South Africa’s retail sector has entered the age of ecommerce, with total online retail sales expected to reach R42-billion by the end of 2021.

Retail up 78%, betting & gambling up 152% and fintech up 240%.

Following a record-breaking Black Friday/Cyber Monday period in 2020, it’s not surprising that this year PayFast once again broke records.

Buy now pay later online sales this Black Friday and Cyber Monday are triple those recorded in 2021, driven overwhelmingly by SA’s female shoppers (73%).

First National Bank (FNB) and RMB Private Bank customers can now use the scan-to-pay feature on their banking apps to make contactless payments at Zapper-enabled merchants across SA.

Ozow has raised $48m (R760m) in a Series B funding round that was led by internet technology company Tencent.

PayFast announces the addition of a Buy Now Pay Later (BNPL) payment option with MoreTyme by TymeBank.

Yoco’s has introduced its latest innovation for merchants to help fuel their business growth.

Power interruptions (whether planned or unplanned) can have a detrimental effect on any business’ ability to trade, especially with the busy Black Friday and Festive Season shopping periods ahead.

In response to the new Covid reality, where financial austerity sits side by side with a rise in ecommerce trading, the Buy Now, Pay Later concept is changing the game.