So many new ways to pay

The mobile and digital payments market is getting crowded.

Standard Bank and MasterCard launched MasterPass yesterday - a digital wallet that gives consumers a quick and seamless online shopping experience.

This comes days after FlickPay was the latest mobile payment app to hit the local market, joining the ranks of SnapScan, Zapper, VCPay and Geopayments.

SnapScan is also a Standard Bank product and handles payments to small businesses, typically to buy a cup of coffee or a muffin from a cafe or a stall.

FlickPay enters the same space. It was launched in a Vida e Caffé by platform provider wiGroup. Within the next month it will be rolled out in KFCs in Western Cape as well as Fournos Bakery, News Café and Boost Juice in Gauteng.

Tech industry analyst Arthur Goldstuck said though mobile payment solutions are practical, they may be slow on the uptake.

"To make progress with this kind of product you basically have to come up with a better alternative to cash," he said.

"It's not so much about security, it's about a lack of confidence and experience."

The MasterPass aims to allay these fears, while trying to boost convenience.

Additional reporting by TJ Strydom