Financial services firm consulting firm, Deloitte has confirmed that Nigeria and Kenya are ripe for the use of mobile money having created a ripe environment for the use of near field communication (NFC) technology and other forms of mobile wallets which could be more widely accepted as payment systems compared to traditional ones such as credit cards.
The firm in research noted that the adoption of the alternative payment systems could not only further slow the growth of the use of credit cards but could also see the creation of a new market for NFC-enabled devices including point of sale terminals and mobile phones in the country.
Deloitte, in the research note that summarises expected trends in the technology, media and telecommunications industries globally this year, pointed that to the success of mobile banking and payments in emerging markets where many people have cell phones but few have credit cards or bank accounts as an opportunity for the growth the alternative payment systems.
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