WHAT RWANDESE BUSINESSES NEED TO KNOW WHEN ACCEPTING ONLINE PAYMENTS
Rwanda has one of the fastest growing economies, currently amassing a GDP of approximately 25 billion dollars from an ever growing population that now stands at 12 million. The economy is vastly hungry for innovations and ideas that will boost the country’s transactions within its borders and with its African and global allies.
The ever growing economy of this East African nation has quickly caught up with the trend that is online payment systems to facilitate their business transactions. The country has adopted MTN mobile money as its dominant pay mode for majority of the people. To a minor extent, Airtel money and the sophisticated online banking modes.
Rwanda adjusting to Africa and its business ways
Companies in Rwanda are looking to achieve further business growth and economic advancement beyond their borders, there is need to overcome the obstacles of different pay systems in other African countries such as Nigeria’s online banking, Ghana’s Tigo and Kenya’s Mpesa, on top of which the card payment system used in Europe. There is a significant difference in the way most countries pay and Rwanda has to adjust accordingly in order to maximize international trade.
How can Rwanda curb this challenge
The economy certainly can’t have all these payment systems within the economy ; mainly because of the need to monitor and maintain order of how money moves in the country.
However with DUSUPAY, there is no need to encourage numerous pay systems in the economy, having gone live in Rwanda, businesses can now transact with counterparts across Africa and Europe as well.
The merchant accounts and API integration on websites enables businesses in Rwanda to conduct payments through MTN mobile money to the different pay modes outside Rwanda. Dusupay bridges the gap; accepting payments and paying out with ease despite not having certain pay modes in their country therefore making online transactions convenient.