The recent article by the Wall Street Journal points out a startling cool new fact, that a LOT of Africans are sending money, via their mobile phones, across countries in Africa.
Of course, a new tech startup is helping to make this process easier and cheaper than having to send the money via standard and aging means. The new startup is also charging less for processing than the old guard of payment processing, helping Africans save more money when they send money across countries to relatives and such.
I can only imagine the day when Apple gets in on this, because we are talking about more than 50 million africans that are currently using this system. Many millions more are expected to get online in the upcoming few years. That spells millions of dollars in processing fee money that Apple can obtain if their new processing software gets online.
It’s currently in the works and plans to be a paypal competitor, from my understanding, plus it’ll allow for iPhone users to instantly transfer money from iPhone user to iPhone user, without an intermediate, I suppose it’ll work almost like Apple airdrop does for photos and other stuff.
Jack the Dreamer, over and out!