06 Feb eCommerce Payment in Africa: Growth of Mobile Payment for Online Purchases (Part 2)

There are some very interesting parallels between the nature of the Asia/Pacific market and Africa.  Emerging markets like Asia Pacific and Africa is where the double digit growth of mobile payment methods is taking place.  More developed markets have established banking and methods of payment which are difficult to disrupt.

The developing countries have government intervention which catalyses the growth and saturation level of local mobile payment methods like M-Pesa in Kenya and Paga in Nigeria.  The loose local legislation and generous funding led to the enormous success for example of M-Pesa.

Kenya, although smaller, is an easier market in which to do eCommerce business.  Kenya has online payment solutions including Kenya online credit card payments, Kenyan M-Pesa payments which are pervasive, Airtel Money, and even some Kenyan debit cards are enabled for online payment.

Smartphone adoption in Africa is growing rapidly in Africa which bodes well for mCommerce growth in the territory.  Bill Gates once said something to the effect that he could see that the success of his business was merely to jump onto the consumer trend and hang on for the ride.  Africa and eCommerce and mCommerce is going the same way.

Online payment using credit cards, debit cards and local alternative payments like Paga in Nigeria and M-Pesa in Kenya is experiencing the same growth curve.  Multinationals looking to expand from their flat growth mature markets to Africa’s rising consumer market with an appetite for retail goods and developed market services need to consider local payment methods.

If you are a multinational, contact African Payment Solutions for pan-African eCommerce Payment methods

 

 

Our thanks to http://www.lowcards.com/mobile-payments-projected-double-2017-35703 for their inspiration