Nigeria FinTech Landscape - Impact Assessment
The Nigeria FinTech Landscape - Evolution
The FinTech landscape has evolved from focusing on B2B to a growing number of
B2C-focused and ecosystem players
2000-2007
2007 - 2018
2019 - present
Key players
Core focus
Key drivers
Regulation
Infrastructure
FinTech 1.0
System Specs UP
eTranzact»>>
UNIFIED PAYMENTS
avovations at work for you
Interswitch
■ B2B services enabling banks.
and other financial institutions
mainly in payments
Guidelines on transaction
switching
■ ATM network
Magstripe cards
FinTech 2.0
paga cellulant
Paystack
your cash, anywhere, anytime
FlutterwaveⓇ
life is mobile
piggyvest
10
CowryWise
P
carbon
■ B2C players focused on specific niches,
leveraging enabling infrastructure (BVN,
Instant payments, etc)
Cashless policy, SANEF (Financial
inclusion); BVN
"
EMV card issuance
■ POS terminals
OPay
FinTech 3.0
JUMIA
palmpay ONE
Ecosystem players offering
array of financial and non-
financial services e.g. ride-
hailing, music
■ Payment Service Banks (PSB)
NA
■NIBSS Instant Payment
■
MasterCard Gateway services
EFINA
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