In the second of our country profiles, we look at Senegal.
Pipit has over 12.5k payment locations in this stable and developing African nation, and partners with leading pan-African and international Fintech and payments operators Cellulant, TouchPoint, APG, SpotOn Money to deliver a full suite of domestic, intra-African, and international payments services.
According to RemitSCOPE Senegal is the most remittance dependent country in Africa, with a score of 88 out of 100 on its pan-African index. Those remittances are, then, a lifeline to the country on a par with FDI, and a significant contributor to Senegal's economy, representing roughly 10% of the country's GDP as indicated by the measure of formal flows.
eCommerce is in an early adoption phase and is still almost entirely (95%) reliant on cash on delivery payments. The adoption of digital transactions in eCommerce is rising and the provision of cash to digital transactions and transition as facilitated by operators like Pipit Global and its partners will bring greater opportunities and accelerated development in this sector.
By working closely with our partners in Senegal to understand the particular requirements and the landscape of the Senegalese market, and by facilitating services through our global payments network, Pipit is building the bridges that will help to achieve greater financial access and inclusion, and positively impact Senegal's social and economic development.