AfricaCom explores mCommerce in Africa

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AfricaCom explores mCommerce in Africa --

Mon, 29 Sep 2014 13:41

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The emergence of mobile transaction and payment services in Africa has given way to major economic opportunities and is proving to be an ideal solution to the vast geographical challenges on the continent. AfricaCome, a communications conference and exhibition which takes place from 11 to 13 November at the Cape Town International Convention Centre (CTICC), will host a Mobile Money event for discussions and debates around this sector.

mCommerce encompasses the full spectrum of mobile payments, including mobile retail and mobile banking. Because companies operating in this sector are not considered as banks, which carry heavy infrastructure costs and overheads, they have been able to keep transactions costs reasonable and are able to adapt quicker to market conditions. With Africa still the world s fastest growing mobile phone market, it is no wonder that traditional banks across the continent are quickly developing their own mobile money solutions.

With innovative technology developers like TrustPay leading the way in settlement and remittance by integrating a multitude of traditional and non-traditional payment methods, both operators and banks are now in a position to take advantage of the growth in mobile marketing across the continent. Mobile marketing is not restricted to smartphone users and as a result, feature phone owners who are already used to mobile payment solutions for purchasing airtime and transferring money are now fully engaged in researching, buying and selling goods via their mobiles.

However, because the industry is evolving so rapidly, there are a number of developments that need to be addressed, regulated and taken account of. Now that the mCommerce and eCommerce sectors are reaching critical mass, it is going to be vital for all stakeholders and consumers to engage with one another so that all entities benefit and the sector continues to be sustainable

Topics at Mobile Money 2014 will include:

Assessing the m-money market drivers and barriers in Africa

Examining the various business models for mobile payments and mobile banking

Understanding the mobile money ecosystem and the role of the various stakeholders

How mobile money services fit within mobile operators strategies

Regulating the m-money market: challenges and developments

Technology developments and standardisation to deliver mobile money services

New developments in the mobile money transfer and international remittance market

Opportunities in contactless payments and NFC

Visit the AfricaCom website to register for this event.

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