SARS released a paper some weeks ago discussing “How can agency banking deepen financial inclusion in South Africa?”
I thought a lot of the points covered were extremely informative and had some additions I’d like to add about how tipped could support this mission.
A recent working paper by Lwanga Elizabeth Nanziri and Paul Terna Gbahabo highlights the power of agency banking in deepening financial inclusion in South Africa.
I feel that it’s an important read that underscores a reality we see every day: while many South Africans have bank accounts, millions remain excluded from truly benefiting from financial services.
One key takeaway from the research is that despite account ownership, many people still rely heavily on cash, either out of necessity or habit. Digital tipping presents an opportunity to complement agency banking and drive further financial inclusion.
At tipped, we believe that every small transaction is an entry point to financial participation. Petrol attendants, hospitality staff, and service workers (many of whom fall into the underbanked category) rely on tips to supplement their income. But if those tips remain in cash, they miss out on building a financial footprint, saving securely, and accessing credit opportunities.
By digitising tips, we enable secure, direct payments and open doors to a broader financial ecosystem. The more people engage with digital transactions, the easier it becomes for them to transition into other financial services like savings, insurance, and credit.
South Africa’s journey towards full financial inclusion will take collaboration across multiple sectors, and we’re committed to playing our part.
I would love to hear your thoughts; how else can we drive financial inclusion for those who need it most?
-Kimlynn Temple-tipped Founder and CEO 2025
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