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.

 

Acquiring in Naira requires the ability to get enough dollars.  International merchants will get a softer landing through African Payment Solutions - eCommerce merchants have a better chance of success in converting their Naira eCommerce payments to USD at the best rate for repatriation.

 

Local acquiring can be tricky for international brand eCommerce merchants expanding to Nigeria as a result of the need for local legal entity and government compliance.  Most banks in Nigeria require full 3D Secure processing of Visa and MasterCards.  It is only with  large deposits and indemnities in place that there is a chance of ratcheting 3D down to a lower level.

If you are a multinational eCommerce company looking to get paid pan-Africa by African consumers, contact African Payment Solutions now