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 Solutions to get paid across the African continent.  In Nigeria, mobile is the new way of life.  One of the payments companies reached NGN1bn in collections.  

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Card is big in Nigeria.  According to a local bank, there are about 11m Naira issued cards, there are almost 2m USD cards in issue, and approximately 1m Verve cards.  The cross border settlement of eCommerce transactions by Nigerian consumers using Nigerian cards to international banks results in very low conversion rates, so local settlement is an imperative.  

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