Mobile contactless payment expected to swell by 24% to $2.5tn in 2021
Zainab Iwayemi
May 19, 2021
Zainab Iwayemi In recent years, the demand for mobile contactless payment options has been on a steep uptrend leveraging on the impetus from the pandemic in 2020. This development is expected to maintain its robust momentum through 2021 and beyond. Research data analyzed and published by ComprarAcciones shows that the market hit a benchmark of […]
Digital, contact-less payment on the rise, MasterCard reports
Wale AmeenMay 7, 2021
Wale Ameen Research from Mastercard shows that the adoption of new payment technologies is rising and consumers are embracing new, fast and flexible digital payment options. The research contained in it’s recently released consumer index survey reveals that consumers in emerging economies are shifting their spending habits to embrace contactless tap-and-go payments and digital shopping […]
Amazon to establish African H.Q. in South Africa
Online EditorApril 21, 2021
Arakunle Kayode Amazon has announced that it will establish its African headquarters in Johannesburg, South Africa. The City of Cape Town has confirmed the mixed-use development of R4 billion River Club, which will be the new home to the retail giant Amazon in Africa. This comes up a week after Twitter announced Ghana as […]
Pricepally, Nigeria’s digital food startup secures six-figure funding from two prominent VCs
Charles AbuedeApril 7, 2021
Charles Abuede Pricepally, an innovative digital food cooperative platform for African cities has secured an undisclosed amount of pre-seed funding from two prominent venture capitalists – Launch Africa Ventures and Samurai Incubate to aid the food tech startup’s drive towards increasing the access of food for African communities is two-fold, it both supports local […]
Nigerians initiated transaction valued at N158trn in 2020 as a result of the pandemic – NIBSS
Charles AbuedeMarch 30, 2021
Charles Abuede The total value of transactions effected via the electronic fund transfer (ETF) grew 50 per cent to N158.1 trillion in 2020 from N105.2 trillion recorded in 2019 while there was a 77 per cent surge in the total volume of transaction to 2.03 trillion in 2020 from 1.15 billion recorded in the […]
Nigeria’s online transaction soars alongside volume, reaches N44.3tn in Q3 2020
Zainab IwayemiMarch 23, 2021
Zainab Iwayemi In April 2020, Nigeria recorded an increase in online activities, but this did not translate into a corresponding rise in financial transactions online. However, recent data from Nigeria Inter-Bank Settlement System, NIBSS has revealed that the third quarter of 2020 witnessed a surge in the volume (up to 2.5 million in Q3 2020) as […]
Shopping apps rank 2nd in popularity after music apps as 73% of millennials shop daily
Online EditorMarch 6, 2021
… E-commerce sales to account for 54% of all retail e-commerce in 2021 …Pandemic accelerated shift to digital by 5 years …80% Shopify merchants expect higher sales, even boom in 2021 …Africa, with 60% youth, not left out as more youth go app compliant Ben Eguzozie, in Port Harcourt A sudden, Covid-19 pandemic-inspired […]
Access, convenience biggest contributors to fintech adoption in Nigeria
Saviour AdugbaOctober 13, 2020
Saviour Adugba Access and convenience are the two most important drivers of fintech adoption in Nigeria, a report by McKinsey & Company, the business advisory and consulting firm has stated. There is also a growing trust in fintech because of the participation of mobile network operators, the growth of agent networks, transparency in pricing, customer […]
Significant shift from cash to digital payments a gradual process, say Flutterwave executives
Saviour AdugbaSeptember 30, 2020
In a lot of ways, the COVID-19 pandemic has thrust forward the importance of online and digital payments and brought to more public familiarity technology payment facilitating companies. Flutterwave, one of the leaders in the payment technology space in Africa, helps provide banks and businesses with seamless and secure payment experiences for their customers “We’ve […]
How Covid-19 spurs growth in MNO’s revenues, e-banking usage
Omobayo AzeezMarch 23, 2020
By Omobayo Azeez Fear emanating from the swift spread of deadly coronavirus disease (Covid-19) may have spurred increase in spend on some telecoms services and adoption of electronic banking systems among Nigerians. Although, some telecommunications companies and banks have been exposed to the negative impacts of the pandemic through channels such as the Nigerian Stock […]