Nigeria FinTech Landscape - Impact Assessment
FinTech have enabled the rapid growth of e-commerce, travel, mobility and
agriculture over the last 3 years (1/2)
E commerce
Travel &
Hospitality
How Nigerian FinTech have enabled growth
■
Facilitated easy access to accepting online
payments by e-commerce merchants e.g.
Flutterwave and Paytstack
Provides insight on business performance e.g.
Paystack
Enables growth of e-commerce businesses
through working capital financing e.g. Lidya
■ Create solutions to enable sale of airline tickets
& hotel bookings online e.g. Quickteller
Enable local and international airlines receive
payment from online customers e.g. Flutterwave
Example of impact
■
Paystack & Flutterwave
have:
Cut down time to setup
online payments from ~
3 months to 15mins
Lidya & Lendigo have
issued over 5 thousand
loans to small e-commerce
merchants
Growth in online air travel
booking penetration from
0% to 13% over 12 years
enabled by digital payment
solutions
■ Enabled growth of online.
travel merchants e.g.
Wakanow,, Travelstart ng
Global Examples
-
Stripe, US:
Enables online payment
processing for internet
businesses
Kabbage, US:
Offers quick, flexible
lending/funding solutions
for businesses
■ Monzo, UK:
Allows for online and card
payments in any country at
no charges
SOURCE: Company Websites, Press Search
EFINA
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