Why Mobile money is crucial to the growth of betting in Africa
It is not a secret that Africa is the global leader when it comes to adoption and usage of mobile wallets. The continent has over 600 million registered mobile money accounts with over 80 million active every three months. The most prominent example of a mobile wallet is Kenya’s famous M-Pesa. Today, over 70% of adults in Kenya own an M-Pesa account and the transaction volume on the system is roughly up to 50% of Kenya’s GDP. While Kenya has been incredibly successful with its mobile payment platform, similar programs have not taken off in other large markets such as Cameroon, Ghana and Nigeria.
Betting in Africa is growing faster than any other part of the world. The industry in Nigeria alone is now valued at over $40 billion according to http://venturesafrica.com/gambling-in-africa-is-this-prospering-enterprise-worth-the-addiction-cost/ More and more businesses are tapping into the modes of payment the African market are accustomed to paying with.
Since Africans prefer mobile money as the payment option, it is relevant every business extending to Africa. Due to the above remarkable development in the financial sector hence making the betting business in Africa thrive as its simplified through the following benefits of mobile money
1. Customer convenience
It should be noted wherever is betting, there is mobile money making easy for whoever does not want to be seen on the floor of betting parlor have the pleasure to bet and receive payments on their phones. One bettor remarked: “with my mobile money service, I can place a bet and receive payment in the comfort of my living room or my workplace”
2. Cuts on operational costs.
Through the a single integration with Dusupay, betting companies can cut upto half of their operational costs as there would not need to set up branches meaning no costs on employee payments hence creating more income for the business to invest.
3 .Removes border barriers
Africa is a market segmented into various different markets due the different border policies hence creating a big gap between the different possible betting markets.luckly Dusupay is has positioned itself to serve betting companies to the best of potential through acting as a bridge across all borders as it enables betting companies to operate across borders without even knowing