10 Feb Will Africans soon be the Pioneers and Disruptors of Online Payments Across the World?
Us Africans aren't as attached to the same drivers that the developed world are wrestling with in terms of surveillance, libertarianism, devaluation of fiat, . . . 1st world problems :) We Africans are driven by need, and focused on getting the job done - however we can. I have my mobile, I want to pay. It’s frustrating trying to do cross border transactions and I am paying a lot for it. How can I make it easier and cheaper? I’m frustrated with currency controls. I need to find a way to send currency and pay for goods and services crossborder without these restrictions. Us Africans are not that fussed about laws and like a river will find ways around things to get the job done. I have my mobile (“financial weapon”) in my hand. How can I use it to achieve my goals? To buy goods and services online, and for us to send money to each other? We are power-users when it comes to mobile - don’t underestimate how good we are at using our “financial weapon” to make things happen. It's no mean feat that we can use USSD to access financial services with the most basic of mobile technology. As Africans, we are used to it. We are resourceful. It’s about survival of the fittest in Africa. This is not the cushy domain of Europe and USA and UK where it is civilised, organised, everything is on a plate, and the wheels of finance are lubricated and made super easy for the consumer. Us Africans are used to finding the shortest distance between two financial points to get things done - to get paid, to buy goods from international websites, to send money home, to stop a family member from dying from starvation or some untreated disease. There is going to be a levelling of the playing fields. We have a need, we are resourceful, we are power mobile-users, we are young and full of energy and enthusiasm. Used to operating within or around the constraints of erratic legislation, volatile economic situations, infrastructural deficiencies, limited technology. In Germany you wait for the lights at the crossing to go green before crossing - in Africa there are no lights or if there are, it’s the fastest and fittest that get across the road through unstoppable oncoming traffic. However you get across the road, without dying, that’s the best way. Same in getting the best out of your financial management. From an online payments perspective we Africans will use whatever resources at our disposal to achieve our end goal. If it's mobile money (which we pretty much invented and made famous), or more recently card, even more recently instant bank transfers using USSD, and soon digital wallets with digital currencies. Us Africans are going to be to first and fastest adopters of the latest, most convenient ways to pay. Never mind our 400m African (or half of the world’s) mobile money accounts . . throw mobile messaging and social media into the mix with our 200m African mobile Facebook users powered by Libra? Things are getting exciting for us. We ready to take on the world. Anonymous. Services include: THANK YOU - THE TEAM AT AFRICAN PAYMENT SOLUTIONS