African countries want to pay with cryptocurrencies

According to a Mastercard report, the covid-19 pandemic has helped spread the use of cryptocurrencies, especially in three countries in Africa - Nigeria, Kenya and South Africa. The document presented shows that more consumers in these countries "are likely to use one new payment method in the coming year".

According to the results of a survey conducted between February 26 and March 10, 2021, a significant number of respondents from these countries plan to use cryptocurrencies in the coming year. In Nigeria, 65% of respondents plan to pay with cryptocurrencies.

By contrast, around 43% of Kenyan respondents signaled their intention to use cryptocurrencies when making payments. South Africa (41%) has the lowest number of consumers who plan to use cryptocurrencies in the coming year.

Commenting on the growing demand for such new payment methods, Raghav Prasad, president of the Mastercard branch, said:

The pandemic made us think differently, partly out of necessity. To provide the choice and flexibility that consumers need - and increasingly expect - retailers around the world need to offer a range of easily accessible and always active payment solutions.