Nigeria eCommerce Market
A large untapped market dominated by alternative payment methods
Over half of Nigerian adults lack access to financial services and only 3% have credit cards. Alternative payments are substantial to succed in this market.
Market Overview Nigeria
The New Central Bank of Nigeria aims to transform the country into a 'Cashless Nigeria' by reducing the amount of physical cash and encouraging the adoption of electronic-based transactions.
Nigeria's eCommerce market is expected to continuously grow over the next couple of years.
Nigerian eShoppers have a strong inclination to domestic eCommerce purchases using cash.
Smartphones, with a penetration of 56%, are the main internet access point. Mobile optimized checkout flows are key to enter Nigeria's eCommerce market.
Nigeria's eCommerce payment mix
Improve your payment acceptance by offering local payment methods in Nigeria
Gain insight into Nigeria's most relevant payment methods
Local payment methods are essential to boost your sales in Nigeria
Online bank transfers
Bank transfer: Banks like Ecobank and Access simplify bank transfers which account aproximately 22% of the eCommerce sales.
Credit & Debit Cards
Local credit and debit cards hold more than 29% of the total eCommerce sales.
