International money transfers to Africa are rising. There are good reasons for that. With the choice of the right online money transfer provider you can save yourself a high amount of remittance fees!
In Nigeria, international remittance is a critical source of income for the people and has changed their standard of living to a great extent.
Businesses in Nigeria can securely request and receive payments directly from their customers without any hassles using PayU’s innovative and secure product called PayU Receive.
A total volume of 213,693,964 transactions valued at N19.33 trillion was recorded in the third quarter (Q3) of 2017 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.
Jumia has introduced Jumia Bot, Nigeria’s first e-commerce Bot. Using Jumia Bot, shoppers can order food, find fashion or electronic items and book hotels and flights by simply having an online conversation with the bot.
As more financial service providers adopt machine-to-machine (M2M) solutions, it is becoming ever more apparent that these solutions are vital to economic inclusivity and innovation on the African continent.
On the basis of its high business environment opportunity potential, Nigeria is in pole position to take advantage of the Africa region’s e-commerce potential projected to reach $50 – $75 billion within the next 5-10 years.
Lola Ekugo runs an online business that connects travelers and people in Nigeria who want to buy items abroad or transport documents from abroad. It has become an instant hit for providing a fast, safe and reliable alternative to the traditional shipping methods that are expensive and time consuming.
Sub-Saharan Africa accounts for more than half of all mobile money deployments worldwide and is pioneering a range of new mobile money use cases, according to new GSMA data.