The importance of trust in influencing the use of digital payments is the focus of this edition of Business Day Spotlight.
Host Mudiwa Gavaza is joined by Charles Lobo, senior vice-president and regional risk officer for Visa Central Europe Middle East and Africa (CEMEA).
Join the discussion:
Fraud exposure in SA
Lobo says fraud exposure remains high in SA, saying more than half, 52%, of consumers have fallen victim to scams. SA sits at 59%, while Kenya is at 71%.
This is according Visa’s recent Stay Secure 2025 study, covering 5,800 consumers across CEMEA, showing both the risks and the progress being made around digital payments.
Lobo explains an apparent contradiction in how people relate to scams.
In its report, the payments company noted that while 97% of people say they feel knowledgeable about fraud, many still get caught, especially younger users. 89% of Gen Z admit they’re likely to click on suspicious messages.
Why trust matters in digital payments
He call this phenomenon costly confidence. Lobo also highlights the importance of trust in influencing digital payments adoption.
According to the data, 76% of consumers still trust digital payments, but 66% say one bad experience would reduce that trust.
Through the discussion, the payments executive outlines the findings of a recent Visa security report; trends and insights; and keeping payments secure in a world of artificial intelligence (AI).
Lobo says fraudsters are gaining ground such as through targeting transactions to targeting identities using new tools like AI and deepfakes to exploit gaps in the payments system.
At the same time, SA is one of the most digital markets on the continent, which brings exciting opportunities but also attracts cybercrime.
• Business Day Spotlight is an Arena Podcasts Production.
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