WASHINGTON DC, United States of America, 31 October 2022, /African Media Agency/- 14 African startups have secured a spot to pitch live on stage at the Africa Fintech Summit Cape Town, which takes place from November 2-4, at the Cape Town International Convention Centre (CTICC).

Fintech Startup Accelerator is about to reach the end of its climax of its 16-week programme that commenced in December 2022. The 16 fintech startups that were initially enrolled from the beginning of the programme, went through an intensive venture studio to hone the startups to now having 11 strong fintech startup teams. The entrepreneurs will be battling for investment for their fintech startups in the Eagles ring on the 15th of March at Sandton, Johannesburg Stock Exchange (JSE).

While cash was always considered to be king, that is no longer the case with consumers across Africa moving to alternative payment methods for convenience and safety reasons. Tap to pay has emerged as one such option. It uses short-range wireless technology to make secure payments between a contactless chip card or device and a checkout terminal.

Even with a high banked population and a multitude of electronic payment options available, the average South African still use cash for daily purchases and payments with an estimated 78-80% of transactions being in cash.