06 Jul M-Pesa Got a Head Start as an eCommerce Mobile Payment Method in Africa

You can’t be in Africa with payments without M-Pesa.  Founded by Safaricom, a member of the Vodafone stable, in Kenya in 2007, M-Pesa is a mobile payment method that enables mobile subscribers to transfer money between each other and now via African Payment Solutions to pay bills online for eCommerce purchases.

M-Pesa is effectively a wallet that consumers can use to deposit money and pay for goods and services as you would do with a bank account, but quicker and easier and more cost effective.  

M-Pesa has expanded as a payment method to a number of other markets in Africa, like South Africa, Tanzania and India, but the payment method is not always accessible via the same platform and integration.  

Kenya is by far the most successful M-Pesa implementation in terms of market adoption and penetration.   The M-Pesa mobile money has stimulated a lot of copycat mobile payment methods that are playing catchup like Airtel, Equitel and many others across the African continent.   

None of these mobile payment methods have been as successful, but many of them have achieved significant traction and are worthy of consideration when it comes to tackling certain countries and achieving optimal payment method reach into the targeted consumer base.

M-Pesa, now the most popular and successful mobile payment method in Africa has become the market leader as a result of a number of factors which may not be enjoyed by subsequent African online mobile payment methods.

The Central Bank let Safaricom effectively forge ahead unregulated which allowed M-Pesa, now an eCommerce online payment method via African Payment Solutions, to get good traction and adoption.

There was significant donation funding which was used to kickstart M-Pesa, allowing for it to be economically adopted and achieve critical mass as the de facto mobile payment method in Kenya.

To find out more about mobile payment methods in your eCommerce rollout to targeted African countries, contact the team at African Payment Solutions.  Our team have more than 15 years experience with eCommerce and mCommerce payments in Africa.

Our thanks to http://www.edwardtagoe.com/blog/2015/07/29/why-there-might-not-be-another-mpesa-in-africa/ for the content inspiration