What are the means and solutions of online payment in Cameroon and Africa including mobile money?

State of play of online payment solutions and APIs in Cameroon and Africa

It has been two years since new companies and online businesses have been budding in Cameroon and Africa. Riding on  the meteoric rise of mobile money , they aim to federate the various mobile payment solutions in order to allow consumers to pay for their goods and services, online or in person. Their presence testifies to a strong need of the populations: while they are often unbanked and rarely have access to means of payment such as VISA and MASTERCARD ( not for long ), they find the lack of interoperability of operators in terms of of mobile money .

These services are thus made accessible to all e-merchants thanks to the provision  of payment APIs . The terminology “pay” is in vogue and we find among this explosion of similar services  Vitepay  in Mali or  Paydunya  in Senegal. Moreover, these services are both a catalyst for e-commerce , but also for physical commerce.

In any case, the business model is simple: fees of 1 to 5% are levied on user transactions. The race for flows is on, and none of these companies communicates their figures openly. For example, one of them already generates flows of 5 million FCFA per day, or 1.8 billion per year! Its turnover is around 80 million, which already makes it a fine SME after only one year of existence.

Competition is fierce, and internationalization, at least in the sub-region, is their next frontier: WeCashUp wants to launch its service in 17 countries after leaving Cameroon, SycaPay will soon open 6 West African countries and Cinetpay has just opened a subsidiary in Mali and is targeting Cameroon, Guinea and Senegal in 2017. It is clear that the WAEMU zone is more dynamic than the CEMAC zone, where Cameroon is advancing as a figurehead (as a For example, the Congolese company  PayWebPhone  no longer seems to provide its online mobile payment service since the beginning of 2016…).

Online payment aggregators in Cameroon (API)

In Africa, cash still enjoys supremacy at the point of sale, but digital payment methods and APIs continue to grow. From mobile wallets to bank transfers. The evolution of e- commerce and the rapid growth of fintech are among the main drivers behind the meteoric rise of online payments in Cameroon .

In Cameroon, almost everyone with fintech knowledge is getting into online payments these days . The country is experiencing an increase in the number of online payment aggregators . And it’s not hard to see why.

The volume of electronic payments in Africa grew at an annual rate of 13% between 2014 and 2016, according to a McKinsey report. This figure represents an exciting opportunity for the African fintech industry. This is an opportunity that Cameroon’s online payment aggregators are harnessing to enable thousands of people to access financial services.

The saddest thing, however, is the fact that very little is known about these online payment aggregators in Cameroon . About the amazing job they are doing to make online payments easy for Cameroonians.

In case you are wondering what online payment aggregators are!

Online payment aggregators are the glue that helps many parts of the digital financial services ecosystem work together. They facilitate payments between merchant and consumers through different payment methods such as bank transfers and credit or debit cards.

Like the rest of Africa, in Cameroon most payments are made with cash or mobile phones. This means that for online merchants, PayPal won’t be enough – they’ll need something market-specific.

Among many of these aggregators in Cameroon, a select few seem to be making waves, not only in the country, but also in Africa. These aggregators are not payment processors as they only provide different payment methods and facilitate online payments.

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Online payment solutions by mobile money in Cameroon and Africa

Here is a list of means and solutions of online payment in Cameroon integrating mobile money as well as other solutions

• Campay
• cleanpay
• Monetbil
• My-CoolPay
• MeSomb
• Iwomi Pay
• CinetPay
• Y-Note
• Dohone
• adwapay
• Jonalepay
• Afrikpay
• Orange Money Web Payment
• MTN MoMo API
• WeCashUp
• PayDunya
• PayExpress
• Touch
• AByster
• WaZaPAY
• TranzCore
• E-nkap
• ZuumPay
• soft seller

Detailed presentation of some online payment solutions in Cameroon

Campay

Campay is an online payment gateway for software developers. It is a platform for commerce, not just for payments. It allows transactions to be associated with detailed orders, products, customer profiles, etc. Configure product catalog and inventory to automatically sync between online properties and your outlets

The platform currently supports Orange Money and MTN Mobile Money Operators

Easy to integrate on a Website or an Android Application, the platform offers an Extension for Woocommerce , to facilitate integration on WordPress sites.

