18 Apr Africa is Home to Alternative Mobile Payments for eCommerce and mCommerce

Posted at 13:04h

Africa is the home of alternative mobile payments and with over a billion consumers Africa is ripe for eCommerce and mCommerce .  In Sub-Saharan Africa, Nigeria, Kenya and South Africa are moving ahead in leaps and bounds with increasing mobile penetration levels, financial inclusion and internet connectivity.  

Initial focus is on digital goods and as courier and delivery services improve, eCommerce of physical goods will continue to increase.  Increasing bandwidth,  mobile penetration, widespread alternative mobile payment methods like M-Pesa and Paga and hunger from consumers for Western goods and services is fuelling growth in mCommerce.

Kenya, Nigeria and South Africa are among the leading nations when it comes to eCommerce and mCommerce in Africa.   Africa’s eCommerce is growing at 26% per annum in comparison to the global eCommerce growth rate of 17%.  

Multinational global eCommerce companies have to think differently when it comes to payment in Africa.  Whilst the Card Schemes are making good inroads by issuing cards and linking them to the variety of local alternative mobile payment methods or replacing private label cards, the overriding consumer need is to pay with local mobile payment methods in each country for eg M-Pesa in Kenya.  Mobile payment account penetration in Africa is at 12% as compared to the rest of the world with 2%.  

If you are a multinational eCommerce and/or mCommerce company looking to open up new territories Nigeria, Kenya or South Africa, contact African Payment Solutions now for more info on a single integration to key pan-African mobile payment methods.

 



Our thanks for content inspiration to http://www.linkedin.com/pulse/mobile-money-best-fit-mcommerce-ecommerce-africa-jide-akindele?trk=eml-b2_content_ecosystem_digest-network_publishes-363-null&midToken=AQE3UqRGvlNymg&fromEmail=fromEmail&ut=3Avn3fcBqckCY1