Trends Shaping Mobile Payments in Africa
- Mobile digital payments have shifted from convenience to a core feature of Africa’s financial landscape.
- Contactless payments now account for over half of all card transactions in urban centers in South Africa.
- The pandemic served as a catalyst for the adoption of contactless payments, driven by health concerns.
The rapid evolution of mobile digital payments in Africa presents significant opportunities for businesses and consumers alike. However, it is essential to address the underlying infrastructure challenges to ensure that the benefits of these technologies reach all segments of the population, particularly in under-banked communities.