Now with Campay you can create link payments , so no need to have a website to receive money!Need assistance for the integration of this Solution

CleanPay

CleanPay is a new online payment solution created in Cameroon by the company CleanDev Agency
As for the name, it has an English origin so Clean= clean and Pay= Payer; This refers to a clean payment that is both effective and efficient. Therefore, This name was adopted because any payment made through this channel is very lucid.

WeCashUp

WeCashUp is a universal online payment platform that brings together different payment methods (cash, mobile money, wallets and bank cards) through a single universal API. It is one of the fastest growing fintech startups in Africa with footprints in 36 African countries. Mobile online payment solutions in Cameroon Wecashup

The platform allows people without a card or bank account to have easy access to online shopping. WeCashUp allows e-merchants to extend their deployment area and thus acquire new markets (Africa, a market that is difficult to reach for e-merchants). It also enables secure transactions for consumers and merchants.

My-CoolPay

My-CoolPay is an online payment platform developed by  DHI (Digital House International) offering companies and individuals 3 main solutions.

For WordPress / Woocommerce developers, it’s now official! My-Coolpay provides its customers with a WordPress Plugin for payment by Mobile Money ! No need to bother technically to integrate the API on your WordPress / Woocommerce site

To download the Plugin and integrate it into your site, JUST CLICK HERE

• Merchant API: To accept payments from customers on your website or mobile app.
• Pools: To raise funds around the world.
• Electronic wallet: To manage your money, track your expenses and budgets, pay online and send money.

Merchant API

The Merchant API of My-CoolPay is the easiest and most secure way to effortlessly accept payments from your customers on your websites and mobile applications. The advantages of the Merchant API of My-CoolPay:

•  Several integrated means of payment (OM, MoMo, EU Mobile Money, VISA, Master Card, My-CoolPay, etc.)
•  Interoperability between all integrated means of payment
•  Traceability of all incoming and outgoing payments
•  Intuitive dashboards for better monitoring of your activity and good decision-making

MeSomb

A solution that definitely stands out from the crowd. MèSomb is a 100% Cameroonian online mobile payment solution, developed by the company Hachther , which specializes in the development of IT solutions for everyday life. It is designed for People , Businesses and Merchants

For the people

Beyond a digital payment solution, MèSomb wants to be a new way of handling money. To this extent, it allows

• Easily and simply make Orange Money and MoMo money transfers without having to use USSD codes
• Pay your ENEO, CDE, Canal+ bills without having to travel
• To make payments with ease, whether it is Shopping, taxi fares, payment in shops and others. No more small change problems,

For companies

With the MèSomb solution , companies can finally

• Integrate mobile payments into their processes in less than 10min, even without an existing system
• Make mass payments or scheduled payments, for example for the payment of salaries, invoices and others…

For Merchants

With MèSomb , merchants now have a solution at their disposal that allows them to:

• To receive mobile payments from customers in less than 30s. No more loss of money due to multiple reimbursement problems due to small change
• To integrate mobile payments on their online services (Web or Mobile Application) thanks to a simple and powerful API, Payment Wigets or Extensions / Plugins for Woocommerce and Odoo

IWOMI Pay

A secure cash management solution, allowing companies to accept payment of their invoices online, and instantly credited to their bank accounts.

The platform has all the means of payment available in the CEMAC ecosystem (Mobile Money, GIMAC, Visa, Mastercard, Paypal, etc.). Whatever the means of payment used by the customer, the biller receives the credit of the payment on his account at the bank in real time

CinetPay

CinetPay is an African “fintech” company, created in 2016, which supports companies in the growth of their business by equipping them with electronic money collection and transfer solutions. It offers new opportunities to entrepreneurs in French-speaking Africa, allows millions of people excluded from financial services to pay online, and thus contributes to the emergence of a true digital economy.

CinetPay offers you a simple and easily accessible platform to help you start, manage and grow your business, whether from a website, mobile app or shopping center. Today, their payment solution allows more than a thousand companies to collect and transfer money from mobile money accounts and bank cards, and to any individual, with or without access to services. banks, for example, to pay tuition fees online.

WaZaPAY

WaZaPAY is another Cameroonian online payment aggregator based in Molyko, Buea. It is an e-wallet and online payment gateway that allows users to securely make and receive payments through mobile phones over the Internet.

