04 Sep NIGERIAN PAYMENT GATEWAY INFO: 6 MOBILE PAYMENT FOR ECOMMERCE IN NIGERIA

Paga is a growing new Nigerian mobile payment method with 12,000 agents in the field signing up new subscribers and providing money changing, particularly for approximately 6m, predominantly unbanked and rural consumers, more than 50% using USSD but with a growing smartphone base. Nigeria online payment solutions - Nigeria credit card payments - Nigeria ecommerce payments - Nigeria online credit card payments -  Accept online payments from Africa - African eco...
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01 Sep NIGERIAN PAYMENT GATEWAY INFO: 5 BANK ACCOUNT STATS AND ECOMMERCE AND ONLINE PAYMENT IN NIGERIA

Nigeria has almost 100m active bank accounts held by 60m customers, and 2m registered mobile money accounts from 21 Mobile Money Operators.  More than 12m web transactions were recorded by NIBSS between Jan and Jun 2017 to the value of 84bn Naira. Nigerian payment awards went to Paga for the highest Mobile Money Operator transactions, Zenith Bank for exceptional transaction volumes, and GTBank for the best overall customer experience.   Nigeria online p...
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31 Aug NIGERIAN PAYMENT GATEWAY INFO: 4 PRIMARY PAYMENT METHODS FOR ECOMMERCE PAYMENT IN NIGERIA

The primary Nigerian payment methods are Visa, MasterCard and Verve.  Mobile payment is still relatively immature.  There may be the same situation as South Africa where banks with cards have made it easy enough for financial inclusion and mobile payment operators will find it hard to penetrate the market significantly.  M-Pesa in Kenya achieved good traction early, with development capital and before the banks woke up.  This appears unlikely to ...
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30 Aug NIGERIAN PAYMENT GATEWAY INFO: 3 NIGERIAN ECOMMERCE GROWTH AND ECOMMERCE PAYMENT

Nigeria has some big local eCommerce investments which are paving the way for international ecommerce companies planning to expand to Nigeria.  Companies like Jumia and Konga have had significant investment and have been very successful in building infrastructure and the eCommerce rails like warehousing and fulfilment.   This will make it increasingly easier for international eCommerce companies to expand to Nigeria and with the help of African Payment So...
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29 Aug NIGERIAN PAYMENT GATEWAY INFO: 2 ECOMMERCE PAYMENT, CURRENCY, FRAUD AND 3DSECURE IN AFRICA

Fraud with local Nigerian eCommerce payments is really low as a result of all cards requiring an OTP.  According to banks, the main fraud is occurring with cloning of cards, and prior to the implementation of full 3D, there was a lot of fraud on unenrolled cards from other regions like the USA. The central repository NIBSS manages a registry of what is called a BVN (Bank Verification Number) for all Nigerians who have to have one in order to get a bank accoun...
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28 Aug NIGERIAN PAYMENT GATEWAY INFO: 1 NIGERIA’S CONSUMER MARKET IS RIPE AND READY FOR eCOMMERCE

I have just returned from a visit to our banks and mobile payment acquirers in Nigeria and here is the latest in a series of lowdowns on eCommerce and payment in Nigeria.   Nigeria’s consumer market is booming and ripe and ready for eCommerce.  Despite the depressing effects of the oil and gas economic pressures.  Credit and debit card acquiring rates are on the high side for USD acquiring and relatively competitive for acquiring in Naira. &...
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17 Jul MNO's and African eCommerce and Mobile Payment Methods - Kenya, Nigeria, South Africa

Mobile payment is hotting up in Africa in the wake of M-Pesa as possibly the most successful mobile payment method in the world and certainly in emerging markets. MTN with the Mobile Money is expanding across countries looking for traction and opportunities to capitalise on the growth in demand for payments by African consumers in and more recently in Ivory Coast and Uganda. Money transfer is the driver at this stage but it bodes well for bolting on to African Pay...
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14 Jul eCommerce Growth and Online Payment in Africa - Nigeria, South Africa and Kenya and now Ghana

Kenya, South Africa and Nigeria are the hubs and entry point for Multinational eCommerce companies entering the African eCommerce market and looking for online payment through African Payment Solutions, and Ghana is hot on their heels.   Ghana’s Vice-President Bawumia is driving digital financial inclusion with MasterCard towards a cashless society in 2020. Most Ghanaians have a mobile phone. According to UNCDF, 40% of adults in the least developed count...
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13 Jul M-Pesa eCommerce Payment Method in Kenya Through a Simple API

The originator of M-Pesa, Michael Joseph says M-Pesa was originally designed to facilitate disbursement and repayment of microloans way before it became a de facto eCommerce payment method through a single integration to pan-African payment methods via African Payment Solutions. M-Pesa as a payment method way exceeded expectations and grew exponentially to become the leading and primary payment method in Kenya through the championing of maverick Kenyan executive Be...
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12 Jul African eCommerce Potential and Online Payment Metrics

Rapid urbanization, a resilient and adapting middle class, accelerating consumption patterns and the ability to get paid via the local payment methods through African Payment Solutions are driving eCommerce for big brands across the continent.   The African region is becoming “more widely recognized as the world’s most exciting and attractive frontier investment destination”.  Many of the fastest growing cities in the world are in Africa...
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