Product Code: ETC011648 | Publication Date: Oct 2020 | Updated Date: Apr 2025 | Product Type: Report | |
Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The South Africa Wallet Market is projected to witness mixed growth rate patterns during 2025 to 2029. Growth accelerates to 6.10% in 2028, following an initial rate of 2.63%, before easing to 2.53% at the end of the period.
The wallet market in South Africa is evolving rapidly, influenced by the growing adoption of digital payment solutions and the shift towards a cashless economy. Digital wallets, in particular, are gaining traction due to their convenience, security features, and integration with various financial services. This trend is supported by the increasing penetration of smartphones and internet connectivity across the country.
The South African wallet market is experiencing growth due to the increasing penetration of digital payment systems and the shift towards a cashless economy. The convenience offered by digital wallets for online and offline transactions, coupled with enhanced security features, appeals to a broad user base. Additionally, the growing smartphone penetration and improved internet connectivity facilitate the adoption of digital wallets. Government initiatives to promote financial inclusion and the entry of international players offering innovative payment solutions also drive the market forward.
The wallet market in South Africa is hindered by low financial inclusion rates and limited digital infrastructure in certain regions. While mobile wallet adoption is growing, especially among urban populations, there is a disparity in access to smartphones and internet connectivity across the country. Security concerns related to digital transactions and data privacy further dampen consumer confidence in adopting mobile wallet solutions. Regulatory frameworks and interoperability between different wallet providers also need improvement to facilitate seamless transactions and encourage broader adoption among businesses and consumers alike.
Government policies on financial inclusion and digital payments have had a significant impact on the wallet market in South Africa. The South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) have established guidelines to promote the use of digital financial services, including e-wallets. Policies aimed at increasing access to banking services, reducing transaction costs, and improving cybersecurity measures are driving the adoption of digital wallets among consumers.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 South Africa Wallet Market Overview |
3.1 South Africa Country Macro Economic Indicators |
3.2 South Africa Wallet Market Revenues & Volume, 2021 & 2031F |
3.3 South Africa Wallet Market - Industry Life Cycle |
3.4 South Africa Wallet Market - Porter's Five Forces |
3.5 South Africa Wallet Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 South Africa Wallet Market Revenues & Volume Share, By Material, 2021 & 2031F |
3.7 South Africa Wallet Market Revenues & Volume Share, By Gender, 2021 & 2031F |
3.8 South Africa Wallet Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 South Africa Wallet Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 South Africa Wallet Market Trends |
6 South Africa Wallet Market, By Types |
6.1 South Africa Wallet Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 South Africa Wallet Market Revenues & Volume, By Product Type, 2021-2031F |
6.1.3 South Africa Wallet Market Revenues & Volume, By Short Wallet, 2021-2031F |
6.1.4 South Africa Wallet Market Revenues & Volume, By Long Wallet, 2021-2031F |
6.2 South Africa Wallet Market, By Material |
6.2.1 Overview and Analysis |
6.2.2 South Africa Wallet Market Revenues & Volume, By Leather, 2021-2031F |
6.2.3 South Africa Wallet Market Revenues & Volume, By Fabric, 2021-2031F |
6.3 South Africa Wallet Market, By Gender |
6.3.1 Overview and Analysis |
6.3.2 South Africa Wallet Market Revenues & Volume, By Men, 2021-2031F |
6.3.3 South Africa Wallet Market Revenues & Volume, By Women, 2021-2031F |
6.3.4 South Africa Wallet Market Revenues & Volume, By Kids, 2021-2031F |
6.4 South Africa Wallet Market, By Distribution Channel |
6.4.1 Overview and Analysis |
6.4.2 South Africa Wallet Market Revenues & Volume, By Online, 2021-2031F |
6.4.3 South Africa Wallet Market Revenues & Volume, By Offline, 2021-2031F |
7 South Africa Wallet Market Import-Export Trade Statistics |
7.1 South Africa Wallet Market Export to Major Countries |
7.2 South Africa Wallet Market Imports from Major Countries |
8 South Africa Wallet Market Key Performance Indicators |
9 South Africa Wallet Market - Opportunity Assessment |
9.1 South Africa Wallet Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 South Africa Wallet Market Opportunity Assessment, By Material, 2021 & 2031F |
9.3 South Africa Wallet Market Opportunity Assessment, By Gender, 2021 & 2031F |
9.4 South Africa Wallet Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 South Africa Wallet Market - Competitive Landscape |
10.1 South Africa Wallet Market Revenue Share, By Companies, 2024 |
10.2 South Africa Wallet Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |