Visa Report Shows Growing Adoption of Digital Wallets and AI in South Africa

A recent report from Visa South Africa shows that digital wallets are becoming an increasingly popular payment method among South Africans. Nearly 40% of consumers now use digital wallets, highlighting the growing comfort with technology-driven payments. Smart technology, such as biometric authentication, is widely adopted, with two-thirds of local consumers using it for purchases. Traditional payment methods, particularly physical cards, remain the most preferred and convenient, but trust in new digital solutions is steadily increasing. Many respondents (39%) indicated digital wallets are the fastest payment method, and over a third would recommend them to friends or family. For international transactions, there is a notable interest in stablecoins, with 57% of consumers open to using them for faster cross-border payments. Artificial intelligence is also playing a growing role in shopping, with 63% of South Africans having used AI to help with tasks like product research, gift ideas, or customer service. Despite the convenience, security remains a priority: 88% of respondents consider safety extremely important. Many are proactive, enabling two-factor authentication and regularly updating passwords. Overall, the report highlights that South Africans are increasingly embracing digital innovation, balancing convenience with security and trust.