AFRICA MOBILE PAYMENT MARKET 2019-2027

ICT | Media Software & Services

AFRICA MOBILE PAYMENT MARKET 2019-2027

Market By Medium, Type, Application And Geography | Forecast 2019-2027

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The Triton Market Research report on the Africa mobile payment market states that the market is expected to grow in terms of revenue with a CAGR of 25.07% during the forecast period 2019 to 2027.

The countries that have been considered for the report on the African mobile payment market are:

•    Kenya

•    Tanzania

•    Zimbabwe

•    South Africa

•    Nigeria

•    Rest of Africa

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The African economy faces significant barriers for growth, like the lack of infrastructure, cost and distance. People have been reported to have mobile money accounts more than bank accounts in at least nine African countries. Although mobile phones were not invented in Africa, Africans did invent a new way of using mobile phones, and today, the country leads the whole world by adopting mobile payment technology for financial transactions.

The idea of mobile payment systems was born in Kenya, and the country is unlikely the leader in the mobile payment market. The drivers of mobile payment services in Kenya is primarily driven by the strong latent demand for domestic remittances in the country, the poor quality of existing financial services, the support of regulators in providing licenses and the dominance of mobile operators and low airtime commissions. Zimbabwe is one of the key markets for mobile payments, where mobile phones are used extensively for remittance and for person-to-person (P2P) and business-to-business (B2B) transactions.