Through WaZaPAY, users can pay for goods and services online. It also allows users to pay bills, tuition, donations, and other payments over the Internet or mobile phones. It supports MTN Mobile Money, Orange Money, cryptocurrencies, bank payments, Visa and MasterCard debit and credit cards. Mobile online payment solutions in Cameroon Wazapay

Merchants or sellers can also receive payments for purchases made directly on their websites or mobile apps.

Opening an account with WaZaPAY for a merchant or sellers is very fast, simple and free. The system opens the door for businesses to receive payments in Africa without borders. With the WaZaPAY API integrated into your web or mobile applications, you will be able to receive payments from Mobile Money users and other local payment methods in Africa.

AdwaPay

Developed by the local fintech Adwa , AdwaPay provides a mobile application that brings together most of the digital payment solutions available in Cameroon : MTN Mobile Money, Orange Money, Express Union Mobile, bank cards and even PayPal. With the app, users can perform various monetary transactions. The platform even has a documentation section that guides developers on how to integrate its API on an application on the market.

AdwaPay guarantees the security of transactions since the startup subscribes to Digicert’s annual cyber-insurance package. This package offers a compensation of 1.5 million dollars (825,000,000 FCFA) for each transaction. Mboa Taxi, Adwa’s recent taxi app, also allows users to pay for their rides through AdwaPay.

Dohone

DOHONE SA , is a digital payment aggregator in  Cameroon  offering a wide range of online financial products and services such as online payment API for e-commerce, direct recharge of UBA prepaid Visa cards, mobile payment terminals money, monitoring and statistical management of budgets, etc.

soft seller

Launched by IWOMI Technologies, Softeller allows users to make instant and secure transfers from abroad directly to Mobile Money accounts in Africa. It also enables airtime top-up and bill payment and offers APIs to e-commerce sites and other third-party payment systems.

It has been a notable success since its launch in 2017. Softeller already has over 5,000 users, who have made over 10,000 transactions through the platform in less than a year. A wide range of customers in Cameroon also use its bulk SMS solution to send single or bulk SMS to all networks around the world.

Afrikpay

Afrikpay is a value-added remote payment platform optimized for Africa. Built on NSDT technology (the most innovative and secure technology in remote financial services), this pan-African project aims to bring Africa into the reality of the digital economy. The platform currently offers a secure service allowing “to pay bills (electricity, water, internet, telephone, cable, etc.), to pay for Tontines, to pay children’s university and school fees, to create e- commerce, sending and receiving money, etc.

ZuumPay

ZuumPay is a global mobile payment and financial service offering instant cashless payments, global remittances, currency and cryptocurrency exchanges, money transfers, online payments and withdrawals.

A peer-to-peer financial service to facilitate cashless payments using QR codes and NFC technology, ZuumPay is a tool designed for personal use, merchants, corporations, e-commerce businesses and vendors of services around the world. With a presence in thirteen African countries, ZuumPay allows users to send (Zuum) and receive money through their ZuumPay accounts regardless of the amount.

Unlike mobile money services offered by mobile operators, ZuumPay works everywhere, regardless of mobile operator, bank account or country. This makes it the world’s first global mobile payment solution.

E-nkap

E-nkap is a payment platform that allows Cameroonians to buy and sell on the Internet using all existing local payment methods. Think cash payments, MTN Mobile Money, Orange Money, Smobilpay or credit or debit card payments. E-nkap’s unique and simple API allows local businesses to transact online securely.

TranzCore

TranzCore is a payment system for accepting payments on websites and other Internet projects. The payment system allows you to make one-time or large-scale disbursements of funds through the most popular electronic systems. The system also offers physical cards with worldwide shipping and virtual cards that you can get in minutes.

Monetbil

Monetbil  is a method of payment for digital goods and services online using the billing service of mobile operators. Monetbil  offers e-merchants a  Simple ,  Fast  and  Secure method of payment by mobile phone . And contributes to the significant increase in their turnover.

Mobile online payment solutions in Cameroon Monetbil

Monetbil , this innovative Cameroonian service, offers a secure method of payment and allows application developers and companies to sell their products and services online.

