Mona-Lisa Maposa is a business banker but she doesn't remember the last time she had R500 in her wallet.
"The most I have in my wallet these days is about R100 and even that is seldom," said the Capetonian, one of a growing number of South Africans who have stopped using cash and switched to internet banking, apps and scan-and-pay options.
"I find electronic banking a lot cheaper compared to using cash, but above all it's a lot safer and I can account for every cent I spend," said Maposa.
A survey by Capitec Bank found that 45% of consumers are ready to go cashless. The poll found that most people who use cash spend it on transport, with just 25% paying for food in cash.
FNB said that in the past three years it had issued 8.5-million contactless-enabled debit and credit cards, and customers had used them to spend more than R1bn.
"The frequency of use has grown by between 100% and 300% on our credit and debit cards respectively," said FNB retail CEO Raj Makanjee.
But for car guards and informal traders, the switch to electronic payments has had undesirable consequences.
Clothing maker Zimkitha Phala, who sells her products at markets in Bellville and Pinelands, said she is losing potential customers.
"Many really love my products but they end up walking away because they don't carry cash," she said.
Phala is considering getting her own card-payment machine after she noticed a steep increase in her turnover when a fellow trader lent her a device.
Geraldine Rhoda, who has been a car guard in Cape Town's CBD for two decades, said the falling popularity of cash had halved her income.
"Nowadays motorists just drive away and say: 'Sorry I don't have cash.' At times those with good hearts will offer to buy me something to eat rather as they don't have coins to spare.
"On a good day I make about R90 at the most. It's gone very quiet . so quiet that at times I just get enough money for a taxi fare home."..