While cash remains a prevalent payment method in African eCommerce, a notable shift towards digital payments is underway.
- Cash on Delivery: Cash on delivery remains popular in countries like Kenya and Nigeria, reflecting a preference for cash in markets with limited banking infrastructure.
- Mobile Money’s Rise: Platforms like M-Pesa in Kenya are gaining significant traction, demonstrating the growing adoption of digital payment solutions.
- Digital Wallets and Crypto: Digital wallets are becoming more popular, particularly in South Africa. Cryptocurrencies offer an alternative for unbanked populations to leapfrog into digital payments.
This evolving payment landscape requires businesses to adapt and offer a variety of payment options to cater to diverse customer preferences. By embracing both cash and digital solutions, businesses can create a more inclusive and accessible payment ecosystem in Africa.
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