African SMEs benefit from improved digital payment solutions

This is a contributed piece by Soumaya Hamzaoui, chief product officer at RedCloud Technologies Recent research by MasterCard [PDF] has shown that cash still accounts for in excess of 90% of transactions in developing countries, while a new KPMG insights report [PDF] highlights how only 24% of adults in sub-Saharan Africa have an account at a formal financial institution. Two of the main underlying reasons for the general lack of access to financial services in many African countries are geographical inaccessibility and an insufficient banking infrastructure, particularly with regards to new digital channels for payment acceptance and financing... Read the full post here

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