• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Kenya ranks ahead of South Africa, Nigeria in the use of digital payments

4 years ago
in Business, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
74
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Kenya ranks ahead of South Africa, Nigeria in the use of digital payments

The survey, which global digital payments solution provider Visa published, showed that an estimated (71 per cent) of businesses in Kenya use cash as a means of payment, compared to higher use of cash by businesses in South Africa (91per cent) and Nigeria (94 per cent).

According to the study, the less use of cash among Kenyan businesses is reflected in the high preference for mobile wallets (56 per cent) compared to Nigeria (14 per cent) and South Africa (7 per cent).

The study highlighted that high usage of digital payments in Kenya was concentrated in food, entertainment, tours and accommodation, agriculture, transport and delivery, and professional services sectors of the economy.

“Cash is the highest used option across all markets though relatively lower in Kenya. Mobile wallet payments are highest in usage as well as preference in Kenya. Usage of a personal account for business payment is also prevalent in Kenya. Bank transfer is widely used in Nigeria,” the survey stated.

Read: President’s home region, other regions strongly oppose implementation of E-Levy – Survey reveals

It added that 69 per cent of Kenyan businesses said digital payments (mobile money transfer, card payment, contactless cards, and bank transfer) have positively impacted their business, as they can easily track expenses and revenues, enabling fast transactions and cutting on errors in change.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

The adoption of mobile money payments in Kenya has been rising following the Central Bank’s push for the service in recent times. Last year, during the pandemic, the Kenyan government released a directive through the central bank, instructing commercial banks and payment service providers to stop charges on all transfers from mobile money wallets and bank accounts.

According to Visa, the impact of introducing digital payments for businesses is positive, but the study shows room for improvement in adoption. The survey concluded that 83 per cent of respondents that adopted digital payments experienced an improvement in revenue. At the same time, 55 per cent of business owners plan to increase investment in new technologies.

Source: businessinsiderafrica
Via: norvanreports
Tags: bank transfercard paymentcontactless cardsCOVID-19 pandemicKenya ranks ahead of South Africamobile money transferNigeriaNigeria in the use of digital payments
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.