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Abyster

AByster is one of these online payment solutions, but having the particularity of using Mobile Money. For the moment, the system is only available in the African countries shown in Figure 1 below with Mobile Money services, because in other countries, particularly in East Africa, other operators are present there. and have another mobile payment system: the  M-Pesa3  for example. The payment solution currently works in Cameroon and Senegal.

PayExpress

online payments in cameroon payexpresse

PayExresse  offers its secure online payment platform for sellers who want to collect payments from their customers, easily on the Internet, with or without a website. It offers three easy and secure integration options to start accepting payments from around the world namely Web API Integration, Mobile Integration and Plugins & Extensions for frameworks like Prestashop and WordPress. they allow you to receive your payments via  Paypal, Bank Card, Orange Money, Wari, Joni Joni, Poste Cash, Tigo Cash…

Online payment methods in Cameroon

There are different electronic payment methods, namely:

• Payment by credit card:  With this method of payment, the buyer uses his classic credit card to pay. However, to make any payment, you must ensure that the e-commerce site is equipped with a security system (SSL). It is a method of encrypting personal data (name, address, bank details) which makes them invisible, unreachable and therefore cannot be recovered by malicious people. You must always make sure that the mention https:// is present in the navigation bar of the site where you provide your banking information.
• Payment by e-card number:  This is a method of payment attached to the bank card which allows you to pay without giving your bank card number. . These cards are often called “VIRTUALIS” in banking establishments.

• Internet transfers:  A service highly appreciated by large banks because it allows salary transfers and many other financial transactions on a large or small scale.
• Payment by contactless bank card:   This mode allows you to pay for purchases of a relatively low amount with your card without having to insert it into the payment terminal and without entering your confidential code. It mainly saves time and saves you the hassle of small change.
• Paiement par mobile via NFC :  C’est un système de paiement sans contact aussi mais moins vulgarisé que les autres car il nécessite d’avoir un téléphone équipé de la technologie NFC d’installer une application qui type apple pay, google pay qui fait la liaison entre votre compte téléphone et votre compte bancaire.
• Le paiement par Mobile via USSD (Mobile Money): C’est le mode de paiement par excellence qui fait rage en ce moment est le Mobile Money au Cameroun (Orange Money, MTN Mobile Money, Express Union Mobile Money), le marché du paiement en ligne et hors ligne au Cameroun est détenu par les deux géants de la téléphonie mobile au Cameroun, à savoir Orange Cameroun et MTN Cameroun.  
• Payment via cryptocurrencies (ETH, BTC, XRP, DOGE):   Based on a powerful encryption algorithm called blockchain, cryptocurrencies make it possible to overcome trusted third parties (banking establishments) thus reducing the costs and time of transfer of ‘silver. They offer the possibility to all people with an internet connection to now send and receive money around the world in a secure way and without intermediaries. Unfortunately Africa and Cameroon seem once again to miss this monetary revolution which is about to take off.

General online payment solutions for your e-commerce in Cameroon

One of the most important decisions when launching your e-commerce is the choice of means of payment in Cameroon.

You have to think ease – security – reliability.

Here is a list of some general online payment methods to help you make a more informed choice.

PayPal

PayPal  has over  210 million users worldwide . It is one of the most popular e-commerce payment solutions .

It must be said that PayPal seduces with its ease of use and the many options available to buyers.

A crucial point distinguishes it from its competitors: it allows you to pay online without communicating your bank details. How does it work? The buyer validates a payment order via a module made available by PayPal, the latter debits the account of the buyer and pays the amount of the purchase. This process is very reassuring for Internet users.

Stripe

Integrate  Stripe  into your e-commerce site and give your customers the option of simply paying by credit card, without going through a bank.

Buyers won’t even need to register on your site to take advantage of this solution. Stripe’s security is guaranteed by a dispute management platform, 3D Secure and Stripe Radar.

Unfortunately, in Cameroon, you cannot register directly on Stripe, you will need to register your company in one of the eligible countries in order to benefit from this solution.

Bank transfer

Payment by bank transfer  is a safe and very practical solution. This popular means of payment allows you to buy on merchant sites, but not only. It is also used to make account-to-account transactions. The bank account from which the money is taken is debited and the one to which the money is sent is credited.

Today, payment by bank transfer is offered by all physical and online banks.

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