Alternate Systems of Payment
Alastair Campbell
Broschiertes Buch

Alternate Systems of Payment

The Acceptance of Prepaid Salary Cards in the South African Fuel Retail Industry

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According to FinScope (2008), 37.3% of the South African population is currently unbanked this amounts to approximately 12 million people who do not have a bank account in their name. Salaries and wages are paid by cash or cheque, resulting in losses to the country s Gross Domestic Product (GDP) through cash payment systems, grey economies, increased friction, and higher transactional costs, whilst creating opportunities for criminals. Financial Intelligence Centre Act (FICA) regulations, including Exemption 17, have made it difficult for the Living Standards Measure (LSM) 1-5 socio-economic g...