Cape Talk

With us, how practically we can be using it every day in our day-to-day? Sure. So, I mean, practically, if you look just at informal traders in South Africa, I think eight and ten have no bank account at all. And so, there's a huge amount of friction. The reason they're largely dealing in cash is because it's just everywhere all at once and we can use it. So, the practical examples are informal traders. I've been working now for seven years together with the taxi industry to come up with a cashless solution for taxis.

And the problem with all these cash solutions generally is there's a cost attached. So you'll see many of these small businesses do now have card machines, but it's quite expensive, you know, up to 3% of your turnover is a heavy cost to pay. So the products that we're able to launch with these new digital wallets are where the cost is zero. So if you're competing with cash, you can't start charging fees for a similar service. And that's really what unlocks these opportunities. So for the service provider, what do they get out of

The deal, other than I'm assuming, then the foot traffic. Yes, obviously, it's foot traffic, but what it does do is give them the ability to deal with someone without having them to be directly in front of them. And so you can now digitally start trading. You can pay for things without having to actually physically go there. You can think of the Gogo going to withdraw cash. She can now go up to her nearest taxis and do a transaction there to get cash in her hands. Or hopefully, she's tech savvy and she just stays.