The Top-Performing Business Sectors on Flutterwave in 2024
Flutterwave, one of Africa’s leading payment solutions recently published its 2024 report, highlighting the top-performing business sectors that dominated transactions on its platform. From fintech and e-commerce to transportation and education, these industries showed resilience and growth despite the economic uncertainties that marked the year 2024. In December alone, over 26 million transactions worth […]
The Future of Digital Remittances in Nigeria
Digital remittances have emerged as a transformative force in the global financial landscape, providing a convenient and cost-effective way to transfer money across borders. In Nigeria, remittances play a significant role in the economy, contributing to household income, poverty reduction, and economic development. As technology continues to advance, the future of digital remittances in […]
Exploring 7 Opportunities in e-Commerce Payment Solutions
The rise of e-Commerce has revolutionized the way businesses operate, offering tremendous opportunities for growth and expansion. Nigerian FinTech startups are well-positioned to capitalize on this trend by developing innovative payment solutions tailored to the unique needs of the e-Commerce industry. This essay explores the opportunities that exist for Nigerian FinTech startups in the […]
Trends Reshaping Payment Processing In Africa
Payment processing in Africa has undergone significant changes in recent years due to advancements in technology, increasing demand for digital payments, and regulatory reforms. This has led to the emergence of new trends that are reshaping the payment landscape in Africa. In this article, we will examine some of the key trends that are […]
6 Nigerian Apps for Cross-Border Payments
There’s no shortage of inexpensive digital platforms supporting local transactions. But when it comes to cross-border payments, Nigerians have to part with significant fees just to send and receive money. Most of the better-known options for international transfers charge a good chunk of their users’ funds. Others offer services so limited, utilizing them can […]
Problems And Prospects of the POS Payment In Nigeria
The Point of Sales (POS) use was introduced in Nigeria in 2013 by the Sanusi Lamido Sanusi Central Bank of Nigeria (CBN) led administration. This followed the introduction of the agent banking system and financial inclusion policy to reach the unbanked and underbanked population of the rural and semi-rural segments of Nigerian society through […]
How Your Business Payment Solution Can Win Consumer Trust
Brands that will win every time are those that think from a consumer’s point of view. Let us look at this scenario: Where would you rather shop? With a brand that isn’t clear about how they handle your money or data, or a brand that clearly outlines how they offer a clear and secured […]
Digital Payment Platforms: Pros And Cons
Digital payment platforms have brought so much ease and importance that can’t be overlooked in our world today. It’s a super amazing thing that, at the comfort of your homes, transactions can be made successfully on your devices, without having to move an inch, platforms like PayPal, Venmo, and Payoneer have enabled us to receive […]
Nigeria’s Leading Switching And Payment Company, Etranzact
According to Business Day, only 45 percent of Nigerians are banked. Similarly, the latest figures received from the Nigerian Communications Commission (NCC) indicate that there are 83 million active GSM lines in the country. Read more about Fintech Data from the Nigeria Inter-Bank Settlement System Plc (NIBSS) shows that the total BVN count as of […]
Ziroopay Raises $11.4 Million To Scale Its POS Solutions To Nigerian Retailers
In Nigeria, Point of sale (POS) terminals are used to process card payments at retail locations (shops, supermarkets, restaurants, etc) as well as for agency banking purposes, a branchless banking system where agents act like human ATMs. POS terminals have different functions and are provided by either banks or fintech. The most common type of […]
How Nigerian BNPL Platforms Can Address Payment Challenges
Buy Now, Pay Later (BNPL) is a very challenging type of FinTech to set up in Nigeria. There are various BNPL platforms in Nigeria. And in recent times, there have been low approval ratings for the BNPL industry. There are a plethora of problems facing BNPL platforms as there are, however, fees for missed […]
Lazerpay, The Blockchain-Powered Payment Infrastructure
LazerPay the Nigerian startup, building an online payment process for cryptocurrency launched in beta in October 2021. And it gave early access to 500 businesses and creators in Africa. Before the beta launch last year, LazerPay received an undisclosed amount of investment from Nestcoin, an innovative venture that builds, operates, and invests in products making […]
Earnipay’s Role In Improving Salary Payment In Nigeria
Employees in Nigeria are usually in the formal and informal sectors of the economy. In the formal sector, payment of salary is well structured and is paid at the end of the month or at least the first week of the new month. Read more about Business In the informal sector, payments of salary […]
A Better Way To Verify Your Customers
Know Your Customer, popularly referred to as “KYC” has always been an integral component in the success stories of online businesses, especially now when insecurities are on the rise and customers are not really who they say they are. Each feature release, depending on its scope, requires some level of KYC and businesses who wish to extend more […]
Websites We Love: Korapay
Payments will always be a big deal for many individuals and businesses in Nigeria. In fact, the World Bank ranks Nigeria as the largest remittance recipient in Sub-Saharan Africa and the sixth-largest among lower-middle-income countries. Despite this, making online payments to Nigeria can be quite a challenge. That is why, in recent times, many fintech […]
Websites We Love: Wallet.ng
Money is such a big deal. We use it in virtually all forms of payments known to man and we know we have to keep growing and saving it in order to keep enjoying the benefits it provides. So far, banks have done a good job of helping us save large chunks of money and […]