Between 2013 and 2023, the number of POS transactions at terminals in South Africa showed an overall increasing trend, although there were some fluctuations, including a notable drop in 2020 due to the COVID-19 pandemic. The number of transactions rose from 1.2 Billion Units in 2013 to 1.9 Billion Units in 2023, representing a compounded annual growth rate (CAGR) of 2.85% over the last five years.
From 2023 to 2028, the number of POS transactions is forecasted to grow, albeit at a slower rate, with a forecasted CAGR of 1.93%. This forecast indicates a projected growth rate of 10.01% over the next five years, reaching 2.16 Billion Units in 2028.
Future trends to watch for:
- The impact of technological advancements in payment systems.
- Shifts towards digital and contactless payment methods post-pandemic.
- Economic factors influencing consumer spending and transaction volumes.
- Regulatory changes and their implications on the financial ecosystem.
