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Fortumo expands into Algeria, Ghana and Tanzania

May 10, 2017 • Finance, Gadgets and Gaming, Top Stories

Mobile banking and finance concept

Mobile payments company, Fortumo expands African Service.

The mobile payments company Fortumo announced today that it has expanding its carrier billing services to 3 new African markets. More than 79 million mobile phone owners in Algeria, Ghana and Tanzania can now make payments for digital services.

“Africa’s digital ecosystem is quickly growing and we are seeing strong interest from international merchants who want to expand their activities there. While each day a large amount of new smartphone owners are coming online, collecting payments from these users has so far been a challenge. Our expansion in Africa gives locals better access to digital mobile services such as games, music, and video while helping merchants generate additional revenue from the region,” said Gerri Kodres, Chief Business Officer at Fortumo.

Fortumo services app stores including Google Play, digital media providers including Spotify, Sony, HOOQ, Gaana and gaming companies like EA Mobile, Gameloft and Kinguin with carrier billing, local market insights and facilitates relationships with mobile operators.

All three markets where Fortumo has launched have extremely low credit card penetration: Algeria at 6%, Ghana at 0.9% and Tanzania at 0.7%. This means while people can access online content, most of them are unable to make payments for paid features of these services.

Carrier billing solves this problem by allowing any mobile owner to make payments conveniently through their carrier and either deduct payments from their airtime balance or charge them to their monthly phone bill. Additional information on Africa’s digital ecosystem can be found from Fortumo’s recent market report.

In the Middle Eastern and African region, carrier billing through Fortumo is now available to more than 600 million people in 24 countries. Globally, over 3.5 billion people in 97 countries can make payments using their mobile phone with merchants who have integrated Fortumo.

 

Staff Writer


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