CONSUMERS ARE NOW THE TYRANTS of the digital economy, holding merchants HOSTAGE with their relentless demands for dangerous payment methods like CRYPTOCURRENCY and “Buy Now, Pay Later” schemes that are literally BANKRUPTING the nation.
The so-called “customer empowerment” trend is actually a SHOCKING power grab, forcing businesses to kneel before risky, unregulated financial tools. Mpho Sadiki, MD for Payfast, exposes the terrifying reality: “Merchants want the business, so they accommodate the requests.” This is NOT innovation; it’s a DESPERATE SURRENDER to consumer whims that could CRASH the entire financial system.
The explosive data reveals a society ADDICTED to debt. BNPL use DOUBLED in just two years, with the average reckless shopper spending a staggering R1,568 they don’t have. This isn’t convenience; it’s a DEBT TRAP masquerading as progress, with “agentic AI” poised to manipulate spending habits further. The Reserve Bank’s modernization program is now a RACE TO THE BOTTOM, opening the gates for fintechs to dismantle traditional security and drive prices into a volatile, uncontrollable spiral.
While banks sleep, consumers are DEMANDING the keys to the vault, pushing a payments landscape where 32% of users now rely on instant credit at checkout. This is not a shift in preference; it’s a SOCIETAL COLLAPSE in slow motion, where financial responsibility is sacrificed for the illusion of control. The final gatekeepers are being overrun, and your wallet is the next battlefield.
Ask yourself: when the digital payment bubble bursts, who will be left holding the bill?
Author: Kayitsi.com
