13 Jan eCommerce and Payment in Côte d’Ivoire: Mobile and Alternative Payment Methods

African credit card processing; Accepting online payments from Africa; African ecommerce payments; African ecommerce strategy; Emerging African ecommerce

Côte d’Ivoire is a dark horse when it comes to the African eCommerce market.  They seem surprisingly innovative when it comes to adoption of fintech and mobile penetration (more than 90%)

Leading African eCommerce company Jumia has become an authorised dealer of Intex smartphones in Côte d’Ivoire.   The success of Jumia in eCommerce in the country is paving the way for multinationals to sell to Côte d’Ivoire eCommerce consumers.

Côte d’Ivoire has a population of over 20m, it has as many mobile subscribers, and has been experiencing economic growth of 8% per annum.    Orange and MTN are the dominant telcos with more than 70% market share between them.  

Both MTN and Orange have mature mobile money wallets and offer mobile money alternative payments to their subscribers who would like to pay in store or online for eCommerce.  By end of 2014 there were almost 5m active mobile money accounts which was almost 200% up on the previous year.

Credit cards are at a low ebb in Côte d’Ivoire and mobile money is in use by over 6m consumers is the primary payment method.  Most eCommerce purchases are COD, but mobile money as a form of eCommerce payment is growing very rapidly.  

Internet penetration is up to 100%, mostly via 3G and over 20,000km of fibre has been installed.  This is a well organised economy with a great future for mCommerce and eCommerce based on the fundamentals and its growth potential.  

Contact African Payment Solutions for African credit card processing, accepting online payments from Africa, African ecommerce payments for your African ecommerce strategy or emerging African ecommerce

Our thanks to http://paymentsafrika.com/region/intex-technologies-marks-its-historic-arrival-in-cote-divoire/#sthash.LyHyIry7.dpuf for their content inspiration