DUBLIN--(BUSINESS WIRE)--Jul 30, 2019--

The "Nigeria Mobile Wallet and Payment Market Opportunities (Databook Series) - Market Size and Forecast across 45+ Market Segments" report has been added to ResearchAndMarkets.com's offering.

In Nigeria, cash still dominates retail payments, but digital transactions, especially mobile payment are growing strongly.

A significant share of Nigerian population remains either unbanked or underbanked. Nigerian citizens often neglect banking and prefer storing cash or use local solutions for making transactions such as community banking.

The Central Bank of Nigeria has targeted financial inclusion with the help of SANEF, a network of 500,000 agents. By extending the core financial services, the bank aims to achieve a minimum of 80 percent financial admittance by 2020.

The 21 licensed mobile money service operators present in Nigeria have achieved different levels of success. However, the telecom operators are struggling to get license for introducing their respective mobile money services.

Paga launched its services as Nigeria's first licensed mobile money platform. It was launched only 9 years ago. Today, while many other mobile money platforms have been launched in the Nigerian market, Paga dominates with 8,000,000+ users.

Major players in Nigerian mobile payment market include Paga, PocketMoni, and VCash.

According to the author, the mobile payment industry in Nigeria is expected to record a CAGR of 25.6% to reach US$ 73,871.9 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 25.7% during 2018-2025.

This report provides a comprehensive view on mobile payment/mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in Nigeria. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks.

It details growth dynamics in 45+ market segments (600+ KPIs) across mobile commerce, mobile P2P transfer (domestic and international remittance), mobile lending, and a range of other payment avenues in Nigeria.

Report Scope

This report provides in-depth market opportunity analysis and growth dynamics of mobile payment industry in Nigeria. Below is a summary of key market segments:

Market Size and Forecast

Mobile payment and mobile wallet market size and forecast across 45+ markets segments on three essential KPIs - mobile payment transaction value, volume and average transaction value.

Nigeria Market Share of Key Mobile Wallet Companies

Provides market share by key players in value terms.

Nigeria Market Share by Mobile Payment Technology: Provides market share by key mobile payment technologies:

  • SMS/USSD
  • NFC
  • Code Based
  • Web Based

Nigeria Mobile Proximity Payment Market Size and Forecast

Mobile payment and mobile wallet market size and forecast by mobile proximity payment.

Mobile Wallet Usage Analysis by Consumer Profile: Drawing from proprietary survey results, this report identifies and interprets key mobile payment KPIs, including spend by age, gender, and income level in both value and volume terms.

Retail Spend Analysis through Mobile Wallet: Breaks down retail spend across 10 categories to provide detailed insights on consumer behaviour and changing dynamics of spend through mobile wallet. Retail spend categories tracked include food and grocery, health & beauty, apparel and footwear, books/music/video, consumer electronics, pharmacy and wellness, restaurants & bars, toys, kids & babies, media and entertainment, services

Nigeria Mobile Retail Shopping Market Size and Forecast (2016-2025)

Market opportunity and growth dynamics in retail shopping by mobile payment transaction value, volume and average transaction value across following segments in Nigeria

  • In-Store Retail
  • Online Retail
  • - Domestic Online Retail
  • - International Online Retail

Nigeria Mobile Travel Booking Market Size and Forecast (2016-2025)

Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across following mobile travel booking segments in Nigeria

  • Offline Travel Booking
  • Online Travel Bookings
  • - Online Flight Bookings
  • - Online Bus & Train Bookings
  • - Online Hotel Bookings
  • Online Domestic Travel Bookings
  • - Online Domestic Flight Bookings
  • - Online Domestic Bus & Train Bookings
  • - Online Domestic Hotel Bookings
  • Online International Travel Bookings
  • - Online International Flight Bookings
  • - Online International Bus & Train Bookings
  • - Online International Hotel Bookings
  • Spend During Travel
  • Transit & Toll - Metro & Cabs Bookings

Nigeria Mobile Domestic and International Remittance Market Size and Forecast (2016-2025)

Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across the following domestic and international remittance segments in Nigeria

  • Domestic Remittance (P2P)
  • - Intra City P2P
  • - Inter State P2P
  • International Remittance
  • - Outbound Remittance
  • - Inbound Remittance

Nigeria Mobile Recharge, Bill Payment, and Other Payment Market Size and Forecast (2016-2025)

Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across the following mobile recharge and bill payment segments in Nigeria

  • Insurance Payments
  • Fuel Bills
  • Healthcare and Wellness Bills
  • Rental Payment
  • Mobile Recharge/Payment
  • DTH Recharge/Payment
  • Broadband/Data Cards Recharge/Payment
  • Landline Recharge/Payment
  • Credit Cards Payment

Nigeria Mobile Financial Services Market Size and Forecast (2016-2025)

Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across the following financial services segments in Nigeria

  • Investment Payment
  • P2P Lending
  • Charity and Crowd Funding
  • Social Gifting
  • Fee
  • Person to Government (P2G) Payment

Companies Mentioned

  • Paga
  • PocketMoni
  • VCash
  • U-Mo
  • IBTC
  • Fortis Mobile Money

For more information about this report visit https://www.researchandmarkets.com/r/z256kb

View source version on businesswire.com:https://www.businesswire.com/news/home/20190730005594/en/

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Related Topics:M-Commerce,Bank Cards,Mobile and Contactless Payments

KEYWORD: NIGERIA AFRICA

INDUSTRY KEYWORD: ONLINE RETAIL RETAIL TECHNOLOGY MOBILE/WIRELESS

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 07/30/2019 08:20 AM/DISC: 07/30/2019 08:20 AM

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