The Rise of Mobile Payments in Africa, 2019
This IDC market perspective provides an overview of the mobile payment market in Africa. It differentiates between mobile payments and mobile money. It determines the current market landscape for mobile payments in Africa and how the market has evolved compared with other digital wallets (mobile money). The document provides a country analysis for the top mobile payment markets in Africa — South Africa, Egypt, and Nigeria — and the drivers and inhibitors of mobile payments on the continent."Despite the hype about mobile payments in Africa, when Apple Pay, Samsung Pay, and Huawei Pay launched on the continent, consumers did not flock to the technology in the way that was originally projected. While mobile money has done very well in Africa, mobile payments are only being supported on flagship devices; hence, they have not yet gained traction in Africa. However, vendors, finance institutions, and payment processors are all rising to the challenge, and the future for mobile payments in Africa looks bright." — Research Analyst Arnold Ponela, IDC South Africa
Please Note: Extended description available upon request.
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