16 Aug Getting Paid Online in Kenya, Nigeria, South Africa and Zimbabwe

Whilst stats vary from one resource to another, here is our take on the market share of Mobile Money enabled consumers that potentially could buy and pay online if they have access to the internet and eCommerce merchant websites. Let’s start with Kenya as the market leader which has a population of around 50m people and active M-Pesa accounts of around 24m ie almost half the population. Airtel and Equitel are a far second with 5% and 4% respectively. Niger...
Read More

14 Aug African Payments: Online Payment Methods for eCommerce in Nigeria

Nigeria has a population of almost 200m people and is a relatively well developed African economy.  The payment systems work well and there is a variety of card, pay by bank (bank transfer with USSD) and mobile money payment methods, all of which can be used for online payment for eCommerce companies. Nigeria’s payment system NIBSS is well developed and works well.  Nigerians need to have a BVN, which is a Bank Verification Number, in order to open ...
Read More

13 Aug Accepting M-Pesa in Kenya for Online Payment - Payment Gateway

M-Pesa is by far the dominating payment method in Kenya with almost 2bn transactions per annum worth more than 10m KES a year, and used by almost 25m Kenyans ie more than 80% of the Kenyan population. M-Pesa has added a range of value added services like savings, loans and insurance in addition to payments which embeds it as the de facto payment system.  It works very well as an online payment system for eCommerce and eCommerce payments in Kenya. African Paym...
Read More

12 Aug The Intricacies of eCommerce Payments Across Africa - List of Payment Gateways

To put together a list of payment gateways across Africa is almost impossible.  Africa is a continent and is made up of 54 countries, each with their unique dynamics in terms of eCommerce payment.  Most systems are not interoperable and providers of online payment capability vary considerably.   Firstly, online payment gateway acquiring across Africa is segmented into silos.  Payment provision is done by banks, MNO’s (telecom companie...
Read More

09 Aug Online Payment Africa - Drivers of eCommerce Adoption Across Africa (Part 3)

Continued from Part 2 eCommerce across Africa is booming with the advent of global eCommerce companies expanding to the fast growing African continent combined with the internal growth as a result  of increased literacy, techability, disposable income, mobile phone penetration and connectivity.   Literacy - there has been a significant increase in literacy and tech-literacy levels across Africa over the past ten years and this translates to higher l...
Read More

08 Aug Online Payment Africa - Drivers of eCommerce Adoption Across Africa (Part 2)

Continued from Part 1 eCommerce across Africa is booming with the advent of global eCommerce companies expanding to the fast growing African continent combined with the internal growth as a result  of increased literacy, techability, disposable income, mobile phone penetration and connectivity.   Paymentability - the ability to get paid online can vary across different territories.  Generally “mobile monies”, although asynchronous w...
Read More

07 Aug Online Payment Africa - Drivers of eCommerce Adoption Across Africa (Part 1)

eCommerce across Africa is booming with the advent of global eCommerce companies expanding to the fast growing African continent combined with the internal growth as a result  of increased literacy, techability, disposable income, mobile phone penetration and connectivity.   Key drivers of eCommerce readiness could be the following: Smartphone penetration - Currently mobile money was designed with the simplicity of USSD and feature phones in mind so...
Read More

06 Aug eCommerce and Payment Across Sub-Saharan Africa - Kenya, Nigeria, South Africa

eCommerce is growing rapidly across Sub-Saharan Africa spurred on by rising incomes, improved connectivity, smartphone penetration and higher literacy levels.   Sharing eCommerce economy companies like Uber and AirBnb are already expanding rapidly across the continent.  Logistics companies like DHL and UPS are making logistics and product delivery more effective and cost effective.  A fast growing area is Nigeria’s consumption of digitall...
Read More

05 Aug All about M-Pesa the most Successful Mobile Payment System in the World

M-Pesa was started as a project of the CEO of Safaricom with a grant from the Department for International Development in the UK to better serve the unbanked.  It had to work on a feature phone for eg using USSD, not the "smart" smart phone technology of these days. It was developed to help remote workers in urban areas to send money back to their families at home. This was too costly to do via the banking infrastructure which also didn’t have enough cov...
Read More

04 Aug Digital Payments Going to Transform African eCommerce Payments?

Are Crypto Currencies, Digital Currencies, Virtual currencies going to disrupt online payment for eCommerce by multinational ecommerce companies across Africa anytime soon.  At the time of writing this I am currently in full swing with my Msc in Digital Currency thesis “The Future of Online Payments Across Africa”. The focus on online payment for eCommerce in Sub-Saharan Africa and how traditional payments, and new digital currencies, decentralisati...
Read More