Business Talk – PayInc’s Israel Skosana on powering South Africa’s digital payment future
In this Business Talk with Michael Avery interview, Israel Skosana unpacks how the finance industry is evolving and what hurdles are inhibiting digital payment adoption in South Africa.
Skosana is Chief Product and Scheme Officer at PayInc and a seasoned South African banking executive with over two decades of experience in the finance industry.
Before assuming his current role at PayInc, Skosana held multiple other notable positions at leading financial companies.
These roles include:
- Chairman of the Board – Nesa Capital
- Regional Councillor – UnionPay International
- Group Executive Head: Card Issuing – Standard Bank Group
- Head of Consumer Products, Debt, and Prepaid Cards – Mastercard
- Head Strategic Development and Partnerships – Absa
Across these roles, Skosana has developed an expertise in ensuring operational excellence and is known for his great policy-level leadership.
He holds an MBA from the Gordon Institute of Business Science (GIBS) and an International Executive Diploma in Banking from Wits and Cass Business School BankSeta.
The interview
In this Business Talk interview, Skosana discusses how trends surrounding card and cash payments in the formal and informal sectors are changing.
Skosana explains how services such as Ozow and PayShap Request are making it easier for South Africans to transact.
He then touches on the role PayInc plays in connecting South Africa’s financial systems and how the company is expanding access to financial services across the country.
Skosana also outlines the recent rebrand of BankServ into PayInc and why collaboration is important in South Africa’s financial sector.
He concludes the interview by sharing the new technologies PayInc is investigating and how the finance industry can overcome the biggest challenges to digital payment adoption in South Africa.
Watch the interview with Israel Skosana below.
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