The world is moving towards a global economy that deals less with paper and more digitalized data. Electronic payments have made substantial inroads among consumers in some developed countries, and many of these markets have been building the infrastructure for cashless transactions for a long time. However, even in the most cashless developed countries, such as the Netherlands, cash is still used in 40% of all consumer transactions.
Trends in Africa
Africa is already leading the world in the use of mobile money, and its growth is accelerating with Internet penetration rising rapidly through mobile technology. In countries such as Kenya and Uganda, mobile-money accounts have become much more widespread than bank accounts.…Continue reading