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African Payments Markets, 2014

  • ID: 2885131
  • Report
  • July 2014
  • Region: Africa
  • 26 Pages
  • Mercator Advisory Group
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New Research Resets Perceptions On Growth Of Electronic Payments In Africa

FEATURED COMPANIES

  • BankservAfrica
  • EcoCash
  • First National Bank
  • iKaaz
  • Multicaixa
  • United Bank for Africa
  • MORE
When companies are looking at regions for overseas investment, Africa generally comes in last in terms of overall attractiveness. On the surface, it is easy to understand the payments industry's reluctance to invest heavily in Africa. But Africa is a continent filled with potential for e-payments and within the next three to five years, the global payments industry will increasingly look to Africa as a major source of future sustained e-payment growth.

Africa faces similar challenges to those of other world regions that have many developing economies, like improving financial inclusion and developing a wide network of e-payment acceptance. However, many markets across Africa have already made strides to overcome these hurdles and are enjoying robust growth. How rapidly the remaining markets are able to accomplish similar goals will determine whether the continent becomes a hub of e-payment growth and innovation internationally in the near and intermediate future.

This new report, African Payments Markets, 2014, provides an overview of the African payments landscape, with estimates on account ownership, payment card penetration, branch and ATM use, mobile payment use and the continent's e-commerce potential in the years to come. In addition, the report details recent and proposed payment technology and innovation developments across Africa.

“With a total population that exceeds 1 billion, Africa is home to approximately one-seventh of the global consumer base. However unlike other regions around the world, interest in developing Africa's electronic payment potential has been stunted, with the global payments industry focusing primarily on Asia and South America as major areas of investment. While this trend has begun to shift in recent years, the continent remains largely untapped, despite its significant potential. Although this potential will take a number of years to be realized, the size of Africa's electronic payment potential means that the region will inevitably become a major area of payment investment in the near future,” comments Tristan Hugo-Webb, Associate Director, primary author of the report.

Highlights of the report include:

- Overview of DDA account, debit card, and credit card penetration as well as branch, ATM, and mobile payment usage across selected markets in Africa

- An examination of emerging trends and developments across Africa in relation to payment card issuing, branch innovation, mobile payment adoption, among others.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • BankservAfrica
  • EcoCash
  • First National Bank
  • iKaaz
  • Multicaixa
  • United Bank for Africa
  • MORE
Executive Summary

Introduction

DDA Ownership Across Africa

Payment Card Penetration Across Africa
EMV Migration
National Payment Networks

Electronic Payment Use in Africa
Real-Time Payments

Branch Access in Africa
Branch Innovation

ATM Access in Africa

The Promise of Mobile
Mobile Payment Use
NFC in Africa

E-Commerce
Beyond E-Commerce

Conclusions
Endnotes
For more information about this report

Figures

Figure 1: DDA Ownership Across Africa, 2013E

Figure 2: Payment Card Penetration Across Africa, 2013E
Figure 3: Electronic Payment Use Across Africa, 2013E
Figure 4: Branch Penetration Across Africa, 2013E
Figure 5: Branch Patronage Across Africa: Cash Withdrawal by Teller, 2013E
Figure 6: ATM Penetration Across Africa, 2013E
Figure 7: ATM Patronage Across Africa: Cash Withdrawal by ATM, 2013E
Figure 8: Mobile Penetration Around the World, 2013E
Figure 9: Mobile Payment Use Across Africa, 2013E
Figure 10: E-Commerce Sales in Africa, 2013E–2018E
Note: Product cover images may vary from those shown
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- BankservAfrica
- EcoCash
- Ecobank
- Equity Bank
- First National Bank
- Grindrod Bank
- MasterCard
- Multicaixa
- Standard Bank
- United Bank for Africa
- Vodafone
- iKaaz
Note: Product cover images may vary from those shown
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