06 Nov Stats on Kenya and Nigeria - eCommerce and Online Payment

 Over 60% of Nigerians (almost 60m) now have access to some kind of banking or mobile payment capability.   Nigeria has more than 90m mobile and internet users and more than 15m people on Facebook.

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Verve card which was first issued in Nigeria and used by almost half of the card carrying Nigerians, is now being marketed and issued in Kenya.  Acquiring of Verve debit card is cheaper than with Visa and MasterCard.

More than 70% of Kenya’s population use M-Pesa Mobile Payment method to pay for goods and services and transaction volumes are many times more than Scheme cards combined.  Cards have not caught on as well in Kenya as a result of the dominating of mobile payment method M-Pesa and a lower level of trust in cards by consumers.

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Some of the bigger eCommerce companies in Nigeria are quoted as saying that consumer trust is a retarding factor when it comes to eCommerce growth.  Big international brands like Macy's and Amazon for example would not suffer from this as a result of their global brand status and consistency.

A BTCA study says that digital payments have now reached a tipping point which is great news for eCommerce.  Once logistics are sorted, it appears that there is enough critical mass in eCommerce demand, and the ability of consumers to pay using their favourite payment method.

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 A survey by IPSOS says that more than 80% of online shoppers in Africa are already shopping cross border and or expect to shop overseas in the future. Investment in eCommerce and online businesses in Nigeria exceeded $200m in the past three years.  

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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