The global daily value of mobile money transactions in 2022 surpassed forecasts to hit $3.45 trillion, according to a latest mobile money industry report, while in East Africa, the number of transactions grew by 18%. But the biting cost of living didn’t drive uptake of mobile money services only. BNPL platforms recorded transactions worth $112 billion last year, which is expected to grow to $437 billion over the next five years. The BNPL payment industry in the MENA has recorded strong growth over the last four quarters, supported by increased e-commerce penetration. Medium to long term growth story of BNPL industry in the MENA remains strong, with BNPL payment adoption expected to grow steadily over the forecast period, recording a CAGR of 17.8% during 2023-2028.

Source: The North Africa Journal May 02, 2023 20:41 UTC