Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape - Consumer Survey
III: FinTech adoption has been driven by referrals, with women playing a critical
role in adoption, especially around savings products
FinTech referral in Nigeria
55% of customers
heard about FinTech products through a
friend
65% of women
using FinTech in Lagos heard about a
FinTech product through their friend
60% of women
using FinTech in the North heard about
products through referrals
Products often referred
Savings
Wallet
°
Customer quotes
I joined because my friend sent me a
referral code and when I invited
someone else, I got N1000 reward
Piggyvest customer,
Lagos
We all entered Quickteller's customer
referral to win NGN 1M. So I
registered a lot of people
Quickteller customer,
South
Accounts
My friends share any promo they have
with me. It's part of the sisterhood
Cowrywise customer,
Lagos
Source: Customer interview and survey (n=215), Nigeria - 49% females and 51% males
EFINA
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