CAPE TOWN – A recent study suggests cash costs South Africans around R23-billion annually.
In a world where the trend is increasingly to go cashless, with countries like India already having fully cashless villages, how does South Africa fair? A Twitter poll found that 35 percent of South Africans could picture themselves transacting purely digitally, while a further 10 percent said ‘maybe’.
The poll was conducted by Capitec as part of its #GoCashlessChallenge, an initiative to draw attention to the cost of cash.
The poll also asked people to indicate those times that cash is a necessity and going cashless is just not an option. The results show people still pay cash for a number of essentials, predominantly, transport (59 percent of respondents), food (25 percent), and services (7 percent).
Francois Viviers, Executive of Marketing and Communications at Capitec Bank says the goal of the Go Cashless campaign is to highlight how digital banking can help you save both time and money.