09 Sep Online Payment in Africa: Expanding to Kenya for eCommerce Accepting M-Pesa

Mobile wallets always have the problem of interoperability and reaching a critical  level of market adoption to become the de facto payment method of choice.  Cooperation between players is key to success – bringing telcos, banks, and government together in concert.

M-Pesa was only introduced in 2007 and has grown to more than 20m active users in Kenya and almost 300m transactions a year.  It is used by most kenyans on a daily basis to pay bills online and/or at the till.  The developed world is looking at a trend of the merging of online and offline transactions, and yet Kenya did it from the getgo with Safaricom’s M-Pesa.    Buy in store or buy goods online from international merchants via African Payment Solutions payment gateway

A combination of DFID aid and Vodafone created this runaway train of economic connection and development.  Even microloans are now possible through this service, fuelling an educated and entrepreneurial economy.  Paving the way for consumers to transact internationally with global eCommerce and mCommerce merchants.  

An investment of £2m created this unbelievable product and service that has revolutionised the way people transact and do business.  An  example out of Africa, for Africa and a leapfrogging example to the world of fintech.  

Not even ten years after its introduction, M-Pesa is the de facto payment method in Kenya and is accessible to most of the population and connecting them to the rest of the world for trade.  Consumers can visit an online shop, purchase goods and checkout using M-Pesa payment which is available to merchants via a simple PCI Level 1 integration to African Payment Solutions.

Africa is the new playground for eCommerce and mCommerce merchants where growth records are broken every year and far exceeded that of mature markets like Europe and America.  Almost a billion mobile subscribers, many of whom can buy and pay using their particular mobile money, cannot be ignored in the expansion plans of truly global players  

Facebook, Uber, Amazon, Microsoft, Booking.com are all expanding online to Kenya and holding workshops and meeting with local businesses to catalyse their growth.  Businesses expanding online to Kenya and countries in East Africa can get paid via a number of priority local payment methods like M-Pesa and Smartcash through a single integration to African Payment Solutions payment gateway.

Our thanks to http://www.businesswire.com/news/home/20150810005042/en/Heartland-CEO-Give-Keynote-2015-Mobile-Payments#.VcmMphOqqko and http://www.forbes.com/sites/danielrunde/2015/08/12/m-pesa-and-the-rise-of-the-global-mobile-money-market/ for their content inspiration