The majority of the rural population in Africa is still excluded from digital payment technologies (less than 6% are included according toUNCTAD) and this is despite the fact that the percentage of digital payments is growing every year. According to the world bankone of the main reasons for the high exclusion in Africa is the high cost of acquisition of necessary equipment for processing digital payments and as a result has made it impossible for rural communities to accept payments.
My solution will address this problem by providing a free and easy to use mobile EMV/Magnetic strip card readerthat can be connected and used with any low cost smart phone to process credit card payments as this is the main form of money that is used on the continent . Our free mobile EMV/Magnetic strip card readers will be distributed for free and will enable rural traders to accept card payments easily.
Comments