Visa, Mastercard Desire a Slice of Africa’s Cell Cash

JOHANNESBURG—African fintech corporations have discovered artistic methods to assist the continent’s customers spend their cash. Conventional funds corporations need in.

International fee giants, together with Mastercard and Visa, are pouring billions of {dollars} into African corporations which have powered a pointy enlargement in e-commerce on the continent. Latest offers have centered on mobile-money operators, which permit customers to ship funds utilizing easy cellphones, and platforms that facilitate such funds for retailers equivalent to Uber Applied sciences, Netflix or Estée Lauder with out counting on bank cards or financial institution accounts.