As the essential services provider of Cash Management solutions for South African Banks and the South African Reserve Bank, we at SBV Services place great importance in our role in supporting industry in the strategic decisioning as to the role of cash in South Africa, the cost of cash for South Africans, and the responsibilities and requirements of government, policy makers and regulators, the Banks and service providers.
In 2021, SBV partnered with top academics to objectively study how South African consumers use different payment methods, and discern their behaviours, attitudes, drivers, and intentions towards cash and digital payment tools.
We have sought to understand the impact of the availability and cost of cash, as well as the impact that a shift towards cash alternative payment methods would have, especially on the most vulnerable consumers.
Through this research, we have co-developed a segmentation model that looks across the various consumer groups in South Africa, to allow both SBV and the broader industry to have a common view of these individuals, in order to create and measure segment-relevant strategies.
We are pleased to share this groundbreaking interview-based study with all interested parties for the collective and greater good.
