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%).

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

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.

Network International has acquired 100% of Africa's largest payment service provider, DPO Group, which will continue to operate under the same brand in existing territories.

ASX-listed Zip Co Limited (ASX: Z1P) has announced its intention to fully acquire South African buy now pay later (BNPL) fintech Payflex as part of its global expansion plans.

South African fintech firm Yoco has secured $83 million (R1.2 billion) in Series C funding, amid a surge in demand for its digital payment solutions among African small businesses.

Online merchants in SA which offer a buy now pay later (BNPL) payment option are achieving up to 30% higher average order values from their customers, larger purchases and significant revenue increases through more sales conversions.