December 13, 2015 IBOMLLC Team

Growth of Mobile Payments in the Hospitality Industry Boosting Revenue

Growth of Mobile Payments in the Hospitality Industry Boosting Revenue

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Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Travelers found to favor mobile payments as industry players embrace the fast-growing trend.

The growth of mobile financial services in Kenya has created quite a buzz across continents in the last few years; with analysts placing the exponential sector way above ‘conventional’ banking services as more and more people embrace the wave of convenience. Opinion leaders continue to attribute this growth to its convenience and accessibility, cost-effectiveness and the security guaranteed by cash-less trading.

A report released by the Communication Authority of Kenya valued mobile payments in the first half of 2015 at KSh 1.3 trillion; a notable growth compared to KSh 1.1 trillion through the same period in 2014. This places the country on the top of the pack in the Sub-Saharan region.

The Kenyan hospitality industry has not been left behind either, in a recent report launched by hotel booking site, www.jovago.com, mobile payments appear to gain more favor at 29% of as compared to card payments at 24% of total customers who used the site in the first half of 2015.

The sector is going through a profound transformation as consumers drive the demand for …read more

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