Payfast Report: Monday is the Most Popular Day for Online Shopping

Monday has emerged as the most popular day for online shopping, while November stands out as the most popular month, driven by Black Friday sales and preparations for the festive season. According to the report, 71% of surveyed merchants expressed optimism about the upcoming festive period, which is also the busiest time of year for retail.

The Network International 2024 Payfast State of Pay Report, now available for download at payfast.io, provides a comprehensive overview of South Africa’s payment landscape and evolving trends. This fourth annual report features insights from leading organizations like Absa and KFC, combined with extensive merchant and consumer survey data. Among its key findings is the rise of Unified Commerce, an industry-shaping trend poised to enhance both customer convenience and merchant efficiency.

“Unified Commerce isn’t a new concept – but for the first time, we have the technology and infrastructure to implement it in a meaningful way,” explains David Adams, Managing Director at Payfast by Network. “It elevates omnichannel commerce, allowing customers to interact with a business across multiple touchpoints for a seamless experience. For this year’s State of Pay, we explored how far South African merchants have progressed in adopting this transformative strategy.”

What is Unified Commerce?

Unified Commerce is a strategy that integrates all store sales channels and activities into a single system, empowering merchants to deliver a seamless shopping experience. To gauge merchant sentiment and implementation progress, Network International surveyed its Payfast ecommerce merchants. A centralized omnichannel point-of-sale (POS) system emerged as the most widely adopted Unified Commerce solution, with 41% of merchants utilizing such systems to enhance payment processes and customer experiences. Among these merchants, over 40% reported increased customer spending.

Mpho Sadiki, Group Managing Director of Merchant Solutions (Africa) at Network International, highlights the importance of this approach:
“The launch of our Network POS offering unifies digital and in-person payment systems onto a single platform, enabling merchants to accept payments seamlessly across channels while leveraging value-added services to grow revenue. This allows businesses to focus on what truly matters—scaling and growth. Unified Commerce is a game-changer in this regard.”

The Rise of Marketplaces in South Africa

The report also delves into the growing prominence of online marketplaces and their role in shaping local ecommerce success. Over 70% of surveyed merchants view marketplaces as a key opportunity to reach more customers, foster innovation, and drive growth. The top three platforms for South African merchants are Takealot, Amazon (South Africa), and Makro Marketplace, with Takealot leading as the preferred option for selling products.

Digital Payment Trends

The State of Pay report further explores trends in online payments, with data sourced from Payfast by Network platforms over the past year. It highlights the growing adoption of mobile wallets and open banking solutions like Apple Pay, Samsung Pay, and Capitec Pay. These technologies demonstrate increasing consumer familiarity, trust, and comfort with digital payment solutions.

By addressing key trends and strategies such as Unified Commerce and marketplace adoption, the 2024 State of Pay report underscores the evolution of South Africa’s digital commerce landscape and offers valuable insights for businesses navigating this dynamic environment.