has benefited Uganda's financial inclusion in both rural and...

Best eWallets in Kenya [2022]

Best eWallets in Kenya [2022]

Best eWallets in Kenya Transformation in Financial Services of Kenya in the 21st Century While the technology of eWallets, which nowadays is a fixated feature in most smartphones isn’t new but dates back to more than a decade earlier when the story in Kenya began in...

Best eWallets with Debit Cards [2022]

Best eWallets with Debit Cards [2022]

eWallets with Debit Cards Digital wallets are online payment systems that typically take the shape of an app. Since the wallet keeps virtual versions of debit, you shouldn't need to enter your card data or carry a physical card to make transactions. You might even...

Best eWallets in Nigeria [2022]

Best eWallets in Nigeria [2022]

The implementation of digital wallets has aided in transforming Nigeria into a cashless transaction and overcoming the sense of uncertainty and widening the digital economy. We've lately seen the rise of a variety of digital wallets designed to address the...

Top eWallets in Malaysia [2022]

Top eWallets in Malaysia [2022]

Top eWallets in Malaysia eWallet is one of the most well-known electronic payment methods available currently. Several nations have already made electronic wallets available to their clients as an element of their everyday purchasing transaction choices. In Malaysia,...

How to Withdraw Money from Skrill [2022]

How to Withdraw Money from Skrill [2022]

How to Withdraw Money from Skrill Skrill is an electronic wallet that allows users to do business, transfer cash, and make payments over the internet. It was launched in the United Kingdom in 2001, and PaySafe Group acquired it for $800 million USD in August 2013....

How to Withdraw Money from Neteller [2022]

How to Withdraw Money from Neteller [2022]

How to Withdraw Money from Neteller In the realm of digital wallets, Neteller is a household brand right now. The Paysafe Group, formerly known as Optimal Payments PLC, owns and operates it. It began as a payment option in a small number of nations when it was...

Virtual Visa Prepaid Card Commenced in the USA by Skrill [2022]

Virtual Visa Prepaid Card Commenced in the USA by Skrill [2022]

Virtual Visa Prepaid Card Commenced in the USA by Skrill Skrill, a leading digital wallet service, has launched the virtual version of its Visa Prepaid card for consumers residing in the United States. Skrill USA consumers can now make purchases online using the...

Best eWallets in Uganda [2022]

eWallets for Gambling [2022]

eWallets for Gambling eWallets are virtual accounts that allow players to transfer money (deposits and withdrawals) between them and licensed gaming companies. New systems, varied game types, unique championships, incentives, and various payment options for...