Since the advent of the mobile phone a lot has happened in terms of making
life easy for consumers. Initially the mobile phone was used only for making
and receiving calls. At the turn of the century however the mobile phone has revolutionized a lot and made life easy for millions of consumers. Mobile
payments and merchant accounts settlement is the craze now. With a big percentage of consumers owning mobile
phones the divide between merchants and consumers has been bridged. Mobile is
the easiest and most reliable form of payment to any connected merchant.
Safaricom, Kenya’s top mobile network operator has recently
g
Safaricom powered 22.5 Million dollars worth of transactions. With
32,000 merchants doing an average of 10 dollars worth of transactions on its
ecosystem and millions of mobile payments, Safaricom is unarguably the biggest
force to reckon with in the region. With 19.5 million users Mpesa offers the
leading form of cashless payments second only to cards payments in Africa.
Solo payments a company that offers kiosks for
merchants to receive their payments also has an aggressive campaign to drive
merchants payments solutions in Africa. Although it is not a mobile form of
payment solution it has an ambitious plan of acquiring multiple merchants onto
its ecosystem. Currently one can pay for one of the major pay tv and purchase
airtime in addition to buying electricity tokens. If solo get intergrated with
Safaricom’s MPESA then they will have exposed themselves to 19.5 million mobile
money users and that will drive usage for them. However mobile still remains
the most potent form of payment since mobile is closest to users than anything
else
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