Thursday, February 20, 2014

Mobile Money:How It Can Impact Vastly On E-commerce In Ghana

Ghana has come along way in striving to be at par with the fast growing trends and market in the e-commerce world. Ghana is yet to bridge the gap in the cashless world we're living in. We are yet to tap into the fast growing momentum e-commerce has taken in the western worlds and how it has vastly affected the economy due to online retail. Sound finanacial infrastructure makes online retail possible. Several attempts have been made to bridge the gap, but they have not been successful. Many online retail websites in Ghana do not have the feature of paying via bank visa or mastercards.
Over ten years now, mobile phones and telecommunication operators have rapid grown in the Ghana. Every household has at least one mobile phone. The telecom operators have also made strides in aiming for a safe and secure cashless society through services such as the mobile money. This service allows the transfer of cash between parties, by transferring money into another party's mobile mobile account. The mobile money accounts can also be linked to one's bank account.
With this service been offered by these telecoms, I can see Ghana making a stride in the fast growing e-commerce world. The convenience and comfort from online retail will reap vast economic effects. Online retails websites can employ this service and allow consumers to order and pay by their money accounts. Everybody has a mobile phone now, but not all have credit or visa cards.
Mobile money will be the next big thing to put Ghana also in the light of online retail and its services.