13 Mar Mobile Money in Africa Enables eCommerce Payments for Multinational eCommerce Company Payment Online

The African mobile money market is set to grow at almost 40% per annum over the next few years.  Opportunities for African eCommerce are on the rise as mobile money from mobile phone companies grows.  

Mobile money in Africa is the main form of transacting at the till and online.  There is little differentiation when it comes to mobile payment between P2P and C2B payments .  As opposed to the European models, in Africa mobile money is simply the process of moving money from one party to another.  

The traditional model of master-slave ie merchant-consumer does not apply.  It is simply a payer and receiver of money when it comes to mobile money in Africa.  For example with M-Pesa the money simply moves from consumer to consumer or consumer to merchant.  M-Pesa is the pervasive way to pay in East Africa and particularly Kenya.  

Unbanked customers wanting to buy and pay for goods and services online in Kenya can pay multinational merchants online via African Payment Solutions using their M-Pesa account.  African Payment Solutions is linked to M-Pesa for multinational eCommerce companies to accept eCommerce and online payments in Kenya.  

The key mobile money players are Tigo Pesa, MTN Mobile Money, M-Pesa, Orange money and Airtel money.  Interoperability is steadily increasing through cooperation between the MNOs.  Mobile money for eCommerce payment is well established in Kenya and Nigeria, and to a lesser extent in Tanzania, Uganda and Ghana.    

There is no need for mobile payment for eCommerce and online payment in South Africa as a result of a well established banking infrastructure.   Contact African Payment Solutions who are linked for multinational eCommerce acquiring to the key payment methods in South Africa.    

 

Our thanks to http://www.marketwatch.com/story/africa-mobile-money-market-worth-1427-billion-by-2020-2015-07-15 for their content inspiration