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Synthesis Software Technologies, in partnership with Mambu and Amazon Web Services, hosted the Payments Round Table 2.0 at the Twelve Apostles Hotel in Cape Town this month. The event brought together key decision-makers from FinTech, retail, insurance, and banking sectors to discuss the future of payment modernisation in South Africa.

Synthesis Software Technologies hosted the Payments Round Table 2.0 in Cape Town.

Although South Africa has made advances towards moving with innovation and technology, the economy still relies heavily on cash. The concept of cash has always been tangible. It is held, transferred, and weighed, but how many people carry around cash these days?

Synthesis Software Technologies, in partnership with Mambu and Amazon Web Services, AWS, hosted the Payments Round Table 2.0 at the Twelve Apostles Hotel in Cape Town. The event brought together key decision-makers from FinTech, retail, insurance, and banking sectors to discuss the future of payment modernisation in South Africa.

Moderated by Howard Feldman, the round table aimed to address the challenges and opportunities presented by payment technology and innovation in a cash-based

Using a digital currency provides advantages to retailers; therefore, value propositions need to be established.

economy. Despite the availability of digital payment methods, many low-income consumers continue to rely on cash, necessitating solutions that cater to the needs of the economy.

The South African Reserve Bank, SARB has invested approximately six billion Rand in payment technologies for the public good to drive collaboration and healthy competition across key economic players. The new National Payment System, NPS bill, linked to SARB’ s Vision 2030, supports creation a world-class national payment utility that meets both domestic and international requirements.

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