ITWeb, in partnership with ACI Worldwide, is conducting a survey to explore the rapid evolution of digital payments across Africa. The research examines the opportunities this creates for financial institutions, the growing impact of fraud and financial crime, and why these factors are together accelerating payments modernisation as a strategic business priority.

The survey is aimed at banks, fintechs, payment intermediaries and financial services organisations across the continent. Its goal is to better understand the opportunities and challenges associated with digital and instant payments.

Ashleigh Naidoo, director of sales for Africa at ACI Worldwide, says Africa is at an exciting inflection point in its payments journey. “Digital instant payments are unlocking new opportunities for financial inclusion, commerce and economic growth across the continent. At the same time, we’re seeing an increase in fraud and financial crime that organisations must address proactively. Understanding both dimensions – the opportunity and the risk – is what this survey is designed to explore as the region moves towards increasingly cashless societies.”

The future of payments in Africa

The survey takes a structured look at several key areas shaping the future of payments in Africa. These include the factors driving growth in digital payments, the business opportunities created by instant payments, the urgency of modernisation strategies and the evolution of fraud patterns as transaction volumes increase.

It also examines the competitive advantages that modern payment infrastructure delivers, how organisations balance the demand for real-time payments with the need for robust fraud controls, and the role that data quality and standards play in improving customer experience and strengthening fraud-prevention outcomes.

In addition, the survey explores the modernisation investments that are enabling new revenue streams and improved customer experiences, the fraud detection and prevention capabilities currently being deployed by financial institutions, and the modernisation priorities expected to attract investment over the next few years.

“Legacy infrastructure is limiting many institutions’ ability to compete at speed and scale," Naidoo says. "Payments modernisation has evolved beyond a technology upgrade to become a critical driver of strategic growth. The survey questions are designed to surface how financial institutions and intermediaries in Africa are seizing the opportunities created by faster payments, responding to increasing fraud threats and meeting evolving customer expectations.”

Share your insights

If you work in a bank, fintech, payment intermediary or financial services organisation and are involved in digital payments, you are encouraged to take part in this survey.

Your input will help compile a unique trends report on the state of digital payments in Africa, which will be published on ITWeb. Respondents will also stand a chance to win a Takealot or Amazon voucher valued at R3 000.

Complete the survey here.

Digital payments

Digital payments in Africa survey goes live