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USSD Dominates Digital Payments in Africa Despite Growing Alternatives 💸📲

USSD Dominates Digital Payments in Africa Despite Growing Alternatives 💸📲

#finance
#economy
#finance
#payments
Embracing digital payments in Africa sees USSD transactions reigning supreme at 70%, overcoming challenges like smartphone accessibility. Ghana and Kenya favor USSD in their mobile money systems, aligning with high mobile money account percentages. While alternative channels emerge, the evolution of diverse payment methods showcases the continent's dynamic financial services landscape.

Key Points:

- USSD transactions contribute 70% to instant payment channels in Africa.

- Mobile money systems in Ghana and Kenya prefer USSD, with 60% and 69% mobile money account penetration, respectively.

- QR codes gain acceptance, but USSD's simplicity remains advantageous despite cited challenges.


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