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Table of Content

1.    MOBILE PAYMENT MARKET - SUMMARY

2.    INDUSTRY OUTLOOK

2.1. MARKET DEFINITION

2.2. KEY INSIGHTS

2.2.1.   MOBILE PERSON-TO-PERSON TRANSFER (P2P) DOMINATES THE GLOBAL MOBILE PAYMENT MARKET BY TYPE OF PAYMENT

2.2.2.   CONTACTLESS MEDIUM FOR MOBILE PAYMENT TO GROW AT SIGNIFICANT RATE

2.2.3.   RETAIL INDUSTRY SHOWS A LARGE DEMAND IN THE MOBILE PAYMENT MARKET

2.3. EVOLUTION & TRANSITION OF MOBILE PAYMENT

2.4. PORTER’S FIVE FORCE ANALYSIS

2.5. MARKET ATTRACTIVENESS MATRIX

2.6. VENDOR SCORECARD

2.7. INDUSTRY PLAYER POSITIONING

2.8. KEY MARKET STRATEGIES

2.9. MARKET DRIVERS

2.9.1.   GROWTH IN E-COMMERCE

2.9.2.   INORGANIC GROWTH VIA MERGERS AND ACQUISITIONS

2.9.3.   MOBILE PAYMENT IS BEING PREFERRED OVER TRADITIONAL BANKING METHODS

2.9.4.   MOBILE PAYMENTS BEING ACCEPTED BY SMALL MERCHANTS AND BUSINESSES

2.9.5.   TECHNOLOGICAL ADVANCEMENT

2.9.6.   UNBANKED POPULATION OPTING FOR EXTENSIVE USE OF MOBILE PAYMENT

2.10.            MARKET RESTRAINTS

2.10.1.                SECURITY CONCERN

2.10.2.                INTEROPERABILITY IS A KEY CONCERN

2.10.3.                SPYWARE AND MALWARE ATTACKS MAY SLOW DOWN THE MARKET

2.11.            MARKET OPPORTUNITIES

2.11.1.                EMPHASIS ON USER-CONVENIENCE GIVING RISE TO ADOPTION OF MOBILE PAYMENT SYSTEMS

2.11.2.                ENTRY OF BIG PLAYERS IN MOBILE PAYMENT MARKET

2.11.3.                GROWING SMART CITY PROJECTS

2.11.4.                INTRODUCTION OF MORE USER-FRIENDLY TECHNOLOGIES

2.11.5.                LIMITATIONS ON CASH TRANSACTION

2.11.6.                UNBANKED GEOGRAPHIES ARE THE OPPORTUNITY MARKETS

2.12.            MARKET CHALLENGES

2.12.1.                ADDRESSING THE COMPLEXITIES IS A CONCERN

2.12.2.                HUGE CAPITAL REQUIREMENT

2.12.3.                LACK OF TECHNOLOGICAL STANDARDS 

2.12.4.                LATE ARRIVAL SCENARIO AND LACK OF INDUSTRY STANDARD

2.12.5.                MOBILE PAYMENTS NEED TO CREATE SPACE FOR LONG-TERM GROWTH

2.12.6.                NEW ADDITIONS TO THE TECHNOLOGY AND UNCLEAR RULES CONFUSE THE MARKET PLAYERS AND CUSTOMERS

2.12.7.                RELUCTANCE TO SWITCH TO NEW TECHNOLOGY

3.    MOBILE PAYMENT MARKET OUTLOOK - BY MEDIUM

3.1. SMS

3.2. INTERNET

3.3. CONTACTLESS

3.4. USSD

4.    MOBILE PAYMENT MARKET OUTLOOK - BY TYPE

4.1. MOBILE PERSON-TO-PERSON TRANSFER (P2P)

4.2. MOBILE COMMERCE (POS)

4.3. PREPAID MOBILE WALLET

4.4. IN-APP BILLING

4.5. CARRIER BILLING

4.6. CLOSED LOOP PAYMENTS

5.    MOBILE PAYMENT MARKET OUTLOOK - BY APPLICATION

5.1. HEALTHCARE

5.2. RETAIL

5.3. ENERGY & UTILITIES

5.4. HOSPITALITY & TRANSPORTATION

5.5. ENTERTAINMENT

5.6. OTHER APPLICATIONS

6.    MOBILE PAYMENT MARKET - AFRICA 

 6.1.   KENYA

 6.2.   TANZANIA

 6.3.   ZIMBABWE

 6.4.   SOUTH AFRICA

 6.5.   NIGERIA

 6.6.   REST OF AFRICA

7.    COMPETITIVE LANDSCAPE

7.1. APPLE, INC.

7.2. ALIPAY

7.3. AIRTEL MONEY

7.4. BOKU

7.5. BANK OF AMERICA

7.6. BANCO BILBAO VIZCAYA ARGENTARIA WALLET

7.7. BEIJING QIANDAIBAO PAYMENT TECHNOLOGY, LTD.

7.8. CHINA UNIONPAY

7.9. MERCHANT CUSTOMER EXCHANGE

7.10.            M-PESA

7.11.            DWOLLA CORP.

7.12.            G-XCHANGE

7.13.            GOOGLE

7.14.            IZETTLE

7.15.            INTUIT PAY

7.16.            MASTERCARD

7.17.            SQUARE, INC.

7.18.            TENPAY TECHNOLOGY, LTD.

7.19.            THE WESTERN UNION COMPANY

7.20.            WE PAY, INC.

7.21.            YEEPAY

7.22.            99BILL CORPORATION

7.23.            SOFTCARD

7.24.            PAYTM

7.25.            PAYPAL

7.26.            PAYMENTWALL

7.27.            OBOPAY, INC.

8.    METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

List of table

TABLE 1. MARKET ATTRACTIVENESS MATRIX FOR MOBILE PAYMENT MARKET   

TABLE 2. VENDOR SCORECARD OF MOBILE PAYMENT MARKET        

TABLE 3. KEY STRATEGIC DEVELOPMENTS IN MOBILE PAYMENT MARKET

TABLE 4. AFRICA MOBILE PAYMENT MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)

TABLE 5. AFRICA MOBILE PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ MILLION)           

TABLE 6. AFRICA MOBILE PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ MILLION)     

TABLE 7. AFRICA MOBILE PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

List of Figures

FIGURE 1: AFRICA MOBILE PAYMENT MARKET, BY TYPE, 2018 & 2027 (IN %)

FIGURE 2 EVOLUTION OF PAYMENT SYSTEM        

FIGURE 3: MOBILE P2P TRANSFER MARKET, 2019-2027 (IN $ BILLION)         

FIGURE 4: CONTACTLESS MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)  

FIGURE 5: RETAIL INDUSTRY MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)        

FIGURE 6: PORTER’S FIVE FORCE ANALYSIS        

FIGURE 7: INDUSTRY PLAYER POSITIONING OF TOP PLAYERS IN 2018 (%)

FIGURE 8 AFRICA URBAN POPULATION, 2016-2050 (%)  

FIGURE 9: AFRICA MOBILE PAYMENT MARKET, BY SMS, 2019-2027 (IN $ BILLION)           

FIGURE 10: AFRICA MOBILE PAYMENT MARKET, BY INTERNET, 2019-2027 (IN $ BILLION)           

FIGURE 11: AFRICA MOBILE PAYMENT MARKET, BY CONTACTLESS, 2019-2027 (IN $ BILLION)       

FIGURE 12: AFRICA MOBILE PAYMENT MARKET, BY USSD, 2019-2027 (IN $ BILLION)      

FIGURE 13: AFRICA MOBILE PAYMENT MARKET, BY MOBILE PERSON-TO-PERSON TRANSFER (P2P), 2019-2027 (IN $ BILLION) 

FIGURE 14: AFRICA MOBILE PAYMENT MARKET, BY M-COMMERCE (POS), 2019-2027 (IN $ BILLION)

FIGURE 15: AFRICA MOBILE PAYMENT MARKET, BY PREPAID MOBILE WALLET, 2019-2027 (IN $ BILLION)         

FIGURE 16: AFRICA MOBILE PAYMENT MARKET, BY IN-APP BILLING, 2019-2027 (IN $ BILLION)       

FIGURE 17: AFRICA MOBILE PAYMENT MARKET, BY CARRIER BILLING, 2019-2027 (IN $ BILLION)       

FIGURE 18: AFRICA MOBILE PAYMENT MARKET, BY CLOSED-LOOP PAYMENTS, 2019-2027 (IN $ BILLION)         

FIGURE 19: AFRICA MOBILE PAYMENT MARKET, BY APPLICATION, 2018 & 2027 (IN %)   

FIGURE 20: AFRICA MOBILE PAYMENT MARKET, BY HEALTHCARE, 2019-2027 (IN $ BILLION)           

FIGURE 21: AFRICA MOBILE PAYMENT MARKET, BY RETAIL, 2019-2027 (IN $ BILLION)   

FIGURE 22: AFRICA MOBILE PAYMENT MARKET, BY ENERGY & UTILITIES, 2019-2027 (IN $ BILLION)

FIGURE 23: AFRICA MOBILE PAYMENT MARKET, BY HOSPITALITY AND TRANSPORTATION, 2019-2027 (IN $ BILLION) 

FIGURE 24: AFRICA MOBILE PAYMENT MARKET, BY ENTERTAINMENT, 2019-2027 (IN $ BILLION)       

FIGURE 25: AFRICA MOBILE PAYMENT MARKET, BY OTHER APPLICATIONS, 2019-2027 (IN $ BILLION)

FIGURE 26: AFRICA MOBILE PAYMENT MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)           

FIGURE 27: KENYA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)   

FIGURE 28: TANZANIA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 29: ZIMBABWE MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 30: SOUTH AFRICA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)           

FIGURE 31: NIGERIA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 32: REST OF AFRICA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)

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