Much as mobile money has been largely embraced throughout Africa, Nigeria is one of the few countries where the phenomenon has been rather subdued. This can be attributed to the influence of the Nigeria commercial bank (NCB) that opted to have licensed banks handling online money movement through the various cards (VISA, MasterCard and Verve) rather than using telecommunication companies. The major reason being the need to ensure safety against money laundering and maintain control of the money within the economy.
For businesses intending to partake in transactions within the Nigeria, it is essential to acknowledge that online banking and the card system are the way to go in order to liaise with the people. Any form of drastic adjustment could result in a severe resistance from people.
A challenge that could possibly arise is that companies coming to Nigeria might not be a part of the various banks in the country (Zenith bank, Citi bank ,Access bank etc) or not accustomed to their card system for that matter which complicates how accepting payments could occur.
Fortunately, businesses need not worry about the troubles of joining local banks as well as their card systems because DUSUPAY offers an absolute solution by enabling companies to accept payments through their integrations which bring together all major banks and card systems ensuring that the Nigerian community pays using systems convenient to them and as well, companies accept payments easily from all the various modes through the use of DUSUPAY.