The fierce fintech race for financial loyalty in South Africa goes beyond payments

South Africa’s fintechs are competing to own the platforms through which consumers receive, move and spend money. The prize is an enduring place in consumers’ financial lives.

Digital banks, mobile operators, and remittance companies are converging on the same opportunity: making everyday transactions so convenient that customers keep returning, creating opportunities to earn revenue, collect transaction data, and sell additional services.

The next fintech battle will be won not by whoever opens the most accounts, but by whoever becomes indispensable…