Bringing cash into digital commerce is considered the “last mile of payments” and currently considered the biggest growth opportunity in this sector. An example of a physical voucher that can be redeemed as a debit card payment in online stores is 1ForYou, which will be launched officially in 2022 and offer card vouchers in spaza shops throughout South Africa.
“It could be a game-changer,” says Rahul Jain, CEO of Peach Payments, the e-commerce retail experts behind this new initiative. “Cash is still the predominant payment method in the informal economy. We are always looking out for ways to make it easier for business owners to bring their stores and services online and become formal businesses that can build credit history and give them access to a broader set of financial tools and services that then can help them scale.”
Jain is part of a who’s-who expert line-up from the e-commerce space, including Woolworths, Massmart, Dischem and AutoTrader, who will share their exclusive insights, case studies and expertise at the upcoming ECOM Africa, a full-day virtual event set to run next Tuesday, 21 September 2021.
The Peach Payments executive sees digital retail increasingly embedding itself into social media. Jain explains: “Watch how Facebook, Instagram and TikTok all start to make it easier and easier to buy your favourite items - sneakers, jewellery, football kits - directly from their platforms. Also, several companies are working on building a 'super app' with all the features of a mall and a bank together. Look for this to finally build some traction in the coming years.”
“Covid-19 has pushed companies over the technology tipping point, transforming business forever,” says Terry Southam, the MD of ECOM Africa.
He adds: “Companies have accelerated the digitisation of their customer and supply-chain interactions and of their internal operations by years. It is believed that the share of digital or digitally enabled products in their portfolios has accelerated by as much as seven years. To stay competitive in this new business and economic environment requires new strategies and practices.”
In 2021, e-commerce sales are expected to account for 18.1% of retail sales worldwide. It is estimated that there will be 2.14 billion global digital buyers. In retrospect of the Covid-19 pandemic and the rapid acceleration in digital transformation, the ECOM Africa speakers will deconstruct the strategies they have been successful with and how they are preparing for the next wave in e-commerce.
The speaker line-up includes:
The conference will unpack key topics within the e-commerce space, speaking directly to business operations, store design and optimisation, fulfilment and logistics, payments and security, and marketing and brand building. Attendees can expect to hear case studies on:
Sponsors include Peach Payments, VISA, Freshworks, LexisNexis, uAfrica, AWA digital, RAM, and Criteo who will have a strong presence throughout the event. They will share their experiences with the audiences and will be able to interact digitally with them. The digital platform allows them capabilities to connect with potential customers through virtual exhibition booths, virtual networking, contact swops and educational keynotes and panel discussions.
Next week’s ECOM Africa will be the seventh edition of this flagship, specialist gathering in the e-commerce, retail, and fintech sector.
To join 1,000+ attendees for a full day of in-depth keynotes, panel discussions, online networking and live Q&A sessions, register here.
- Live virtual event: 21 September 2021
Adam Fletcher, Chief Marketing Officer, ECOM Africa
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