TerraPay’s New Research sheds light into the rise of digital wallet-based apps in Africa | The Guardian Nigeria News

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Willie Kanyeki, Regional Director: East and Southern Africa at Terra Payment Services

JOHANNESBURG, South Africa, 24th February 2022 -/African Media Agency(AMA)/- Africa and Asia are the home of mobile money, where the shift to digital wallets is in full swing in countries with high smartphone penetration. A recent report points out the extent to which African and Asian consumers are embracing digital payments.

This is the finding of a white paper published by TerraPay with IBS, showcasing the trends and insights specific to the African and Asian regions. The report discusses how Africa is the “enduring epicenter of mobile money”, in 2020 the continent added more than 60 million registered accounts alone vis à vis one billion accounts that were registered globally. This was driven by solid growth in West Africa (21 million new accounts), Central Africa (six million) and East Africa (22 million).

t discusses the rise of digital wallets and how mobile wallets have successfully…



Source: Guardian Newspaper