14 Jul eCommerce Growth and Online Payment in Africa - Nigeria, South Africa and Kenya and now Ghana
Kenya, South Africa and Nigeria are the hubs and entry point for Multinational eCommerce companies entering the African eCommerce market and looking for online payment through African Payment Solutions, and Ghana is hot on their heels. Ghana’s Vice-President Bawumia is driving digital financial inclusion with MasterCard towards a cashless society in 2020. Most Ghanaians have a mobile phone. According to UNCDF, 40% of adults in the least developed countries in Africa have access to a mobile phone and this is growing by 40% per annum. The adult population of Nigeria is almost 100m, almost 60m are under 35 years old and 60% own a mobile phone (Metrics courtesy of EFInA) Mobile payment solutions across Africa are stimulating mCommerce, eCommerce and digital transformation across many sectors. African millennials are increasingly connected and looking for a secure way to transact. MNO’s are introducing 4G LTE broadband which is accelerating access to international eCommerce websites for purchases. Combined with easy online payment methods in Nigeria including Verve, eTranzact and scheme debit cards available through a single integration to African Payment Solutions, and a rising Paga mobile payment method, the eCommerce environment is looking attractive for international eCommerce brands. Nigeria is the leader when it comes to eCommerce and mCommerce in West Africa. The connectivity and payment infrastructure is well developed and transacting can be in USD or local currency NGN. The Nigerian digital economy is rivalling South Africa for leadership in Sub-Saharan Africa. Pin-based cards and 3D Secure has significantly reduced fraud for online shopping and eCommerce payments. Contact African Payment Solutions if you are a global multinational eCommerce brand looking for eCommerce payment pan-Africa for your eCommerce goods and services. Our thanks for inspiration to ThisDayLive and Africa.com