Digital payments can accelerate value for African trade
Focus should fall on cross-border transactions and interoperability to create opportunities
The payments landscape in Sub-Saharan Africa should be examined to understand the role and potential of digital payments in enabling trade on the continent. Two areas can accelerate value for trade in the region: interoperability and cross-border transactions.
Adoption of digital payments has increased in the past 12 months. Rapid change was experienced during the pandemic, when consumers stayed at home due to various lockdown restrictions and merchants were challenged to find new ways of operating. According to the Visa Covid-19 Cemea Impact Tracker, contactless payments and e-commerce shopping grew exponentially, with merchants and consumers showing sustained preference for digital payments. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.