Vouchers open new doors for South African online shoppers

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Yet millions of people who prefer to use cash to pay or don’t have bank accounts remain locked out of basic online services such as buying Wi-Fi or topping up an account.

“If you don’t have a bank card, you’re invisible online,” says Wian le Roux, senior key account manager at Kazang, the fintech behind EasyPay Voucher.

“This excludes many South Africans for whom cash is the only payment instrument they can trust or easily access the digital world.”

According to the 2023 FinMark Trust report on financial inclusion, approximately 84% of South Africans have formal bank accounts, leaving more than six million individuals potentially excluded.

Even among those with bank accounts and credit cards, many still prefer to use cash for payments. According to the South African Reserve Bank, cash accounts for 56% of all payments.

“A significant part of the population is at risk of being left behind as commerce moves rapidly into digital channels,” says le Roux.

“While policymakers and financial institutions have long viewed bank accounts as the gateway to financial inclusion, the reality is that many South Africans operate in a cash-first world.

“If the only way to go online is with a bank card, these communities will be excluded. That’s why fintech innovations such as generic vouchers for online use are so necessary. These solutions enable users to turn physical cash into digital vouchers they can use for a wide range of online services and transactions.”

Bridging the gap between digital and cash

Le Roux says that the financial services ecosystem often prioritises getting people to open bank accounts, download apps, or use their cards more often in the drive away from cash. Vouchers offer one way to bridge the gap for users who want to participate in the digital economy, yet trust cash more than banks.

“The rollout of low-cost banking accounts as well as SASSA grants and the associated cards has dramatically improved financial inclusion over the past 20 years,” says le Roux. “Yet there are many people who do have bank cards but still prefer using cash-based digital options.

“That’s because traditional banking systems don’t always match how people live, work, and get paid. Many South Africans earn casual wages in cash, but don’t have easy access to a bank or ATM where they can deposit their cash. Depositing their cash can mean long queues or charges that eat into already small earnings.”

Vouchers are an attractive alternative because they don’t require personal information, credit checks, paperwork or deposit fees. They can be bought at local spaza shops, tuck shops, or petrol stations. Users can turn their cash into vouchers to reduce the security risks of carrying cash without needing to find an ATM or bank.

Kazang has just announced that customers can now use EasyPay Voucher to top up their Hollywoodbets accounts, joining a growing list of digital service providers. “Partnerships like this are about enabling everyday transactions without needing a bank account and making digital payments easier for more South Africans,” says le Roux.

“Whether you're placing a bet, topping up Wi-Fi, or calling loved ones, a voucher puts digital access within easy reach. By turning cash into usable digital vouchers like these provide a low-friction, high-trust way to step into the online world on your terms.”