TPAY Mobile to launch in Nigeria after reaching agreements with telecom operators

By David Whitehouse
Posted on Wednesday, 27 July 2022 06:00, updated on Thursday, 28 July 2022 16:12

TPAY Mobile has reached agreement with major mobile phone operators in Nigeria. REUTERS/Nyancho NwaNri

TPAY Mobile, a mobile payments platform based in the United Arab Emirates, plans to launch in Nigeria after reaching agreements with major telecoms operators in the country, chief product officer Raj Soni tells The Africa Report.

“We are ready with the carrier infrastructure,” and TPAY has invested in building technical capacity, Soni says. The Nigeria business launch is planned to take place in coming weeks.

Global merchants are trying to gain access to the Nigerian market, where the median age of the population of over 200 million people is 18 years. Amazon is reported to be planning to expand into Nigeria in 2023. According to Credolab, the country’s Internet penetration stands at 51%, but about 90% of the population has a mobile phone. About 38m adults in the country are completely financially excluded, Credolab says.