{"id":877493,"date":"2026-09-30T14:50:16","date_gmt":"2026-09-30T12:50:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=877493"},"modified":"2026-09-30T14:50:19","modified_gmt":"2026-09-30T12:50:19","slug":"banking-goes-digital-first","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/877493\/banking-goes-digital-first\/","title":{"rendered":"Banking goes digital-first"},"content":{"rendered":"\n<p><em>By Gabri\u00e9l Swanepoel, Mastercard division president, Africa<\/em><\/p>\n\n\n\n<p>Africa is among the fastest financial transformations the world has seen.<\/p>\n\n\n\n<p>A young, digitally native population is shifting an entire continent toward a digital or mobile-first economy.<\/p>\n\n\n\n<p>In Southern Africa, <strong><a href=\"https:\/\/www.worldbank.org\/en\/publication\/globalfindex\/brief\/financial-inclusion-in-sub-saharan-africa-overview\" target=\"_blank\" rel=\"noreferrer noopener\">95 to 98 percent<\/a><\/strong> of existing account owners already utilise digital financial products.<\/p>\n\n\n\n<p>However, adoption alone does not create a digital economy.<\/p>\n\n\n\n<p>Sustainable digital growth depends on payment systems that can move money securely and at scale, connecting consumers, businesses and institutions without friction.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/www.mastercard.com\/za\/en\/business\/payments\/consumer-payments\/next-gen-payments\/digital-first.html?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=September+2026\" target=\"_blank\" rel=\"noreferrer noopener\">Click here to learn how Mastercard is helping make banking a digital-first experience<\/a>.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">What digital-first really means for payments<\/h2>\n\n\n\n<p>Digital-first finance is not simply a digital wrapper on a traditional process.<\/p>\n\n\n\n<p>It reflects a fundamental shift in how people expect access to and use money.<\/p>\n\n\n\n<p>Customers sign up digitally, manage their finances, limits, security toggles and subscriptions all in one place from a mobile device.<\/p>\n\n\n\n<p>For users, the experience feels simple and intuitive. This is the experience Gen Z and younger millennials already expect and increasingly demand from financial services.<\/p>\n\n\n\n<p>At Mastercard, our role is deliberately specific. We are not the bank. We power the payment network behind digital experience.<\/p>\n\n\n\n<p>By connecting issuers, acquirers, fintechs, merchants and consumers through trusted infrastructure, we enable, in collaboration with banks and other ecosystem participants, secure transactions, real-time authorisation, broad acceptance and efficient settlement, allowing faster, more seamless and more personal payment experiences to reach people and businesses every day.<\/p>\n\n\n\n<p>Across South Africa, digitally enabled banks demonstrate what becomes possible when modern customer experiences are built on resilient payment infrastructure.<\/p>\n\n\n\n<p>Customers can open accounts remotely, in many cases receive approval quickly, and when supported by the issuing bank, begin transacting immediately.<\/p>\n\n\n\n<p>To the end user, the experience feels simple because the complexity, from authorisation to security and acceptance, is handled behind the scenes.<\/p>\n\n\n\n<p>Building the foundational rails to support this is essential. Mastercard grew its acceptance network across Africa by <strong><a href=\"https:\/\/www.mastercard.com\/news\/eemea\/en\/newsroom\/press-releases\/en\/2025-1\/december\/mastercard-boosts-africa-acceptance-network-by-45-in-2025-accelerating-the-continent-s-digital-economy\/\" target=\"_blank\" rel=\"noreferrer noopener\">45 percent<\/a><\/strong> in 2025, bringing millions more consumers and small businesses into the digital economy.<\/p>\n\n\n\n<p>In South Africa, card payments were projected to reach <strong><a href=\"https:\/\/www.globaldata.com\/media\/banking\/south-africa-card-payments-to-exceed-158-billion-in-2025-amid-digital-surge-and-inclusion-push-forecasts-globaldata\/\" target=\"_blank\" rel=\"noreferrer noopener\">R2.9 trillion<\/a><\/strong> last year, driven by demand for faster, more secure and more convenient transactions.<\/p>\n\n\n\n<p>However, seamless payment experiences require both sides of the transaction to be supported.<\/p>\n\n\n\n<p>While consumers may be ready to transact instantly via mobile, businesses also need reliable and efficient ways to receive and manage those payments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The real engine of growth: on-soil investment<\/h2>\n\n\n\n<p>Sustainable digital banking growth takes more than technology.<\/p>\n\n\n\n<p>It takes investment on the ground \u2013 infrastructure, talent and local innovation ecosystems that turn ideas into real and relevant products.