PnP surfs SA's online shopping wave
27 July 2012
South African retailer Pick n Pay has partnered with online payment service provider PayU to launch its new online store as a way of making shopping more convenient for its customers.
"The partnership with PayU contributes to giving our customers a wider range of payment options for their online shopping," head of online shopping at Pick n Pay, Mike Cotterell, said in a statement last week.
The payment method is available in all South African regions and is a convenient, fast and safe way to pay for purchases made on the online store.
'Shopping online faster and more convenient'
"As a payment method, PayU enables secure transactions online. With the increase in registered PayU users, it is evident that the South African public is recognising that we are making their online shopping experience much faster and convenient," said PayU's chief executive officer, Mark Chirnside.
"To use PayU, a consumer merely needs to link his or her various cards - and simply look out for the PayU logo when paying online."
PayU allows the customer to store multiple credit card details for future purchases and speed through check-out. It is free to use with no sign up, monthly or transaction fees.
Internet economy key component of economy
According to the latest internet economic impact study conducted by South African technology market research company World Wide Worx, e-commerce is growing at a rate of around 30% a year in the country.
The study also showed that the total spent on online retail goods in South Africa passed the R2-billion mark for the first time in 2010, growing by 30% to reach R2.028-billion. This growth rate was maintained in 2011, with a further 30% increase, to R2.636-billion.
At an average growth of around 8% a year, the internet economy can be expected to reach R79-billion by 2015, contributing close to 2.4% of South Africa's gross domestic product (GDP).
"Our aim with the various PayU products such as the PayU wallet is to enhance and guarantee payment security while providing a more convenient, hassle-free online shopping experience for our users," Chirnside said.
"This consumer confidence will play an integral role in the current rise of the internet economy, which has proven to be a key component of the South African economy."