Visa, Mastercard Need a Slice of Africa’s Cellular Cash

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

International cost giants, together with Mastercard and Visa, are pouring billions of {dollars} into African firms which have powered a pointy growth 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 comparable to Uber Applied sciences, Netflix or Estée Lauder with out counting on bank cards or financial institution accounts.