<\/p>\n\n\n\n<p>Secure data centres, interoperable payment platforms and collaboration with banks, governments and fintech companies ensure digital solutions become tools people actually use.<\/p>\n\n\n\n<p>Mastercard continues to play a crucial role in powering the South African digital economy, <strong><a href=\"https:\/\/www.mastercard.com\/us\/en\/personal\/ways-to-pay\/contactless.html\" target=\"_blank\" rel=\"noreferrer noopener\">from tap-and-go<\/a><\/strong> payments to <strong><a href=\"https:\/\/www.mastercard.com\/us\/en\/news-and-trends\/stories\/2025\/one-click-checkout.html\" target=\"_blank\" rel=\"noreferrer noopener\">one-click<\/a><\/strong> e-commerce and <strong><a href=\"https:\/\/b2b.mastercard.com\/about-cybersecurity-and-experience\/\" target=\"_blank\" rel=\"noreferrer noopener\">artificial intelligence-powered cybersecurity<\/a><\/strong> tools that can calculate risk and find fraud in real-time, protecting billions of transactions across our network each year.<\/p>\n\n\n\n<p>Small businesses and consumers rely on timely access to funds.<\/p>\n\n\n\n<p>Faster settlement allows merchants to restock, pay employees and keep the digital economy moving as money flows seamlessly across the ecosystem.<\/p>\n\n\n\n<p>Mastercard enables acquiring banks, in supported markets, to process card payments for merchants in <strong><a href=\"https:\/\/www.mastercard.com\/news\/eemea\/en\/newsroom\/press-releases\/en\/2024\/october\/mastercard-accelerates-the-path-toward-real-time-card-payments\/\" target=\"_blank\" rel=\"noreferrer noopener\">real-time<\/a><\/strong> through the introduction of real-time clearing and more frequent settlement cycles.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Inclusive growth for all<\/h2>\n\n\n\n<p>Despite this progress, the cash-to-digital transition remains incomplete.<\/p>\n\n\n\n<p>According to World Bank data, only <strong><a href=\"https:\/\/www.mastercard.com\/us\/en\/business\/cybersecurity-fraud-prevention.html\" target=\"_blank\" rel=\"noreferrer noopener\">20 percent<\/a><\/strong> of adults in sub-Saharan Africa paid merchants digitally in 2024, and a <strong><a href=\"https:\/\/www.ifc.org\/en\/what-we-do\/sector-expertise\/financial-institutions\/msme-finance\" target=\"_blank\" rel=\"noreferrer noopener\">$5.7 trillion<\/a><\/strong> small, medium and micro enterprises finance gap in developing countries continues to constrain small business growth.<\/p>\n\n\n\n<p>Digital-first banking, underpinned by strong payment networks and local investment, helps address both challenges by enabling faster access to funds and broader participation in the digital economy.<\/p>\n\n\n\n<p>Africa\u2019s digital banking opportunity is enormous, but realising it requires continued investment in local infrastructure, trust, talent and technology.<\/p>\n\n\n\n<p>The next wave will be seamless: instant mobile sign-up, frictionless card issuance and full account management in one app, powered by resilient technological infrastructure and connected by interoperable, real-time platforms.<\/p>\n\n\n\n<p>At Mastercard, our vision is simple: everyone, everywhere should have the access they need to thrive in the digital economy.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.mastercard.com\/za\/en\/business\/payments\/consumer-payments\/next-gen-payments\/digital-first.html\" target=\"_blank\" rel=\"noreferrer noopener\">Click here to learn how Mastercard is helping make banking a digital-first experience<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Africa\u2019s digital-first banking shift is being powered by strong local infrastructure, deep talent pools and sustained innovation.<\/p>\n","protected":false},"author":57,"featured_media":877494,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2105279260269105641","_sma_facebook_post_id":"191437357620492_2221760631977669","_sma_instagram_post_id":"","_sma_x_attempts":1,"footnotes":""},"categories":[10459],"tags":[26655,1534,26656],"class_list":["post-877493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-gabriel-swanepoel-2","tag-mastercard","tag-mastercard-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/877493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=877493"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/877493\/revisions"}],"predecessor-version":[{"id":877677,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/877493\/revisions\/877677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/877494"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=877493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=877493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=877493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}