Historically distrustful of online merchants, Africa’s population has low computer literacy and are less likely to hold bank accounts. Nonexistent government regulations and weak telecommunication infrastructure compounds the problem. In 2010, only 10% of the Egyptian population had bank accounts, 4% had debit cards, and less than 2% had credit cards.
However, in terms of m-Commerce, Africa is growing faster than the global average. For instance, M-Pesa, a mobile phone-based money transfer method, has a strong presence in Kenya, where 58% of the adult population possess a mobile account, and in Tanzania. The ability to transfer money directly onto a mobile device is revolutionary for a region where the more traditional transfers of funds were not secure. Several international payment brands, including PayPal, have begun their expansion into this region.