Nigeria Cards and Payments Market Future Growth: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Buy Now According to the report analysis, ‘The Cards and Payments Industry in Nigeria: Emerging Trends and Opportunities to 2020’ states that the Nigerian payment cards market is projected to slow down, as a result of a ban imposed by the Central Bank of Nigeria (CBN) during December 2015 on the use of debit and credit cards abroad, and on transactions denominated in foreign currencies. This safeguarded the Nigerian consumers from utilizing cards to make purchases throughout overseas travel, or from foreign e-commerce sites. However, following a severe customer backlash, the ban was partially revoked during January 2016, with banks allowing consumers to utilize the foreign exchange services, but with restricts on transaction values. In January 2016, for instance, GTBank allowed customers to transfer foreign currency via online banking, its mobile app, or at any branch nationwide, subject to a daily restrict. Similar restrictions were compulsory by other banks, such as First Bank of Nigeria and Sterling Bank. Yet again, with the intensifying foreign exchange crisis, in October 2016 GTBank, Standard Chartered Bank Nigeria and Stanbic IBTC Bank suspended usage of payment cards abroad and for the online transactions. Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=OTE5Mjc= While banks in Nigeria still aim on traditional bricks-and-mortar branches to convey services, SunTrust Bank launched a mobile-only bank during 2016, enabling the consumers to conduct transactions decently by mobile phone. Another digital bank, Lidya, was introduced during 2016; it proposes an online platform for customers to open bank accounts, admittance credit and save money. Furthermore, the bank focuses to partner with other bricks-and-mortar Nigerian banks to deliver an online platform to small and medium-sized businesses (SMEs). The advent of mobile-only banks is likely to quicken a shift towards electronic payments around Nigeria. Alternative payments that propose the security and convenience are gradually obtaining the prominence in Nigeria, with banks and payment solution providers launching services. The newest of these is the launch of MasterPass by Mastercard in association with Ecobank during 2016. Similarly, Visa and Nigeria-based technology company JORG Technologies launched mVisa and Nairabox respectively in the similar year. Other alternative payments obtainable in the market include Pay Attitude by six banks: UBA, Access Bank, FirstBank, Zenith Bank, Skye Bank and Diamond Bank, Verve World and PayPal. Although, the effective growth in demand for cash alternatives and obtainability of affordable credit cards across the Nigeria boost the growth of the Nigeria cards and payments market size. In addition, augment in demand for card among the several nations positively impacts the growth of the market. However, aspects such as growth in credit card frauds across the Nigeria is projected to limit the card and payments market growth. On the contrary, technological innovations in product offering like utilizing the blockchain for augmented security is projected to propose the remunerative opportunities for the enlargement of the market throughout the coming years. Therefore, it is predicted that during the review years the market of card and payments will increase around the Nigeria more efficiently over the near years. For More Information on the Research Report, refer to below links: – Nigeria Cards and Payments Market Related Report: – Saudi Arabia Cards and Payments Market Outlook to 2023 – Increasing Penetration of Islamic Credit Cards Coupled with Rising Preference for Online Shopping to Drive Market Growth Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Follow Us: – LinkedIn | Instagram | Facebook | Twitter | YouTube Post Views: 2 Tags: COVID-19 Impact on Nigeria Cards and Payments Market, FirstBank Nigeria Cards and Payments Market Share, Future of Nigeria Cards and Payments Market, GTBank Nigeria Cards and Payments Market Revenue, Insights on the Nigeria Cards and Payments Market, Interswitch Nigeria Cards and Payments Market Sales Growth, Nigeria Cards and Payments Industry, Nigeria Cards and Payments Industry Research Report, Nigeria Cards and Payments Market, Nigeria Cards and Payments Market Analysis, Nigeria Cards and Payments Market End Users, Nigeria Cards and Payments Market Forecast, Nigeria Cards and Payments Market Future Outlook, Nigeria Cards and Payments Market Growth Rate, Nigeria Cards and Payments Market Major Players, Nigeria Cards and Payments Market Report, Nigeria Cards and Payments Market Research Report, Nigeria Cards and Payments Market Revenue, Nigeria Cards and Payments Market Share, Nigeria Cards and Payments Market Size, Report on Nigeria Cards and Payments Market