07 Oct Feedback On Ice Africa - Payments For Licensed Betting And Gambling Companies Across Africa

Posted at 11:46h

I recently attended ICE Africa betting and gaming conference to find out what everyone is doing about their payments across Africa and how we can help them.  It's not that easy for betting and online gambling companies to get acquired across the African continent. 

Some jurisdictions are more favourable than others.  Betting and online gambling companies looking for payment cross africa have a kind of double negative that makes it difficult for them in the card acquiring area.  Coding as 7995 plus the problem of declining of transactions from certain jurisdictions can lead to low conversion rates.

Mobile money is easier and payment via Airtel Money, MTN Mobile Money, Tigo cash and Vodafone Cash have higher conversion rates and are a good solution for betting and online gambling companies expanding across the continent and looking to get paid by African consumers.

The two main problems facing gambling and betting companies are uncertainty with regard to legislation, and the ease with which their consumers can pay.  In the panel discussions there was an element of confusion around the Kenya government’s suspension of M-Pesa payments for betting and online gambling companies.  Some operators who were planning on entering the territory were concerned that they might be switched off at a moment's notice having invested in the necessary compliance. 

Nigeria seems to be a friendly country for online betting and gambling, and payments are a little easier.  The payments infrastructure in Nigeria is good and online payments are predominantly card and bank debits.  

South African legislation is very clear and online payments for licensed operators is possible.  

The advice from experience operators is that Africa cannot be considered a “country”.  It is a continent made up of many diversely functional countries each of which has their individual anomalies.  An expansion strategy needs to pick a few compatible jurisdictions and go deeper rather than wider.  

Online payments and choice of payment providers for online gambling and betting in Kenya, Nigeria and South Africa is not an exact science, but the opportunity for growth when you get it right is significant.  

If you are looking for online payments across Africa click here and we will see how we can help you.