Mobile Payment E1372876753138

Online Payments in Nigeria – RECAP – November 25th MobileMonday Nigeria event

The Day kicked off with attendees turning up around 4:30pm for check-in and registration and at 5:00pm, the event got off to a flying start with pre-event networking between the attendees. The pre-event networking helped create some conversation about the theme of the day which was “Online Payments in Nigeria”. The speakers for the day were Oladipo Olasemo (Mobile Monday Nigeria & Synkron Solutions Limited), Andrew Faluyi (Volunteer at Mobile Monday Nigeria & Student of Insurance at University of Lagos) and Tim Akinbo (TimbaObjects Technologies Limited).

The first presentation was made by Oladipo Olasemo and it focused on “Web Versus Mobile Payments in Nigeria”. The data presented  aimed at showing a comparison between “Web Payments” and “Mobile Payments” with the latter specifically meaning “MobileMoney Payments”

The Story of Mobile Money so far (2012 – date): Subscribers – 9.9m, Total agents – 67,494, Total Volume of transactions – 11m, Total Value of Transactions – 105bn (Transaction values denoted in Nigerian Naira)

He spoke about the value chain within the Mobile Money ecosystem, services that can be provided using MobileMoney, regulatory framework, The various MobileMoney models and the challenges.

The Challenges hampering nationwide MobileMoney deployment: Inadequate capital, Infrastructural Challenges, Lack of awareness, lack of a wide-spread agent network, Interoperability between various MobileMoney operators

Next up

Presentations

Online Payment Processors in Nigeria – Andrew Faluyi

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Web Versus Mobile Payments in Nigeria – Oladipo Olasemo

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Bitcoin: Alternative Money – Tim Akinbo
Download for free if you pay with a Tweet!

 

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