Transaction volume of digital payment platforms in Africa 2019
In the financial year 2018/2019, M-Pesa was the leading digital payment platform in Africa. In the same year, M-Pesa counted 11 billion transactions, which was more than card payments with African cards and PayPal transactions. M-Pesa is a mobile money service launched by Vodafone. As of 2020, M-Pesa operated in seven countries across Africa. Mobile money allows a customer to receive, store, and spend money using a mobile phone. The service can be provided by banks, mobile money operators (MNOs), telecom companies, payment service providers, or similar.
