South African fintech company InstaPay has launched a new digital wallet, InstaPay Gini, aimed at underbanked and unbanked South Africans.
InstaPay Gini operates as an open-loop wallet, designed to be used across a broad network of merchants rather than being tied to a single provider. The company says the platform is suitable for individuals, families, stokvels, freelancers and retirees, and has signed up more than 600 000 users.
InstaPay is a joint venture between Omnea, a fintech platform in Africa, and Amber Pay, a global payments software provider. Deon Tromp, CEO of Omnea, said the wallet was designed to combine accessibility with financial inclusion.
“InstaPay Gini isn’t here to replace banks – it’s here to complement them,” added Ekaterina Savadia, CEO of Amber Pay.
The launch comes against the backdrop of a steady rise in digital wallet adoption in South Africa. According to Visa’s SpendTrend25 report, compiled with Discovery Bank, more South Africans aim to use digital wallets.
“This shift is especially strong in Johannesburg and Cape Town, where digital payments are becoming the norm. The Visa Stay Secure Study 2025 reports that 68% of South Africans plan to use digital payments even more in the next year,” explained the report.
In 2024, Lineshree Moodley, country manager at Visa SA, noted the adoption of wallets like Apple Pay and Samsung Pay had accelerated the digital wallet trend.
“In the case of digital wallets, we see that they are growing exceptionally fast and believe they will become more prominent as time goes on,” said Moodley.
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