Browsing: Cashless transactions

In a report by GSMA released earlier this year, mobile money accounts grew to 1.2 billion with 43% of new users all from Africa.

Inferring from this growth rate in just one year, it’s clear that the market size for offline payments is significantly larger than online payments. In coming years, we’ll be focusing on this space even as we continue to grow in online payments.

In sub-Saharan Africa alone, there are 44 million micro, small and medium enterprises providing the majority of jobs effectively serving as the backbone of the economy in their countries.