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Cross-Border Mobile Money Trends

August 20, 2015

Cross-Border Mobile Money Trends

August 20, 2015

Mobile payments continue to grow in popularity as they facilitate business transactions

The establishment and growth of the East African Community (EAC) provided a foundation for cross-border payments and a boost to e-commerce in Africa, especially in the travel industry. It’s easier than ever to find and purchase a flight to Kampala, book a hotel in Stone Town, and reserve a rental car from Nairobi. With more flights, lower rates, and fewer border restrictions, Africans are exploring the continent in greater numbers.

While EAC member states don’t share a common currency, a Rwanda franc will spend just as well in Uganda or Burundi because cross-border payments facilitate consumer access to online shopping for goods and services in any neighbouring nation. Developing trends in mobile money will continue to increase intra-African travellers’ uptake on more flights to new destinations.

Cross-border mobile money

Direct Pay Online offers a complete turnkey cross-border mobile payments solution as they offer one platform that is directly integrated with multiple mobile money wallets. Payments can be processed under this common platform, and compatible hardware makes it relatively easy for customers to pay merchants across borders.

With our end to end Pan-African mobile payment solution, we connect our merchants to millions of customers throughout Africa. The solution is ideal for travellers booking and buying on the go, and mobile money overcomes the challenges of currency exchange and liquidity that can sometimes occur mid-travel.

Demand for mobile cross-border payment services is high in the region, owing to the popularity of mobile money wallets such as M-Pesa, Airtel Money, Tigo Pesa, Vodacom, MTN, and others.

Airlines taking off

The days of difficult air travel within Africa are rapidly becoming ancient history. Researchers predict economic growth of 58% in 2015, and as much as 50% of tourist traffic will consist of continental visitors.  A growing middle class is driving demand for more frequent and cheaper intra-African flights, and airlines are responding. Cross-border mobile money transactions make online travel booking even easier, as Direct Pay Online supports online flight reservation platforms.

Cross-border payments and eCommerce in Africa still have challenges ahead. However, mobile-enhanced payments are helping more people enjoy the benefits of being able to send money internationally.

Direct Pay Online is leading the online payments industry by being the only company in Africa that provides an end-to-end solution with a single connection to multiple mobile money wallets. It’s all about freedom for end-users and flexibility for the travel companies to get paid as they wish.

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