PayInc said 186.8 million electronic transactions were processed during June, up 11.6% from a year earlier.
South Africans continued to embrace digital payments in June despite economic activity weakening for a second consecutive month.
This suggests households are still spending but are becoming increasingly cautious as higher fuel prices, elevated interest rates and global uncertainty weigh on confidence.
The PayInc Economic Index, which tracks the real value of electronic transactions together with wholesale cash demand, declined 0.9% in June after a revised 2.0% contraction in May, reaching its lowest level since November 2025.
Although the index remained 2.5% higher than a year earlier, independent economist Elize Kruger said the first half of 2026 reflected a strong first quarter followed by a notable moderation in economic activity during the second quarter.
