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Double digit growth far below Nigeria online potentials

The Country Manager for PayU Nigeria, Ms Juliet Nwanguma, has asserted that potentials in the Nigeria’s online payment market are above double digital growth, reports ITRealms.

According to her, in a country of over 180 million people, consisting of 61 million active bank customers and where e-payment transactions are worth N56 trillion in a year, the potentials for online payments in Nigeria is huge and waiting to be tapped.

She also revealed to ITRealms that the mission of PayU is to leverage on Nigeria’s 97 million active internet users to popularise and increase online payments in Nigeria.

“At PayU, we believe that with the deployment of appropriate strategies and products which are designed to encourage more businesses to adopt online payment, the market in Nigeria can record triple digit growth in both volume and value of online payments. This is the driving philosophy of PayU’s operations in Nigeria” she said.

ITRealms recalls that since last year when PayU entered the Nigerian market, it claims to have used the globally tested products such as tokenisation, recurring payments for subscription services and single click payments for faster checkout.


Nonye Dom/GEE
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