Transport is an essential part of life, and a fundamental part of socio-economic interactions. In Africa, road transport is the main means of transport for the majority of commuters, with minibus taxis and bus networks dominating the sector. However, the transport sector here is often unable to provide adequate facilities for travellers, with cash payment systems being plagued by a number of issues, negatively affecting both commuters and transport operators.
Businesses are looking to technological advancement of their payment systems in order to meet the needs of commuters. A cashless payment solution has the ability to streamline the payment process in a way which is both simple and inexpensive, and can improve commuter safety as well as speeding up the entire system, thereby reducing travel times in the process.
The transport sector is helping lead the way in digital transformation by leveraging innovative payment solutions to attain customer satisfaction. Passengers want to simplify the transactions taking place between themselves and drivers, and with increased mobile connectivity across the continent, consumers are demanding the implementation of convenient, low-cost mobile transaction solutions.
A well-functioning transport system is needed in order to support the growth and development of the African economy. Digitising payment platforms in the transport industry will see the creation of economic value as well as financial inclusion throughout Africa.
#fintech #cashlesseconomy #financialinclusion #economicgrowth #financialfreedom #digitalpayments #paymentsforthepeople #paymentsolutions #biometrics #biometricpayments #transactions #transportindustry #agricultureindustry #fmcg #retailindustry #locationinformation #technology #digitalfinancialsolutions #waxdsolutions #gotitwaxed