Ghana authorities have passed legislation to regulate mobile money in the country.  Companies like MTN with their MTN Mobile Money have six months to become licensed and comply with local legislation when it comes to mobile money.  

CEO of MTN Ghana, Ebenezer Asante says that more cooperation between banks and telcos and interoperability when it comes to financial inclusion can be highly beneficial for the market as a whole.  Asante says that in Rwanda where banks and telcos and government worked together, all parties benefitted including consumers.

Alternative payment methods in Ghana like Vodafone Cash, Airtel Money, Tigo Cash will all now be subject to the new legislation.  Mobile money across Africa, successfully pioneered by Safaricom with their M-Pesa has experienced exponential growth and prospered as a result of a lower levels of legislation.

 Another reason for rapid growth of mobile money for online payment and eCommerce payments is the involvement of eGovernment whereby consumers can pay for rates, fines, electricity etc using their mobile money wallets.   In countries where this has been implemented like Nigeria, Kenya and Rwanda, consumers have been encouraged to become part of the financial and mobile money ecosystem, pay bills online and educated in paying and making eCommerce purchases online.

 This cooperation between banks and Telco’s and the rapid growth and adoption of mobile money across Africa, has created the opportunity for African Payment Solutions, through a single integration to provide multinational eCommerce companies with a pan-African eCommerce payment solution.

 Mobile Money penetration in Ghana is now 20%, way ahead of bank accounts and growing more rapidly than access to banking systems.  

Contact us at African Payment Solutions for more information about a pan-African eCommerce online payment solution for your multinational eCommerce business


Our thanks to http://mobilemoneyafrica.com/content.php?id=2322 for their content inspiration.