Vouchers: A Gateway to the Unbanked Market

Have you ever considered the immense impact that immigrant communities have on South Africa's economy? Despite their vital contributions, they are often overlooked when it comes to online payments, as many do not have access to traditional bank accounts. Fortunately, vouchers offer an innovative and inclusive solution.

"15.9% of South Africans are unbanked" - World Bank

In recent years, South African businesses have adopted vouchers as a powerful tool to engage with immigrant populations and cater to their needs. Beyond facilitating transactions, vouchers provide numerous benefits, such as increased customer engagement, brand loyalty, and market penetration. Let's explore these advantages and discover why businesses should embrace vouchers in this dynamic market landscape.

Inclusivity and Accessibility:

Incorporating voucher acceptance is a powerful means by which businesses can exhibit their dedication to inclusiveness and accessibility. This approach nurtures a sense of trust and devotion within immigrant communities that frequently encounter obstacles when attempting to shop with online retailers. Afri-Sync's diverse range of voucher options empowers your website visitors to acquire vouchers from a multitude of retailers situated throughout South Africa, featuring highly accessible brands such as Pep, Checkers, Shoprite, and Russell furniture stores. We have solutions that would allow your site visitors to purchase vouchers at up to 53 different brands of retailers; contact us for the full list.

Expansion of Customer Base:

In 2020, the immigrant population in South Africa was estimated to be around 2.9 million, accounting for approximately 4.8% of the total population. By providing vouchers, businesses can tap into these demographics and significantly expand their customer base. Accepting voucher payments can establish a brand as a preferred choice among these communities, as they are often restricted in their payment options. In fact, even a single voucher purchase can make a business the go-to brand for these communities.

Repeat business and brand loyalty.

The immigrant community residing in South Africa confronts ongoing challenges and limitations, which considerably influence their daily lives. Consequently, they exhibit a discerning approach in their purchasing behavior and exhibit unwavering loyalty towards businesses and products that cater to their needs. Their loyalty stems from the convenience of avoiding the effort and time required to find alternative solutions. This makes them the perfect customers for businesses that offer dependable and consistent services, as they are inclined to maintain their loyalty over an extended period.

To sum up, incorporating vouchers into a business strategy can be a game-changer for those striving to succeed in South Africa's diverse market. Vouchers offer more than just a way to conduct transactions; they enable businesses to establish stronger relationships with customers, expand their target audience, and contribute to a more equitable economy. Adopting this cutting-edge payment solution can open doors to fresh possibilities and facilitate long-term prosperity, while also benefiting immigrant communities.