Mobile payments in 5 countries in Africa and Middle East in 2020, with 2025 forecast
The use of mobile money application M-Pesa, for instance, consistently increased for several years in a row. Indeed, the African continent is viewed as one of the main areas for mobile payment growth as payments run by mobile operators such as Vodafone are viewed as a viable alternative for a population that does not have access to banking services.
Mobile payments in Saudi Arabia or the UAE were much smaller in size than, for example, in Kenya in 2020, but are said to increase somewhat faster by 2025. That said, neither country from the Middle East is expected to overtake any of the three African countries listed by the source in terms of mobile payment transaction volume. Part of this, is the head start Kenya especially has: