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The mobile payment sector is currently experiencing an exponential boom on the African continent, perhaps this is why mobile payment firm Kalixa will be partnering with Millicom, an international telecommunications and media company, to develop a payments sevice provider for Africa and Latin America.
The joint venture melds the strengths of the two companies, including Millicom’s extensive reach across Africa and Latin America and Kalixa’s wide range of payment services, “including issuing, acquiring and acceptance solutions to over 8,000 merchants across 100 markets”, notes the presser.
Initially, the venture will seek to roll out in the second half of 2014, and will set up end-to-end service for ecommerce providers. The two companies are looking at Brazil and Colombia specifically — together the two countries mark the largest markets in South America, with “80% of the continent’s top 500 e-merchants present” in Brazil, and Colombia where online shopping has grown “significantly at over 60% annually.”
CEO of Kalixa, Ed Chandler, sees both markets, including Africa, as important areas for the future of mobile payments and ecommerce:
As developing markets, Latin America & Africa represent a combined $1.78 trillion opportunity for the payments industry. Our partnership with Millicom is the first step in making payments easier for merchants and consumers in these regions by offering a connected service with the full spectrum of payment services being offered under one roof.
Additionally, Millicom CEO and President, Hans-Holder Albrecht has also lauded Kalixa’s expertise in its field:
Working with Kalixa will enable us to offer a complete digital payments service in markets where ecommerce is growing rapidly and where we already have a strong presence. It is a great combination of our respective expertise.
The service provider will be available in Colombia and Brazil later this year, with Africa following suit a little later.