Making Mobile Money More Effective in Nigeria

Monday, April 7, 2014

A recent survey that showed that 37 per cent of Nigerians are not aware of mobile money and as such, do not use the payment platform, is worrisome.

According to the report by Philip Consulting, out of the remaining 63 per cent respondents that knew about mobile money, 31 per cent were between the ages of 26 and 35 and constituted the majority.

Also, 15 per cent were between 36 and 45 years, 10 per cent between 18 and 25 years, five per cent between 46 and 55 years and one per cent each for the under 18 and over 55 years age group.

“The result of this survey demonstrates that although most of the respondents know about mobile money, adoption of its services is low because many of them are not registered and thus do not use the service,” it stated.

Source: This Day Live (link opens in a new window)

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digital payments, financial inclusion, mobile finance, mobile money