Merchant solutions could be the answer to mobile money issues | IT News Africa- Africa’s Technology News Leader

The mobile money agency system has made huge progress in increasing access to financial services and reducing the cost of transactions, though in terms of serving the “last mile” – those wishing to make single dollar transactions – there is still much to be done. But the answer may be staring us in the face, says Vahid Monadjem, CEO of Nomanini.

In disrupting the traditional financial system, with its reliance on formal tellers and ATMs, mobile money and its agency model have taken off across Africa. According to Frost & Sullivan, the value of mobile money transactions in Sub-Saharan Africa reached USD 656 million in 2014, and may more than double to USD 1.3 billion in the next four years.

Source: Merchant solutions could be the answer to mobile money issues | IT News Africa- Africa’s Technology News Leader