Here are five promising mobile payment startups built and operating in Africa

Financial technology – FinTech – holds great potential for the future of African economies.

Mobile payments have revolutionized the financial industry in Sub-Saharan Africa, where more than two thirds of people have a cellphone, but only around one-third have bank accounts. Cash is still king in the region, and the financial architecture of bank branches, payment cards and transfer services that are ubiquitous in the West are lacking.

Yet, people still need to buy, sell and get paid, while the large remittance market means moving money internationally is a huge business.

Stand-out success stories, such as M-PESA — the Kenyan money transfer system now used across Africa — have changed the way that consumers, banks and investors see the growth of banking and finance on the continent.

Read more: Why ‘FinTech’ could be crucial for African economies – CNN.com

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