- Posted by Paul Kent
- On August 16, 2021
In the latest interview by Enterprise Africa, adumo group CEO, Paul Kent shares how adumo is unlocking payment potential across the nation.
Adumo has continued to expand and re-structure around it’s firm client centric approach, as a multitude of factors align to accelerate the adoption of digital payments in South Africa. Traditionally a cash-driven society, it has registered a clear and sustained shift toward electronic payments over the recent years, with card payments expected to rise by 7.6% to reach R1.4 trillion in 2021 according to GlobalData.
The cashless preference for payments has soared in South Africa during the pandemic, with an increasing number of consumers and merchants embracing digital channels for their purchases. To further encourage the shift away from cash, banks in South Africa nearly tripled the limit for contactless card payment without the need for a PIN, from R200 to R500. Adumo’s offering has evolved to match this trend. “We now have omni-channel solutions for both the SME and medium enterprise segments,” Kent says.
Adumo is South Africa’s largest independent payment processor, and is leading the way in South Africa’s transition to digital transactions.