Article
Try to imagine, if you will, a cashless economy where there’s no paper, no plastic, no coins — just mobile banking. Far-fetched? Now stretch your imagination a little. Imagine a virtual currency where pre-paid airtime is traded across national borders to exchange goods and services, cancelling conventional currency exchange and the associated costs from the equation as a prerequisite; where at the touch of a button, value can be transferred from your bank, stored as airtime in your cellphone and used to purchase, say, a can of Coke from your local street vendor. This comprehensive article looks at a wide range of mobile-related payment methods and systems, and addresses issues and potential for their adoption across the African continent.