Major non-bank financial ecosystem players launch new association
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GUEST – Lincoln Mali - Chief Executive Officer: Lesaka Technologies and President of ASAPP
In a country with a large underbanked community and millions of businesses still reliant on cash-only transactions, the launch of a groundbreaking association promises to contribute to an inclusive financial sector for all and progress the digitisation of payments in South Africa. The Association of South African Payment Providers, known as ASAPP, was officially launched today by eight of the largest non-bank digital payment providers in South Africa.
ASAPP's primary objectives are to promote fair access to payment infrastructure, reduce the wholesale cost of digital payments, and enhance transparency and customer mobility within South Africa's payment ecosystem for both individuals and businesses. ASAPP aims to create more opportunities for financial inclusion by advocating for increased support for and participation of non-bank payment providers in the payment ecosystem.
In a country with a large underbanked community and millions of businesses still reliant on cash-only transactions, the launch of a groundbreaking association promises to contribute to an inclusive financial sector for all and progress the digitisation of payments in South Africa. The Association of South African Payment Providers, known as ASAPP, was officially launched today by eight of the largest non-bank digital payment providers in South Africa.
ASAPP's primary objectives are to promote fair access to payment infrastructure, reduce the wholesale cost of digital payments, and enhance transparency and customer mobility within South Africa's payment ecosystem for both individuals and businesses. ASAPP aims to create more opportunities for financial inclusion by advocating for increased support for and participation of non-bank payment providers in the payment ecosystem.