A new survey by RegTech Africa and Agpaytech reveals a major shift towards digital payments across Africa, with over 90% of respondents expressing a preference for electronic transactions over cash.
The research titled – “African Digital Payment Systems and Consumers’ Experience in 2023” provides insights into Africa’s rapidly evolving payment landscape. Key findings show that 76% want a unified payment platform to consolidate their various payment accounts. 73.5% use mobile banking apps, with 85.5% leveraging them for transfers and payments. This reduces branch dependence. The top digital payment systems used are mobile money, cards, bank transfers and QR codes. Leading payment activities are bill payments, peer-to-peer transfers, retail purchases and school fees.
Read the original article here: https://www.africa-newsroom.com/press/revolutionizing-africas-digital-payment-landscape-regtech-africa-and-agpaytech-unveil-groundbreaking-research?lang=en