18 Oct Nigerian Retail eCommerce Driving Growth- Internet Connectedness and Online Paymentability the Catalysts

eCommerce companies like Konga, Jumia and Wakano are driving consumer demand for eCommerce products and services and as payment facilitators and collecting PSPs like African Payment Solutions make it easier to get paid online, the eCommerce economy is growing at 30%+ per annum.

The retail segment has largely driven the Nigeria’s ecommerce market, and the emerging middle class of around 23% of the population is ready to shop, hungry for international brands and able to pay with payment methods connected to the African Payment Solutions payment network.

The Nigerian authorities suggest that there are more than 90m internet users in Nigeria and growing at 25% per annum. This is facilitating big growth particularly in property, tourism and financial services. On the back of success in Nigeria, eCommerce companies like Wakanow are expanding to East Africa where they will need for eg M-Pesa which is the dominant local payment method.

Konga and Jumia are making good progress and paving the way in logistics for multinational eCommerce companies entering the territory.

Aggregating pan-African online payments for eCommerce has made it easier for large international eCommerce companies entering the territory and looking for easy and cost effective online payment by African consumers.

If you are a multinational eCommerce company looking to expand to Africa for your eCommerce payments then contact African Payment Solutions now

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Our thanks for inspiration to http://radar.techcabal.com/t/which-nigerian-tech-startup-will-be-worth-a-billion-dollars-soon/2869 and 

https://buzzreporters.com/2017/09/23/nigerias-e-commerce-market-in-a-decade-to-peak-50bn-as-expansion-seen-beyond-retail-transactions/