“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.