12 Dec Alternative and Mobile Payment Methods in Africa: Kenya, Nigeria, South Africa - a Different Story to Mainstream Alternative Payments

Online payments processed in 2014 grew by 50% and mobile payment is growing particularly fast in emerging markets, including China who has over 300m mobile payment consumers.

Many governments are embracing mobile payments and mobile alternative payment methods which is catalysing widespread adoption in emerging markets like Africa.  We need to make a distinction between statistics associated with mobile payment at the till and the use of mobile payment methods used online.

Whilst the developed world is experiencing strong growth and awareness when it comes to mobile payment methods like ApplePay and AndroidPay and SamsungPay, they are a new way of paying and having a tough time competing with cards as the dominant way of paying at the till and online.  

By contrast, emerging markets like Africa for example Nigeria where mobile payments have grown tenfold, is a different story. Mobile payment methods in Africa are the de facto method of payment by way of example Kenya where M-Pesa is used by more than 60% of the population to make daily purchases and is increasingly being used for eCommerce and online purchases.  Competition from cards for payment online is growing off a low base.

Contact African Payment Solutions now for a pan-African solution and single integration to a number of key alternative and mobile payment methods across Africa, including the big eCommerce hubs Kenya, Nigeria and South Africa.



Our thanks to Ystats and  http://www.openpr.com/news/314358/Online-Payment-Environments-Worldwide-Remain-Dynamic.html? for their content inspiration