03 Jun VIDEO: A High Level on African Online Payments - capital controls, mobile trends, mobile money Posted at 12:26h Notes: Remittances Cost an average of about 9% compared to the global average of 6.8% Very important in Sub-Saharan Africa and a key component of economic income. 25 million expats send home more than $48 billion a year. Sub-Saharan Africa has had the fastest growing migrant populations since 2010. Capital Control Many African countries are rapidly imposing capital controls in order to shore up their foreign exchange reserves. Compounded by authorities trying to defend currencies from losing value which Can lead to sudden restrictions on foreign exchange Digital & Mobile Trends almost 60% of the Sub-Saharan population living in rural areas Thats why, mobile and digital solutions make far more sense. most of Africa has leapfrogged traditional finance entirely, going straight to mobile banking. Mobile payment is already big The success of M-Pesa, paved the way for mobile money 37 million active user across 7 countries but most are in kenya M-Pesa is processing 11 billion transactions per year. 21% of Sub-Saharan Africans now use a mobile money service more users of mobile accounts than traditional bank accounts. Our services include: Nigeria Online payment solutions Credit card payments eCommerce payments Payment provider Payment gateway Kenya Online payment solutions Credit card payments eCommerce payments Payment provider Payment gateway South Africa Online payment solutions Credit card payments eCommerce payments Payment provider Payment gateway
