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Top 3 E-Commerce Payment Methods Available In Nigeria

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Payment Service Providers or Payment Gateways have historically been the technical link between the online shop of the merchant and the transaction processing banks. Many of them are currently licensed processing firms, operating on a global scale, collecting and settling merchant funds. Here is a broad classification of payment methodologies which are used across Online Payment Platforms in Nigeria .  1.  Card Payments:   Cards can be safely termed as ' electronic key' to the bank account of the consumer. They are mainly divided into:  Debit card. Credit card  Prepaid card with a stored value.  Cards can be used to 'unlock' the internet merchant and pass cash to the shoppers. Debit cards are used most extensively of all the options mentioned above. Local banks issue them on behalf of card companies like Visa, American Express, MasterCard, Verve etc. to name a few. 2.  Digital Wallet based payments:  Digital wall...
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Financial inclusion in the Banking Sector: A Growth Opportunity for Banks

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The Financial Inclusion in Banking Sector offers the banks a global opportunity to expand at a rapid pace. Financial inclusion plays an important role in reducing the distance between the banks and the customers and helps in building a strong relationship. With inclusion, banks can also reduce their risks and become more stable. The banks will be able to expand their customer base as well as their revenues.  The opportunities that can be availed by the banks through financial inclusion include: Wider Customer Base With the financial inclusion process, the banks get a wider scope to broaden their customer base. With more customers come better revenues for the financial institutions. The financial inclusion is also an opportunity for the banks to enhance their overall performance. Access to the wide customer base helps in minimizing the transaction costs and brings about enhancement in the overall efficiency. A better understanding of the inclusion system can even as...
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Location: South Africa
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