ONLINE Africa is benefiting from the evolution of igaming payment. 8 months ago Iwo Bulski Post Views: 319 Africa’s quest for cashless economy gains massive momentum over the last decade, with a host of African countries are doing every means to promote cashless economy in its territory, has cashless economy will further bring transparency to governments transactions, reduce corruption in the continent which has been the bedrock of African struggles over the last two decades. These as limited the African growth to achieve its full potentials of becoming the leader in its own right, although, with digital channels (digital wallets, cryptocurrencies, mobile money service and other online payments methods are increasingly adopted in the Igaming markets. With a host of investors that have tapped into Africa lack of insufficient financial inclusion, unbanked masses and financial literacy have increasingly seen online, and mobile money channels take center stage in Africa. Although, these set of unbanked masses in which the majority of them now use mobile money services, and online channels. According to Geopoll, the service is becoming more popular particularly in the Eastern part of Africa in which out of the 300 million registered mobile money service account in Africa about half of are found in the Eastern part of the region. And while the majority of the masses which use these services are explicitly using it for “gambling” activities. According to a mobile payment solution company, Safaricom Company owned by M-Pesa says 25% of its customers use the service by bettors in the region. Indeed, the cashless gaming is gaining ground in Africa, and operators are having new challenges to overcome the combine local optimization and further markets expansion with a fast and secure remote payment strategy. Some recent reports are showing current international trends in terms of money circulation via the internet. Wordplay revealed that, globally, e-commerce is expected to surpass US$4.6 trillion globally by 2022, with 140 online payments method in use today. Both online and mobile channels will account for 68 per-cent of transaction volume in 2024; up from 63 per-cent in 2019. According to new study Digital International Money Transfer Key Trends, Player Innovation & Market Forecasts 2019-2024; from Juniper Research has found that global international digital money transfer transaction volume will reach 2billion by 2024 and Africa will account for 15% of the total volume, up from 1.1 billion in 2019. The study founded that this dominance is primarily due to the superior app-based experience available on mobile, rising interoperability of mobile money solutions and highly competitive pricing from app-based disruptors and affordable mobile phone in the continent. Article by Adeleye Awakan Associate/Editor www.gbc.ng Africa’s digital gaming news portal. For consultant, Africa gambling space, Bookmaker’s review, Content, thoughtful leadership article Africa gambling industry: feel free to reach me [email protected], Linkedin Adeleye Awakan. Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: igaming, Safaricom, SportPesa Continue Reading Previous Esports have the potentials to rival sports betting business in AfricaNext Bitcoin’s high volumes in Africa More Stories ONLINE WORLD NEWS UK Gambling Commission partners with Facebook 11 hours ago Szarlot HOT NEWS ONLINE Tips to Enhance Your Experience Gambling Online 12 hours ago Peter Situma EXPERTS ONLINE Popular payment methods for online casinos in Africa 1 day ago Peris Wambu HOT NEWS ONLINE The Next Normal of Punters in Africa iGaming Industry 3 days ago Adeleye Awakan ONLINE SOUTH AFRICA Online gambling and South Africa surges despite restrictions 4 days ago Samuel GAMES ONLINE African Legends 4 days ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.