Approximately 75% of the South African adult population aged 16+, is considered “banked”. This includes around 10 million adults who receive social grants (SASSAA), of which 8.2 million (82%) receive less than R3000.00 per month according to FinMark Trust.
Not surprisingly, this leaves a huge gap in the market for the formal banking sector to grow their businesses with potential entry level banking customers.
A worrying statistic for South African consumers:
The Payments Association of SA (PASA) announced that there are more than 100 telemarketing companies who have been blacklisted for debiting consumers for services for which they either did not provide or for which consumers did not sign up for.
According to PASA CEO Walter Volker, many of these companies are guilty of fraudulent transactions where banking details of individuals are obtained illegally.
PASA claims that efforts are under way to “weed out the rotten apples” in the industry. A shocking 120 000+ of the 31 million payment orders processed monthly had been disputed by consumers.
Continue reading More than 100 telemarketing companies blacklisted for debiting consumers illegally
As a result of the recent Post Office strike action, many businesses across South Africa have been left in a rather awkward situation where their billing is concerned.
The major problem businesses are facing is that invoices and statements have not yet been delivered to clients who receive theirs via post and the result has been a major delay with payments.
There may be various ways and means around retrieving your balance as a “postal” customer, but who wants to be inconvenienced that way? As the saying goes: “Ain’t nobody got time for that”.
Continue reading 4 key benefits of integrating cloud-based billing vs. traditional methods
