Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape - Consumer Survey
II: Players like OPay and Quickteller became relevant to users by addressing
critical use cases and adapting their products to local context
OPay and Quickteller successfully penetrated the market with high customer recognition and usage through relevant use cases,
customer education and local context adaptation
Use case
Customer education
Contextualization
1.
Based on customer survey responses
OPay focused on offering transportation and food which account for ~50% of spending at
discounted prices to capture customers
Quickteller gained customer across the country through its use case of bill payments such as electricity
bill, cable, internet as well as wallet payments for airtime and data top-up
OPay invested in customer education by employing 10,000 agents who acted as foot soldiers to
educate customers on OPay products
Quickteller rolled out a vast network of "Paypoint agents" and recruited members of the community
(business owners, NYSC members, job seekers etc.) to be agents, educating customers on
Quickteller usage and incentivizing individuals to register and enroll new customers onto the platform
OPay tailored its services to local context by providing "Keke" services for transportation and Hausa
in Northern Nigeria to cater to customer needs
Quickteller leveraged partnerships with its billers to push Quickteller payment to their customers e.g.
cable providers, electricity companies, educational institutions etc.
Source: Customer interview and survey (n=215), web search, team analysis
EFINA
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