Johannesburg, South Africa May 5, 2026: Accion and the Mastercard Center for Inclusive Growth (the Center) are undertaking a pilot study with SAPay that aims to identify and test key approaches and value-added services that accelerate the adoption of digital financial services by minibus drivers and other actors, and assess the impacts on their financial health. Accion and the Center will work with SAPay to identify barriers to the adoption of digital payment acceptance tools and draw insights on commercially sustainable mechanisms for driving digital inclusion in the mobility space.
South Africa has the largest[1] and one of the most diversified economies on the African continent. Despite this, there are still key areas and sectors where cash is king – particularly in urban areas and townships that are home to an estimated 20 million people and represent billions of rand in purchasing power[2].
One such area where cash dominates is minibus taxis and the adjacent ecosystem. These taxis form the backbone of the country’s mobility sector and transport commuters from township to urban areas each day. Despite their critical role in the local economy, they operate in an industry that remains largely informal and fragmented, and which suffers challenges related to reliability, passenger safety, and the exclusion from critical financial services.
SAPay is a technology company that connects South African minibus drivers, owners, and riders to the digital and formal economy. SAPay’s payment infrastructure includes route planning and same-day settlements to drivers. The pilot plans to include value-added services such as gas payments using the SAPay card (reducing the need for cash), life insurance (rider and driver), and financial literacy training.
Raliat Sunmonu, Vice President, Middle East and Africa at Accion said: “Minibus drivers, owners and many other actors in the adjacent economy have long been left behind, unable to benefit from South Africa’s thriving financial services system due to reasons including a lack of capacity, a deep mistrust of formal financial institutions, and the mostly-informal nature of their economic activities. These dynamics leave many individuals underserved, including the micro businesses that communities depend on for basic amenities such as transport. Through this collaboration with Accion and Mastercard, and leveraging the SAPay platform and its ecosystem, we will share learnings focused on opportunities to provide products and services that enhance resilience through commercially sustainable models.”
“The minibus taxi industry is the lifeblood of South Africa’s urban economy, yet its drivers and operators have remained invisible to the formal financial system for too long,” said Vish Chetty, General Manager at SAPay. “This pilot with Accion and the Mastercard Center for Inclusive Growth allows us to move beyond payments and deliver real financial tools – insurance, savings, credit pathways – directly to the people who need them most. We built SAPay to close this gap, and we are proud to be doing it with partners who share that ambition.”
As Gabriel Swanepoel, Division President, Africa for Mastercard, commented: “Digitizing everyday transactions is one of the most powerful drivers of financial inclusion and health. The minibus taxi industry moves the majority of South Africa’s workforce, yet it remains one of the most cash‑dependent parts of our economy. When this sector digitises, the impact goes far beyond faster payments, it opens the door to meaningful financial inclusion for drivers and commuters. By connecting taxi operators to the digital economy via SAPay’s fare collection platform, we create safer ways to pay, better ways to plan, and new pathways for people to participate in South Africa’s growing digital future.”
“Financial inclusion and health are a business imperative. By bringing our respective capabilities and strengths together, we are reducing risk, improving transparency, and unlocking new value-added services that support sustainable and inclusive economic growth. This pilot with Accion and SAPay reflects our shared focus on building solutions that are innovative, commercially viable, and scalable, creating a virtuous cycle of financial inclusion and health for the mobility sector,” said Subhashini Chandran, Senior Vice President, Asia Pacific, Europe, Middle East and Africa, Mastercard Center for Inclusive Growth.
This initiative marks the next steps in Accion’s 8-year partnership with the Mastercard Center for Inclusive Growth that supports the transformation of financial service providers, digital platforms, and fintech companies. The long-standing partnership aims to help 23 million people across 25 countries benefit from the digital economy across a variety of programs.
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About SAPay
SAPay is a South African fintech company transforming the country’s minibus taxi industry by digitizing fare collection. Working in partnership with the taxi industry, SAPay replaces cash-based transactions with secure, cashless payment solutions that work through cards and a mobile app, enabling passengers to tap or scan to pay. The platform delivers same-day settlements and real-time payment tracking to drivers and owners, reducing theft, eliminating fare disputes, and improving operational efficiency. Beyond transport payments, SAPay is designed to drive financial inclusion, giving millions of South Africans access to digital financial tools in one of the continent’s largest informal sectors. A B-BBEE organisation headquartered in Gauteng, SAPay brings together decades of experience in transport, safety, payments, and software development. More at www.sapay.co.za.
About Accion
Accion is a global nonprofit on a mission to create a fair and inclusive economy for the 1.6 billion people who are failed by the global financial system. We develop and scale responsible digital financial solutions for small business owners, smallholder farmers, and women, so they can make informed decisions and improve their lives. Through targeted investment strategies, advisory solutions, and expert thought leadership, we work with local partners to develop and scale cheaper, more accessible, and customer-friendly financial solutions. Since 1961, Accion has helped build 299
financial service providers serving low-income clients in 77 countries, reaching over 500 million people. More at https://www.accion.org.
About Mastercard Center for Inclusive Growth
The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages Mastercard’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter.
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Media Contact
Sally Bohrer
Manager, Public Relations
sbohrer@accion.org