Wednesday, January 01, 2014

Nigeria in 2014: Awareness of Mobile Payments will increase

Mobile payment options like MTN Mobile Money, Paga, and U-MO are expected to grow in 2014. The need to bank the unbanked and other reasons for the expected growth is explained in the key finding of the EFInA Access to Financial Services in Nigeria 2012 Survey. MTN’s wide spread coverage, Etisalat’s fast internet service, Airtel’s affordability and Glo’s venture in the mobile banking are factors that will ultimately lead to growth in mobile payments in Nigeria in 2014. Already, payD is used in the South African market where, using their mobile phone, customers are able to securely make online payments using their debit, credit or cheque card. In Zimbabwe, EcoCash, Telecash and OneWallet are taking the lead in Mobile Money. There has also been increasing popularity of Mobile Money in Uganda with the country’s 12 million mobile money subscibers reaching a transaction of $640m between January to November 2013.

Read the full article here: 10 Economic Highlights to look out for in Nigeria in 2014. Want to share you thoughts on the Nigerian Economy in 2014? You can drop your comment below or continue the discussion with on twitter 

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