The South African Economy

The South African economy is said to be the largest in Africa.It accounts fro 24% of the gross domestic product of the continent. South Africa is ranked together with Botswana, Ga and Mauritius by the World Bank as the countries in the upper middle income economies.

South Africa attributes the success of its economy to agriculture production,mining and manufacturing.

South Africa is one of the largest producers of grapefruit,cereals,maize,castor oil seeds and fibre oil crops. Cereals and grains are South Africa’s most important crop.Maize, in particular is a very important crop as it is a staple food ,and a source of stock feed and it is also exported.Other grains include wheat,sorghum and barley.

The mining industry has been the main driving force behind the history and development of Africa’s most advanced and richest economy.The major minerals are gold,diamonds and platinum.With South Africa’s economy built on gold ad diamond mining,the industry is an important foreign exchange earner,with gold accounting for more that one third of exports.

According to www.southafrica.info, South Africa has developed an established,diversified manufacturing base that has shown its resilience and potential to compete in the global economy.The numerous manufacturing industries that support the economy include the agriprocessing industry,automotive industry,chemical industry,ICT and electronics,metals industry,textiles and the clothing and footwear industry.

CARD SAFETY

Consumers have become techno-savvy,they go shopping without having left their homes.The use of debit/credit cards to shop over the phone and online has made the life of shopper alot more convenient.In South Africa,for instance,consumers are able to shop at Pick n Pay by simply logging onto the site and using their cards as a method of payment.

AS consumers become more technologically apt,so do fraudsters.They are continually finding new ways to rob people of their earnings by stealing their card information and using it fro their benefit.Consumers need to safeguard themselves from these criminals.

Consumers can do this by ensuring that their cards are 3D secure.By being 3D secure,consumers are securing their information as they are not physically there with the card at the time of the transaction.

A consumer can go to the bank that  has issued their card to become 3D secure.Whenever a consumer attempts to use their 3D verified card,there will be a redirect to the website of the issuing bank to authorize the transaction.This authorization could come in the form of a password meaning that if the consumer does not get this password through a text message or email, then they are unable to continue with the transaction.

In this was consumers are protected from online fraud.