As South Africa entered the nation wide lockdown in March 2020, ecommerce adoption rates soared.
In our first ever Payfast Ecommerce Performance (PEP) Index, we unpack how the COVID-19 pandemic has accelerated local ecommerce adoption by as much as three to five years. The report consists of industry, payment and buyer data sourced from Payfast platforms over 2020, as well a survey conducted among our merchants that provides insight into how lockdown affected their businesses.
The Payfast Ecommerce Performance Index 2020 is based on the following
- Payment data collected from the Payfast engine from 1 September 2019 to 31 August 2020
- Buyer data collected from the Payfast engine from 1 September 2019 to 31 August 2020
- An online survey conducted with Payfast merchants in September 2020
- In-depth interviews with industry experts within the Payfast ecosystem conducted in September 2020