{"id":31159,"date":"2020-01-02T12:12:37","date_gmt":"2020-01-02T12:12:37","guid":{"rendered":"https:\/\/www.intelligentcio.com\/africa\/?p=31159"},"modified":"2020-01-10T08:13:58","modified_gmt":"2020-01-10T08:13:58","slug":"report-identifies-inflection-point-for-payment-acceptance-in-africa","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/africa\/2020\/01\/02\/report-identifies-inflection-point-for-payment-acceptance-in-africa\/","title":{"rendered":"Report identifies inflection point for payment acceptance in Africa"},"content":{"rendered":"\n<figure class=\"wp-block-table alignleft\"><table class=\"\"><tbody><tr><td> Network International, a leading enabler of digital  commerce across the Middle East and Africa, has published research   highlighting the key trends putting Payment Acceptance at an inflection point  of growth in Africa. The report further builds on its findings by outlining   strategic opportunities for banks in the region.<br>   <br>The White Paper &#8211; <em>Payment Acceptance in Africa &#8211;<\/em> has been produced as   part of Network International\u2019s work in supporting financial inclusion. The pace of growth in the adoption of digital payments and bank accounts provides financial services providers with brand new opportunities to roll out new fintech solutions, credit facilities for SMEs and retail banking services to   the world\u2019s fast-growing \u2018banked\u2019 population.<br>   <br>The report details the broad pillars of growth across bank accounts (now held by 41% of adults), Point of Sale devices (up 26% pa) and transactions per card (up 61% pa) according to Network\u2019s research of nine African markets. The report also highlights the untapped opportunity, with transactions currently   concentrated on the travel and entertainment sector and within major cities.<br>   <br> Andrew Key, Managing Director &#8211; Africa, Network  International, said: \u201cThe Network International White Paper shows that the   amount of money processed through Point of Sale devices environments remains  only 5% of GDP in Africa, compared to over 30% in some countries. Closing   this gap offers Africa significant economic development potential. <br><br> \u201cOur research also shows a growing untapped opportunity   through the rapidly increasing bankability of Africa\u2019s population stemming  partly from the region\u2019s digitally engaged customer base and fintech-hungry  businesses, in addition to falling hardware costs, sophisticated pricing and  more flexible technologies.\u201d<br>  <br> The report indicates that Africa\u2019s banking sector is now at a crossroads \u2013 a  moment in history where financial services has an opportunity to transform  how they interact with the unbanked population, how they engage with SMEs and  how they can support small-scale businesses in high-employment sectors like   agriculture where there are enormous opportunities.<br> <br>      <strong>&nbsp;<\/strong>   &nbsp;   <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Network International, a leading enabler of digital commerce across the Middle East and Africa, has published research highlighting the key trends putting Payment Acceptance at an inflection point of growth in Africa. The report further builds on its findings by outlining strategic opportunities for banks in the region. The White Paper &#8211; Payment Acceptance in [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":31165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[565,275,399,54,262],"tags":[12152,173,12151],"class_list":["post-31159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-finance","category-intelligent-technology-newsletter","category-more-news","category-research","category-used","tag-andrew-key","tag-network-international","tag-payment-acceptance"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/31159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/comments?post=31159"}],"version-history":[{"count":8,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/31159\/revisions"}],"predecessor-version":[{"id":31182,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/31159\/revisions\/31182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media\/31165"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media?parent=31159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/categories?post=31159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/tags?post=31159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}