Optimizing PoS agent banking for inclusive rural economies:

Purpose: This paper explores the impact of Point-of-Sale (PoS) agent banking on streamlining digital and cash transactions, emphasizing its potential to alleviate financial exclusion in rural South African communities while addressing inherent challenges. Method: An exploratory qualitative case study research methodology was employed, utilizing a participatory community-led action research approach. With proponents from the Routine Activity Theory, this study provides a comprehensive understanding of potential criminalities resonating with the model’s implementation. Findings: In South Africa, PoS banking holds significant potential to stimulate entrepreneurship and improve livelihoods in underserved rural areas. However, the success of PoS banking is hindered by cybersecurity risks, fraud, agent credibility issues, and physical security threats like robbery. Possible interventions include strengthening agent registration, raising public awareness, enhancing digital security protocols, and bolstering regulatory and law enforcement frameworks. Significance: The research highlights the importance of PoS banking in overcoming financial exclusion and fostering community development in Africa. It emphasizes the necessity for a multi-faceted approach to mitigate associated risks, combining better regulatory oversight, law enforcement, public education, and technological security. These measures are essential to ensure the safe and sustainable growth of PoS banking in promoting economic inclusion and resilience in vulnerable communities. Further inquiry that provides intervention measures to other forms of implementation storms is critically imperative in fostering its integration propinquity.