Digital Payment Today - Africa's Digital Wallet Market Poised for Significant Growth

Africa's prepaid card and digital wallet market is projected to experience significant growth, with forecasts indicating a compound annual growth rate (CAGR) of 13.3% from 2025 to 2029, reaching an estimated value of $59.4 billion by 2029. This expansion is primarily driven by increased digital adoption, financial inclusion initiatives, and the integration of mobile money platforms, which collectively enhance access to financial services for unbanked populations. The rise of prepaid card solutions for younger demographics and their integration with mobile money platforms also play a crucial role in facilitating cross-border transactions and broadening the accessibility of financial services across the continent. The competitive landscape is marked by strategic partnerships and regulatory support aimed at transforming Africa’s financial ecosystem.

In other trading, Meritz Financial Group (KOSE:A138040) was trading firmly up 5.7% and ending the day at ₩112,500. At the same time, Chime Financial (NasdaqGS:CHYM) trailed, down 6.7% to end the day at $29.53, hovering around its 52-week low.

SoFi Technologies' strategic partnerships and new loan products could rapidly increase its lending market share. Explore the full narrative to understand why timing might be crucial.

Best Digital Payment Stocks

• PayPal Holdings (NasdaqGS:PYPL) closed at $70.05 up 2.2%.
• Visa (NYSE:V) finished trading at $338.57 down 0.5%. On Friday, Visa appointed Tareq Muhmood as regional president for Central and Eastern Europe, the Middle East, and Africa.
• SoFi Technologies (NasdaqGS:SOFI) ended the day at $15.20 down 1%. This week, SoFi partnered with Benzinga to enhance its investing platform with advanced market insights and research tools.

Key Takeaways

• Click here to access our complete index of 200 Digital Payment Stocks, which features Banco Santander, Oversea-Chinese Banking and Jack Henry & Associates.
• Searching for a Fresh Perspective? AI is about to change healthcare. These 22 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "Africa Prepaid Card and Digital Wallet Future Growth Report 2025, with SOLmate, Wallets Africa, Zywa, Shoprite, and more " from Research and Markets on GlobeNewswire (published 19 June 2025)

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com