Online and mobile payments are taking off in Africa as a combination of improved internet access, advanced financial systems and widespread mobile penetration help spur demand for services. “For the last decade, the ability to pay online, north of South Africa, has been difficult for a number of reasons – but it’s rapidly improving and that creates significant opportunities,” says Peter Stenslunde, Wirecard South Africa Executive Director. He says e-commerce and online credit card payments are high-growth industries in Africa and mobile wallet technology and mobile money even more so. You can then use your phone to buy value-added services like electricity and pay various bills at those merchants who accept mobile wallet payments. “We expect to make further acquisitions in South Africa, as well as eastern Africa and western Africa in the next six to 12 months,” concludes Stenslunde.

Source: The North Africa Journal August 07, 2018 11:03 UTC