02 Aug Online Payment: Kenyan Market Ripe for Gaming, Binary, Software Downloads and Music Streaming
The Kenyan consumer market is ripe and ready for international goods and services. Multinational merchants can enjoy the rapid growth of this “consumer rising” market as a result of population growth, young and well connected consumers, rising incomes, and ability to get paid via local mobile payment methods.
Having said all of the above, it is not all plain sailing. But is is becoming much easier. For example, multinational merchants can now easily get paid for eCommerce and mCommerce goods with M-Pesa online through a world class gateway. African Payment Solutions is a PCI Level 1 Compliant gateway linked to a number of African local payment methods.
The most successful entrants into the Kenyan market are the providers of digital services such as gaming, binary, software downloads and music streaming. Bandwidth infrastructure is great but physical infrastructure is shocking. Although it is improving, getting goods delivered on time in good condition is quite a challenge.
Digital service providers can sell to an increasingly educated market hungry for software, digital services, music streaming, online gaming and binary. These services can be sold to the Kenyan market quite simply and easily by opening M-Pesa online as a payment method for eCommerce.
M-Pesa is a secure payment method that does not have the fraud problems experienced with card (card is not a widely accepted online payment method in Kenya). Even people in rural areas are connected and have M-Pesa as a payment method. They can buy online as easily as an urban consumer.
The consumer market is not the same as European markets. For example their taste and demand for goods is different. The great thing about digital services is that they can be opened up and tested for sale. AB testing can mean that the market itself determines the demand for digital services by way of trial and error. Let the market decide.
Our thanks to http://africajumpstart.com/2015/02/24/where-to-set-up-your-african-e-commerce-business/ for their content inspiration