NigeriaDemerge Nigeria Limited is a limited company incorporated in Nigeria and licensed by the Central Bank of Nigeria as a Payment Solution Service Provider
Market Overview
eCommerce market revenue is expected to grow at a rate of 10.81% per year (CAGR 2023-2027)* * Source: Statista, 2023
Download Country Payment Handbook-
Population: 236.74 M *
Approximately 17% of Nigerians own credit cards.
* Source: Worldometers 2024.
-
eCommerce: 19.6B *
Nigeria is expected to achieve $10,030.00 million in eCommerce market value by 2027*
* Source: researchandmarkets, 2024
-
Internet users: 55.4% *
Smartphone penetration is at 56% among Nigerians, this is why payment methods such as mobile money are important.
* Source: datareportal, beginning of 2024.
Gain insight into Nigeria's most relevant payment methods
- 22% Bank Transfer
- 16% Internationally-enabled credit card
- 15% Cash payments
- 15% Mobile money
- 14% Debit Cards
- 14% eWallets
- 7% Cash on Delivery
- 2% Domestic only credit card
- 2% Buy Now Pay Later
Most commonly used options
-
OPay
Omnichannel -
Paga
Cash-based payments -
Verve
Credit and debit cards
-
Credit and debit cards
Play like a local by offering traditional payment methods.
-
Visa -
Mastercard -
Verve
-
-
Wallets
Learn moreTackle all audiences.
-
OPay - Paga
-
-
Bank Transfers
Learn moreCount on a wide variety of options to drive conversion.
- Zenith
- GT Bank
- Unity Bank
- First Bank
- Sterling Bank
- Providus Bank
- Access
- Okra
- Regular Bank Transfers
-
Latest about Nigeria
Visit Blog-
How gamers play and pay in emerging markets
Press play on your expansion into Africa, Asia, and Latin America by localizing your payment options.
Learn more -
Utilizing alternative payment methods: succeed in Kenya and Nigeria’s $15 billion eCommerce market
Africa can be an intriguing region for eCommerce markets. Especially countries such as Kenya and Nigeria, two of the biggest economies in the continent.
Learn more -
How Nigerian Cashless Policies are Driving the Mobile Money Boom
Withdrawing up to N2 million from banks over-the-counter has become a distant memory for Nigerians due to the government’s redesigned banknotes and imposing of cash withdrawal limits.
Learn more
The ultimate country Payment Handbook to unlocking eCommerce growth in Nigeria
Saudi Arabia
Cameroon
Ivory Coast
UAE
Egypt
Ghana
Kenya
Morocco
Rwanda
Senegal
South Africa
Tanzania
Türkiye
Uganda
Bangladesh
China
Philippines
India
Indonesia
Japan
Malaysia
Pakistan
Thailand
Vietnam
Argentina
Bolivia
Brazil
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Honduras
Mexico
Nicaragua
Panama
Paraguay
Peru
Dominican Republic
Uruguay
