Global payment companies, including Mastercard (MA) and Visa (V), are spending billions of dollars into African companies that have powered an expansion of e-commerce on the continent, Alexandra Wexler of The Wall Street Journal reports. Recently, deals have focused on mobile-money operators, which has allowed users to send funds using simple phones. By the end of the year, the U.S. Commerce Department anticipates 435M Africans will be spending money online.
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