Domestic mobile payments to reach 203 bn in five years


Nigeria’s domestic mobile payments is estimated to be the fastest by 2024, according to a new data from Juniper Research.

The report published on Monday noted that domestic Peer-to-Peer payments will drive this growth; accounting for 80 per cent of all domestic transfers in 2024.

The study found that operator-driven mobile money solutions would boost financial inclusion at a rapid rate, and that the volume of domestic mobile payments is estimated to grow by 56 per cent to reach 203 billion by 2024.

According to the new research entitled, ‘Digital Money Transfer & Remittances: Domestic & International Markets 2019-2024,’ domestic transfers are being driven by increasingly easy mobile payment systems.

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