{"id":5030,"date":"2019-09-02T09:51:44","date_gmt":"2019-09-02T06:51:44","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=5030"},"modified":"2026-01-11T05:30:31","modified_gmt":"2026-01-11T05:30:31","slug":"digital-finance-key-growth-driver-but-risks-abound","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/09\/02\/digital-finance-key-growth-driver-but-risks-abound\/","title":{"rendered":"Digital Finance Key Growth Driver But Risks Abound"},"content":{"rendered":"\n<p><strong>By Nancy Matimu<\/strong><\/p>\n\n\n\n<p>A\nbright new world of opportunity is dawning for consumers and businesses across\nAfrica as digital payment innovation and online commerce bring inclusion and\neconomic growth across the continent. But certain hurdles remain in the way of\nthe ideal of borderless, cashless, seamless and inclusive digital payment\necosystems: safety and security concerns and the question of trust remain key\nin delivering new digital payment environments.<\/p>\n\n\n\n<p>Consumers\nare often hesitant about digital transaction safety. For those new to the\ndigital environment and not well versed in the risks of phishing, vishing and SIM\nswap fraud, the entire digital environment could appear to be fraught with\nrisk. In South Africa alone, the South African Banking Risk Information Centre\n(SABRIC) reported recently that incidents of digital banking crime grew by 75\npercent to 23 466 between 2017 and 2018.<\/p>\n\n\n\n<p>Fraud\nrisks are exacerbated by the fact that the existing system is set up so that\nidentifiable credentials\u2014like credit card numbers\u2014can often pass through\nsystems in a way that readily steal-able and vast amounts of user data is\nstored in integrated databases, so that when one location gets hacked, identity\ndata and details are then exposed en masse.<\/p>\n\n\n\n<p>New\ndigital financial services present an opportunity to drive financial inclusion\nand prosperity, bringing new levels of convenience and more cost effective\ntransactions to millions\u2026<a href=\"https:\/\/www.businessdailyafrica.com\/lifestyle\/pfinance\/Digital-finance-key-growth-driver-but-risks-abound\/4258410-5256726-g798a9\/index.html\">Read\nmore&gt;&gt;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Nancy Matimu A bright new world of opportunity is dawning for consumers and businesses across Africa as digital payment innovation and online commerce bring inclusion and economic growth across&hellip;<\/p>\n","protected":false},"author":3,"featured_media":5031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-5030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=5030"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/5031"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=5030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=5030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=5030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}