Africa's B2B payments sector, though seemingly saturated, is still ripe for growth. The continent's diverse payment landscape, marked by low card penetration and a preference for local methods, presents challenges. Enter alternative payment methods (APMs), filling gaps and catering to diverse preferences. Mobile money, bank transfers, and digital wallets are gaining prominence, with Africa hosting 70% of global mobile money users. APMs not only facilitate instant payments but also empower SMEs, fuel economic growth, and contribute to financial inclusion. As APMs rise, they pave the way for innovation, offering businesses a chance to align with local preferences and lead in the evolving market. The future sees at least 70% of online transactions in Africa conducted through APMs, signaling a powerful shift in the continent's digital economy. 🚀📲💼

Read more on TechCabal