After unpacking payments modernisation over the past two episodes - from infrastructure to fintech innovation - this conversation turns to the real test: adoption. How do these changes translate into everyday economic activity for millions of South Africans?

Hema Morar, Executive Head of FNB eWallet, shares how the platform is evolving to meet the realities of informal income, using AI, alternative data, and accessible channels like WhatsApp to drive meaningful financial inclusion.

Following last week’s conversation on the infrastructure behind South Africa’s payments modernisation, this episode shifts to the merchant frontlines as Michael Avery sat down with Rachel Cowan, Interim CEO of Ozow.

The discussion unpacked the growing shift toward real-time account-to-account payments and the importance of interoperability across the ecosystem. Rachel shared how evolving payment rails, including PayShap, are reshaping the checkout experience for South African businesses - and how these changes can improve cash flow, support financial inclusion, and unlock new opportunities in digital commerce.

Through the Payments Ecosystem Modernisation Programme (PEM), South Africa is moving away from legacy infrastructure toward faster, more open payment rails. Michael Avery spoke with Marin Cundall, Managing Executive: Identity, Customer, and Payments GoTyme Bank, to unpack what this shift means for banks, fintechs, and the broader economy.

From instant payments and interoperability to the role of digital identity and regulatory reform, the conversation explored how modernising the “arteries” of the financial system could reshape how money moves in SA.