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Although the World Bank classifies South Africa as an upper-middle-income economy, still 40 percent of adults remain unbanked and a common distrust in credit cards remains to linger. Johan Meyer, CEO of Cape Town-based Wallettec told Disrupt Africa in an interview that although credit cards have been around for about 40 years, people never gained full trust in this payment option. People expect a safe and convenient payment experience, added Meyer.
This provides an ideal terrain for direct carrier billing, a payment option which is simple, hassle-free and quick, catering to the needs of consumers, maybe less tech-savvy, looking for the simplest payment option to which they have access to.
However, the market, with over 87.6 million SIM cards, 85 percent prepaid subscribers and a mobile penetration of a whopping 150 percent, holds an array of different target groups, including those so important digital natives, in stake for merchants.
Long subscriber lifetime values and a large array of possible industry verticals
There is a vast bundle of verticals that our partners are able offer, ranging from online media, mobile entertainment, gaming, m-commerce, social networks, e-publishing to even physical goods. According to local operators, 10 percent of the market traffic has been generated by VoD, 20 percent by chat services, 20 percent by competitions and 50 percent by adult content in the past, with new verticals gaining more and more significance.
Interesting facts for merchants:
The country has eleven official languages, Afrikaans serves as the first language of most South Africans. English is commonly used in public and commercial life, though it is fourth-ranked as a spoken first language. Important to know when providing the right content for this market!
Did you know that robots control traffic lights in South Africa?
Did you actually think robots are controlling the flow of traffic on South African roads? Of course not, traffic lights are locally called robots. We at DIMOCO of course know this fineness, as we do when it comes to direct carrier billing market expertise, backed by our connectivity to the major mobile network operators Vodacom, MTN and Cell C.
You might not be interested in the traffic flow on the roads but surely in increasing your payment flow!It is always necessary to have reliable partner, who knows the ropes in a market. We are your reliable fundi (Afrikaans for expert. See, we told you needed one!) for your direct carrier billing.