Personal Finance Tips

Top payment methods in South Africa: A guide on best ways to pay

Nicholas Chia

25.08.25

Read time 2 minutes

Wondering what the most popular ways to pay are in South Africa? Explore the top payment options and choose wisely.

South Africa, with a population of around 64.15 million people, has a GDP of approximately 410.34 billion, making it the 39th largest economy in the world. The official currency of South Africa is the South African Rand (ZAR).

The most industrialized economy in Africa, it is driven by mining (platinum, gold), financial services, and manufacturing. It is a member of the G20 and BRICS, and is the anchor of the Southern African Customs Union (SACU).


Country	South Africa
Population	64.15 million
GDP (USD)	410.34 billion
Global Ranking	39th
Currency	South African Rand (ZAR)

What is the main payment method in South Africa?

In South Africa's formal economy, the most common non-cash payment method is the debit or credit card.¹ For online payments, Electronic Funds Transfer (EFT), where customers transfer money directly from their bank account, is a very popular method.² Physical cash, the Rand, remains critical for the country's large informal sector, public transport, and for many consumers' daily needs.³

How to pay in South Africa

Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in South Africa.

Payment method	Description	Type
Wise	Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the real mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies.	Online/in-person
Cards (Debit/Credit)	Cards are a primary payment method for the formal economy. Both debit and credit cards are widely used for retail and online purchases.¹	Online/in-person
Bank Transfers (EFT)	Electronic Funds Transfers (EFT) are a very common method for paying bills and for e-commerce, with many online stores offering it as a primary checkout option.²	Online
Cash (South African Rand)	Cash is a very important and essential payment method, particularly for the large unbanked population and in the informal sector.³	In-person
Digital Wallets & Apps	Digital wallets and banking apps that facilitate instant P2P payments and QR code scanning are popular.⁴	Online/in-person

Is PayPal available in South Africa?

Yes, PayPal is accepted in South Africa.⁵

Cover all your international travel expenses with the Wise Multi-Currency Card

Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.

You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.

And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.

Get started with Wise

*Wise is not a bank. The Wise Multi-Currency Card is issued by our sponsor Bank(s), member(s) FDIC. Fees and T&C apply. See https://growth-layer.live/%3C/a%3E for details.

Sources:

Payments Association of South Africa - Payment Systems

Payfast - Instant EFT

South African Reserve Bank - South African currency

SnapScan - For Business

PayPal South Africa

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.