07 Apr eCommerce and mCommerce – New Emerging Targets Markets like Kenya with M-Pesa Online Payment

Because eCommerce and mCommerce can be done anywhere with anyone linked to the internet, they are largely borderless in their choice of target markets.  Having said that, it is important that target markets are chosen based on the critical parameters.  First world markets are traditionally very competitive and saturated and so it pays to look further to less competitive markets that are easily accessible and growing.

Because eCommerce and mCommerce are completely dependent on internet users and smartphones, the growing internet access and smartphone penetration in emerging markets provides great opportunity to multinational ecommerce and mcommerce businesses.

Another very important criteria is the ability to get paid by the target eCommerce and mCommerce market’s favoured payment methods.  In most of these emerging markets, credit card penetration is very low and debit cards are often not enabled for online payment.

A big plus is that there are a number of local mobile payment methods which are the de facto in-country payment method and used by a high percentage of the population.  Kenya with M-Pesa is the best example of this with 11m+ active M-Pesa users of the 44m population.

African Payment Solutions, a global payment gateway linked to more than 70 banks worldwide and enabling multinational merchants to trade easily in Africa, has switched on M-Pesa for payment by Kenyan consumers for online goods.  Kenyan consumers can now log on to a website using the internet or their smartphone and buy goods by doing a transaction on their mobile using their favoured payment methods.  They use M-Pesa to pay for all sorts of things in their home country.

Our thanks to http://dazeinfo.com/2015/07/20/what-does-growth-in-emerging-markets-mean-for-e-commerce/ for their content inspiration