Exclusive: How a six-week freeze on customer onboarding slowed card demand for OPay and Moniepoint
Nigeria's central bank's freeze on customer onboarding led to a decline in card demand for Opay and Moniepoint. Opay and Moniepoint reduced the number of cards dispensed to agents.
Shifting Tides: Nigerian Banks Embrace Local Card Schemes Amidst Changing Consumer Behav
Banks in Nigeria are adopting local card schemes like Verve, moving away from international giants such as Visa and Mastercard. The pandemic has reduced reliance on card payments, leading to the popularity of bank transfers.
OPay and Moniepoint issue 17 million Verve cards as Nigerian fintechs switch from Visa and Mastercard
Nigerian banks are issuing local cards like Verve instead of international card schemes like Visa and Mastercard. The COVID-19 pandemic and cash shortages have reduced reliance on card payments and increased the popularity of bank transfers.
