Fortumo launches payments in Cote d’Ivoire, Ethiopia & Senegal

Money Transfer

Mobile payments firm Fortumo has launched direct carrier billing in 3 new African markets.

More than 52 million people in Cote d’Ivoire, Ethiopia and Senegal can now make seamless digital payments and get the purchases charged to their mobile phone bill. App stores, digital merchants and game developers using Fortumo can now significantly increase their online payments reach in some of the most underbanked countries of the world.

In Cote d’Ivoire, Ethiopia and Senegal the percentage of bank card owners is only 2%. At the same time, carrier billing is available to any prepaid or postpaid mobile account owner. This means merchants using carrier billing can reach a paying audience twenty times bigger than with traditional payment methods.

“Quick economic growth coupled with access to low-cost smartphones has positioned Africa as an exciting region for digital content merchants. At the same time, it has been difficult to accept payments from users as the continent is very diverse and fragmented. Carrier billing solves this challenge by allowing merchants to integrate one pervasive payment method which is accessible to any mobile phone owner regardless of their location,” said Gerri Kodres, Chief Business Officer at Fortumo.

“While traditional bank-based payments do not generally work in Africa, we are looking at collaborating with virtual credit card providers and digital wallet merchants to enable them expansion into African markets through topping up these accounts via carrier billing,” added Kodres

Fortumo’s direct carrier billing platform allows merchants to quickly scale up their carrier billing offering by integrating payments once and launching them in all countries covered by Fortumo simultaneously. Beside the technical platform, Fortumo also helps merchants with business support services (such as end-user support) and negotiating new mobile operator partnerships for connectivity and promotions.
Source: Developing Telecoms 5 May 2016