Finance

The South African Reserve Bank’s payments modernization program aims to dramatically reduce the nation’s heavy reliance on cash, which currently underpins 62% of daily transactions, by driving low-cost, secure digital payment options. A key practical initiative is the creation of a cash-management company to introduce universal ATMs, which would significantly improve cash accessibility and reduce costs for consumers. This dual strategy seeks to enhance financial inclusion and economic growth by modernizing the digital ecosystem while simultaneously overhauling the legacy cash infrastructure to serve thoseContinue Reading