04 Mar African eCommerce Payments: There Is Going To Be Fierce Competition Between Global And Local Mobile Monies Across Africa! Who Are Going To Be The Winners?

As you know from our previous blogs and videos, the mobile and mobile money is king across Africa.  Having talked about the back end interoperability and connectedness of traditional banking and mobile money systems, lets take a quick look at mobile payments and wallets in Africa and global payment systems that would like to be in Africa

It is impossible to do a complete overview of digital wallets and mobile monies but this will give you an idea of the explosion and size of market there is in mobile money.

Starting with global systems like PromptPay from Vocalink which has linked up all citizens and banks in Thailand to facilitate instant transactions between anyone.  Then lets talk about Ten Pay which is used by 500m ie 80% of Wechat’s users. Then their competitor Alipay with similar numbers in the Asian markets.  Google Pay whereby you can accept money using gmail and pay or accept payment in your browser on any device.  What about Apple Pay which is getting traction predominantly in developed markets who can afford an iphone.  Venmo from PayPal and by linking your bank account or card you can pay merchants who link to Braintree or PayPal checkout.  How about Samsung Pay, with their smartphone distribution network, which can be used to pay inapp or online.  

Now lets turn to Africa which is going to be no mean feat for these developed economy mobile monies targeting Africa and hungry for the eyeballs of the next billion mobile-powered and underbanked users.  Africa is well sorted with a variety of mobile money providers.

Starting with M-Pesa who own the Kenyan mobile money market.  Not in order of size but Moov and Flooz mobile money from Maroc Telecom who are dominant in the Western and Central (remote) African countries.    Meet Hellocash in Ethiopia who own this space with M-Birr mobile money. Tigo Pesa, Tigo Cash and Tigo Money who have a presence in 5 East African countries with more than 8m customers.  Tanzania based EzyPesa from Zantel. M-Gurush serves the more than 10m South Sudanese. Ecocash is in Zimbabwe has the highest market share of any country across the continent. And then let’s not forget MTN Mobile Money with around 30m mobile money accounts in 14 African countries. Orange have 15m active mobile money users.  Lastly Vodafone Cash and then Airtel money who have 14m mobile money users in 14 countries. 

Not a comprehensive list, but indicative of the explosion of mobile money adoption -  food for thought on how it may play out across Africa for us as a Payment Gateway and our multinational eCommerce merchants.

So if you are looking to work with experts on payment across Africa, click here to get in touch with us.

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