Mobile Wallets in AsiaĪsia is the epicenter for this technology’s adoption. As their user base increased, they grew their agent network at the same pace.
#EWALLET COMPANIES DRIVER#
A major driver of their popularity is their customer service. Most of its customers are concentrated in Kenya, but it boasts over 41.5 million active users in total. While it’s only available in seven countries in Africa, M-Pesa still reaches a massive amount of the continent’s citizens. Launched in 2007 by Vodafone Group and Safaricom, M-Pesa has active agent operations across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique, and Tanzania. It’s also available in 18 countries on the continent, so it’s one of MTN’s biggest competitors in many places. With about 45 million users, it’s only slightly less widely used than MTN. Orange MoneyĪfter its initial rollout in 2008, Orange Money from Orange Group quickly became one of the most popular mobile wallets in Africa. It offers services in Rwanda, South Africa, the Republic of Congo and at least 22 other countries in Africa and the Middle East.
![ewallet companies ewallet companies](https://www.middleeastbusiness.org/images/posts/2020-07-29-etisalats-ewallet-expands-into-utility-bill-payments.jpg)
With 46 million users throughout the world, MTN stands out among other mobile wallets in Africa for name recognition and adoption.
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While the popularity of the following companies varies by country, each of them helps to provide financial services that many citizens would not otherwise have. To have a mobile money account, all one needs is a mobile phone-no bank account required. Mobile money technology has enabled the unbanked to access financial services more readily. In fact, around 57 percent of individuals calling the continent home had no form of bank account in 2018.
![ewallet companies ewallet companies](https://gopos.my/wp-content/uploads/all-ewallets.png)
Many people living in Africa don’t have access to traditional banking services. To stimulate the economy, many African governments have reduced barriers to encourage more people to sign up for mobile wallets. International Money Transfers to Mobile Wallets Mobile Money in AfricaĪfrica has the world’s largest mobile money market, and the COVID-19 pandemic only accelerated its growth.