Category Archives: Payment

The Myth Around Literacy and Financial Inclusion

According to EFInA (Enhancing Financial Innovation and Access), Financial Inclusion is “the provision of a broad range of high-quality financial products, such as savings, credit, insurance, payments and pensions, which are relevant, appropriate and affordable for the entire adult population, especially the low-income segment” (EFInA, n.d., p1). It requires that financial services (bank accounts, credit, […]

Contactless cards can revolutionize payments in Nigeria

The ease and speed of a payment method are directly proportional to its adoption. Although payment with cards has been growing at about 100% CAGR over the last three years, all you need to do is stand behind that smug, self-entitled millennial stamping her feet while waiting for a purchase to finish to know that […]

10 predictions for digital payments in 2019

2018 was an exciting year for payments in Nigeria. Tons of cash came in as international investments; interbank transfer crossed 700 million transactions, even mCash had a little showing. Of course, the bitcoin bubble made a loud burst with many licking their wounds. As usual, the following are my 10 predictions for 2019. They are […]

I didn’t do too bad predicting digital payments for 2018

Last year, I wrote about 10 predictions for digital payments in 2018 (better to read this first). Looking back, I can assure you, my career as a seer hasn’t been as illustrious as I planned it to be. So how bad am I? Let’s take a look at how I scored myself. Alat gets a (bigger) […]

Credit bureaus are holding back digital lending in Nigeria

I was at a recent event organized for alternative lenders, mostly digital lenders serving individuals and SMEs. The engagements were eye-opening even though I was already conversant with most of the issues raised. Nevertheless, one of the nagging problems kept nagging me after I left that day. Everyone was complaining about how difficult it was […]

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