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How digital wallets have boosted financial inclusion in Nigeria


Nigeria’s payment space has taken giant strides towards becoming cashless. This is largely due to the pandemic which redefined the payment experience for a growing number of people and also made various payment services easily accessible.
With the adoption of digital payment methods such as internet banking, mobile banking, Unstructured Supplementary Service Data (USSD), banking cards, etc., mobile payment in Nigeria has been growing steadily over the years.
The advent of digital wallets has further helped to bring Nigeria closer to becoming a cashless society and deepen financial inclusion in the country. Recently, we have seen the emergence of different digital wallets that have been created to bridge the financial exclusion gap, while making financial transactions easier.  According to a report by Statista, as at 2020, about 10 percent of digital payments in Nigeria were transacted through e-wallets. ....

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