Payment Solutions in Nigeria

Territories - Africa

Nigeria’s Gateway to Easy Payments

UBank Connect helps you reach more customers in Nigeria by offering seamless mobile payments like OPay and NQR, plus local bank transfers—trusted, fast, and built for business growth.

Nigeria is Africa’s largest economy and one of the fastest-growing digital payment markets in the world. With over 200 million people and an internet penetration rate surpassing 50%, Nigeria is experiencing rapid digital transformation. According to a 2024 report by Statista, the Nigerian digital payments market is projected to grow at a CAGR of 15.3% over the next five years, driven by increasing smartphone adoption and government initiatives supporting cashless transactions.

Mobile money services like OPay, Paga, and Quickteller have revolutionized how Nigerians send and receive money, while bank transfers remain a trusted method for businesses. However, merchants and service providers face challenges such as fragmented payment channels, regulatory complexities, and the need for secure, seamless processing to tap into Nigeria’s full potential.

Market Overview

Population

237.5 million
Online Population

107 million
Currency

NGN

e-Commerce Market Value

$7.04 billion
GDP

$441 billion
GDP per Capita

$2,200

Available Payment Methods

UBank Connect’s payment gateway provides businesses in Nigeria with a secure, reliable, and unified platform to accept a variety of payment methods—including mobile wallets, bank transfers, and card payments. Whether you’re a startup or an established enterprise, our tailored solutions remove payment barriers and unlock new growth opportunities in Nigeria’s dynamic economy. Streamline your payments and expand your reach with seamless integration, robust security, and local expertise—designed to power your business growth in Africa’s largest market.

Why choose UBank Connect?

Direct connection to banks
Dedicated bank account(s)
Local technology and operations team
Flexible and competitive rates
Global reach with a single API access
Support in emerging markets

Key Takeaways

Nigeria’s eCommerce market is booming, expected to reach over $50 billion by 2025, fueled by growing internet access and smartphone usage.
Mobile wallets like OPay and NQR are widely adopted, offering convenient, real-time payment options for consumers and businesses.
Bank transfers remain a trusted payment method, especially for higher-value transactions and business-to-business payments.
The Central Bank of Nigeria supports financial inclusion through initiatives encouraging cashless transactions, boosting digital payment adoption.
Despite rapid growth, challenges like payment fragmentation and regulatory compliance still require unified, secure payment solutions for merchants.

Get started today!

Discover how UBank Connect can enhance your payment solutions in Nigeria. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.

Territories - Africa

Nigeria’s Gateway to Easy Payments

UBank Connect helps you reach more customers in Nigeria by offering seamless mobile payments like OPay and NQR, plus local bank transfers—trusted, fast, and built for business growth.

Market Overview

Population

Online Population

Currency

e-Commerce Market Value

GDP

GDP per Capita

Available Payment Methods

Why choose UBank Connect?

Key Takeaways

Get started today!

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