UEMOA: increase in electronic transactions in the second half of 2020

The volume of transactions via electronic money accounts stood at 1.74 billion transactions valued at 20.451.66 billion CFA francs between July and December 2020, according to data in the latest monitoring report of the means and services of payment published by the BCEAO Payment Systems and Means Directorate. These figures represent increases of 50% in volume and 65.65% in value compared to the first six months of the year (1.16 billion transactions for 12.346.56 billion FCFA).

According to the document, the number of intra-UEMOA transactions stood at 7.32 million for a value of 344.39 billion CFA francs at the end of December 2020 against 4.52 million transactions valued at 228.68 billion CFA francs. at the end of June 2020, i.e. increases of 61.95% and 50.60% respectively in volume and value. This situation, it is said, can be explained in particular by the coffee and cocoa farming campaign in Côte d’Ivoire and the end-of-year celebrations.

For their part, receipts of international funds on electronic money accounts stood at 200,100 transactions for a value of 11.01 billion CFA francs at the end of December 2020 against 130,986 transactions estimated at 7.31 billion CFA francs at the end of December 2020. December 2020, i.e. increases of 52.76% in volume and 50.62% in value.

12 actors including 7 in Ivory Coast

“These increases are mainly explained by the operation of the international funds reception service by credit institutions in Benin, Burkina Faso and Mali, in partnership with electronic money institutions like the Côte d ‘ Ivoire et du Sénégal ”, indicates the BCEAO Payment Systems and Means Directorate.

As a reminder, there are a total of 12 companies approved by the Central Bank for the exercise of the activity of issuing electronic money in WAEMU as an electronic money institution (EME). Among them, 7 are located in Ivory Coast, the leading country in terms of the value of transactions carried out via mobile during the period considered.

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