By Caroline Jemeli
I have observed how my daughter makes payments, and it reflects a shift that is transforming
the global economy. Millennials and Gen Z are redefining digital payments, driven by a desire
for speed, accessibility and innovation. Their preferences are creating a “touch, scan, go”
culture powered by tap-to-pay and scan-to-pay solutions, that are reshaping the way people
think about money, access, and financial inclusion.
What was once a time-consuming process is now instant. A quick tap of a phone, smartwatch,
or contactless card at the checkout counter, or a simple scan of a QR code, completes a
transaction in seconds. No fumbling for cash, no waiting for change, just seamless, secure and
frictionless payments. These tools embody the kind of instant gratification the youth have grown
accustomed to in the digital age.
Gen Z particularly, are leading the charge, with data showing that 51% of them use digital
payment methods like mobile wallets and only 10% rely on regular cash payments. For the
youth, this ease of use is more than a convenience. It represents empowerment. By lowering
the barriers to making and receiving payments, contactless technologies are opening economic
participation, from side hustles and freelancing to small business entrepreneurship.
Building Sustainable Uptake
For digital payments to remain attractive and sustainable, the ecosystem must evolve alongside
the youth’s needs. Governments and regulators must create frameworks that encourage
investments and innovations in the sector. Payment service providers must innovate the way
payments are accepted. Fintechs must push beyond current solutions to offer smarter, faster,
and more inclusive options, and businesses must embrace these solutions to remain relevant.
That is why here at Network International (Network) we do not see payments as just
transactions. For us, payments are experiences. We enable payments that suit your lifestyle, the
way you live, whether you pay through card, mobile wallets or online.
Kenya illustrates both the progress and the gaps. Mobile money adoption is among the highest
in the world, with up to 52% of Kenyans using mobile money daily. Data indicate that despite
there being over 7.4 million MSMEs in Kenya, there are only about 48,000 POS machines in
use. This undercuts the potential for inclusive, consistent payment acceptance.
Solutions such as the Network POS, QR code payments, mobile payments and even Soft POS
technology by Network International address this gap by enabling merchants, from local
vendors to SMEs and large enterprises, to accept payments across multiple channels: cards,
mobile money, Apple Pay, Samsung Pay, and more. For consumers, it means confidence that,
whether buying vegetables, a concert ticket, or paying for transport, their preferred payment
option will be accepted.
For our younger demographic, it means they can make payments without the fear of being left
out because a merchant does not accept a form of payment. It opens payments for merchants
who do not have to lose business from a customer who has gone fully digital or from a foreigner
who does not have local currency at hand.
For Early Adopters, the Future is Brighter
In digital payments, AI is increasingly playing a role in enhancing the payment experience. From
powering fraud detection systems that learn and adapt to suspicious patterns in real time, to
enabling personalised payment recommendations and seamless customer support through
chatbots and biometric data screening, AI is making transactions safer, smarter, and more
user-friendly.
It is also helping merchants optimise checkout processes and offering predictive insights into
consumer spending habits, ensuring that the payment journey is not only secure but also
tailored to the needs of today’s fast-paced, tech-savvy users.
Wearables: The Next Frontier
We are also seeing the rise of wearable technology being integrated to enable payments. Apple
has enabled its customers to make payments with a simple tap using their Apple Watches on
Apple Pay. The same applies to Google Wallets through smart watches. A newer trend is the
use of payment rings to make contactless payments through near-field communication
(NFC)-enabled rings. Because they are swift and contactless, their growth is projected to exhibit
a compound annual growth rate of 19.3% between 2025 to 2032.
Network International is a partner for every business and customer who cares for bold, fast and
convenient payment solutions because no matter who you are or where you are, payments
should work.
What feels revolutionary today will soon be the everyday norm, provided businesses, regulators,
and innovators continue to design with youth at the center. The younger generation is not just
adopting new payment systems; it is rewriting the rules of commerce for everyone.
The writer is the Regional Head of Marketing, Merchant Services, Africa at Network
International.
