Retailers Are Driving East Africa’s Adoption of Digital Payments
- Average e-commerce basket values now bigger than point-of-sale
- African domestic payments to hit $40 billion by 2025: McKinsey
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Retailers such as grocers and department stores are driving the uptake of digital payments in East Africa, with buyers preferring to pay online instead of using physical debit or credit cards, according to payments provider Pesapal Ltd.
The typical e-commerce basket is about 5,242 Kenyan shillings ($36), while a basket settled using a point-of-sale terminal averages 5,117 shillings, according to Agosta Liko, founder and group chief executive officer of Nairobi-based Pesapal.