Contactless payment adoption in Nigeria remains slow despite being a necessity, highlighted at BusinessDay’s Future of Payment Conference 2025 (#NigeriaNews). Visa, Verve, and Mastercard lead the market, with over 70 million contactless cards issued. Lack of trust and awareness are key barriers.
Contactless technology is crucial for seamless transactions but requires consumer trust and incentives. Experts suggest partnerships and market readiness as enablers. Digitally active youths in Nigeria could drive adoption (#AbujaNews, #LagosNews).
Key Takeaways:
- Lack of trust and awareness hinders contactless payment adoption.
- Partnerships are vital for successful integration.
- Young, tech-savvy Nigerians could boost usage.
Question: How can financial institutions in Nigeria better educate consumers on the safety of contactless payments?
Read more here.
