15 Mar Smartphone Penetration and Online Payment for eCommerce in Nigeria, Kenya and South Africa
Mobile phones across Africa are being used to buy eCommerce goods and services including travel, payments and for micro loans. Smartphone penetration is increasing at a rapid rate in African countries like Nigeria (30%), Kenya (26%) and South Africa (40%). Safaricom smartphone subscribers can now purchase eCommerce and mCommerce goods and services and pay online using their mobile phone. Kenya is the leading economy in East Africa and perfectly positioned for multinational eCommerce companies to open up for eCommerce in emerging markets More than half of Kenyans have mobile banking services in the palm of their hand. Admittedly some of these are feature phones, but soon they will all be smartphones. According to Standard Investment Bank Research, the ATV for debit card is increasing consistently and debit cards account for more than 95% of all card transactions. Credit card transactions in Kenya are growing rapidly but have just exceeded 2% of card payments. African Payment Solutions is connected to key online payment methods across Africa and particularly Kenya, Nigeria and South Africa. According to Gartner there will be 450m mobile payment enabled consumers by 2017. This is fuelled by the need to send money from one person to another and replacement of the cumbersome traditional money transfer system. This is good for eCommerce and mCommerce because each of these consumers could potentially use this payment to shop online at multinational eCommerce stores. Our thanks for inspiration to http://mobileworldcapital.com/mobile-payments-instead-of-credit-cards-in-kenya/ and http://mobilemoneyafrica.com/content.php?id=2397