The South African Reserve Bank has said that the lack of affordable mobile Internet access is a major limiting factor to creating a cashless society.
If only two-thirds of the country can access the Internet, this is a major limiting factor to fully implementing digital payments in the future. Icasa points to cost, lack of skills, and lack of relevant content as reasons why South Africans covered by a 2G,3G, or 4G signal still don’t have access. “In some instances, free banking apps are not necessarily free as updates to the latest security features or functionalities require regular updates, and data/Wi-Fi availability is not always affordable,” the Reserve Bank says.
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