Not tapping into the advantage of using e-payment system is bad for your business. In today’s world of Electronic Payment Systems in Nigeria, your business will do better with e-payment. With many consumers demanding for your products and services, get your business on board.
Over ₦20 Trillion per month are spent through the various available payment systems in Nigeria. Be it through POS payment, web payment or mobile payment in the country. Literally, almost everyone is getting involved in the Nigeria Payment Systems.
Recent statistic about the growth of Electronic Payment Systems in Nigeria has shown that there have been a significant rise in the use of various payment systems in Nigeria.
Types of Payment System in Nigeria
We have read a lot about the Payment Systems in Nigeria focusing mainly on the payment system providers. These payment system providers makes it easy and more comfortable for you and me to make and receive payments. There services range from switching payment to processing the payments.
There comprises FOUR important stakeholders that makes the system to work perfectly well. These four elements are
- The Users (Individuals or consumers, businesses, governments and agents)
- Payment Service System Providers (Channels – POS, ATM, Processors)
- The Infrastructure use in the system (Cards)
- Regulator (CBN)
I have looked into all the payment systems providers and the entire payment system in Nigeria. One thing that is certain is – the ONLY interest they all have in the business is the income that comes in as revenue. Yes, revenue is important in a business. But they fail to realise that customer satisfaction bring in more revenue to any business.
Read more about – Customer Satisfaction: How satisfied are your customers
It is now our time – you and me to get involve in Nigeria Payment System. How do you get involved? As each day pass, you spend your money. Am I right? You either spend your money using your cash, use your plastic (debit or credit) card or use mobile money transfer.
It is a known fact that there are income that can be generated by individuals in the payment system.
Literally, you too can get involve in the Nigeria payment. HOW?
Various experience on the Nigeria Payment System have not been palatable to various people. Why?
ATM not working
POS not accepting payment
No mobile network on phone to make transfers; or
No internet connectivity to make web payment.
You can also read more about The Nigeria Payment Systems