Card vouchers for spaza shops? ECOM Africa to feature latest e-commerce payment methods

CAPE TOWN, South Africa - Sept. 14, 2021 - PRLog -- Bringing cash into digital commerce is considered the "last mile of payments" and currently considered the biggest growth opportunity in this sector. An example of a physical voucher that can be redeemed as a debit card payment in online stores is 1ForYou, which will be launched officially in 2022 and offer card vouchers in spaza shops throughout South Africa.

"It could be a game changer," says Rahul Jain, CEO of Peach Payments, the e-commerce retail experts behind this new initiative. "Cash is still the predominant payment method in the informal economy. We are always looking out for ways to make it easier for business owners to bring their stores and services online and become formal businesses that can build credit history and give them access to a broader set of financial tools and services that then can help them scale."

Jain is part of a who's who expert line-up from the e-commerce space, including Woolworths, Massmart, Dischem and AutoTrader, who will share their exclusive insights, case studies and expertise at the upcoming ECOM Africa, a full day virtual event set to run next Tuesday, 21 Sep 2021.

The Peach Payments executive sees digital retail increasingly embedding itself into social media. Jain explains: "Watch how Facebook, Instagram and TikTok all start to make it easier and easier to buy your favourite items -- sneakers, jewellery, football kits -- directly from their platforms."

E-commerce 18% of retail sales worldwide
"COVID-19 has pushed companies over the technology tipping point, transforming business forever," says Terry Southam, the MD of ECOM Africa.

He adds: "companies have accelerated the digitisation of their customer and supply-chain interactions and of their internal operations by years. It is believed that the share of digital or digitally enabled products in their portfolios has accelerated by as much as seven years. To stay competitive in this new business and economic environment requires new strategies and practices."

In 2021, e-commerce sales are expected to account for 18.1% of retail sales worldwide. It is estimated that there will be 2.14 billion global digital buyers.

ECOM Africa sponsors include Peach Payments, VISA, Freshworks, LexisNexis, uAfrica, AWA digital, RAM, and Criteo who will have a strong presence throughout the event.

To join 1000+ attendees for a full day of in-depth keynotes, panel discussions, online networking and live Q&A sessions, register on the event website: https://ecommerce-africa.com/