12:00 PM - 1:00 PM
Hosted by ESL
To Be Announced
The introduction of online transactions and mobile banking in Nigeria has paved way for a new era of development where the use and demand for physical cash is gradually declining. These recent evolution of technology in the Nigerian financial institutions poses interesting questions for entrepreneurs and small business owners. some Nigerians and Africans doubt if the Cashless Economy is possible.
The worldwide expansion of the internet has considerably contributed to the transformation of how buying and selling occurs. With an approximate projection of 18.28 billion payment cards in circulation by 2016.
However the current e-commerce statistics states that 40 percent of worldwide internet users have bought products or goods online via desktop, mobile, tablet or other online options, amounting to more than 1 billion online buyers.
Online payment in Africa has not quite caught up with the pace of the rest of the world. However, the above statistics ring very true for Africa.
Huge investments are being made by credit card companies to propel Africa into a cashless continent. Programs like MasterCard’s pricelessafrica and Visa’s partnership with a host African companies show their determination to maintain their dominance of online payments and mobile payments in Africa.
Change is inevitable as the benefits of online payment becomes more visible and prominent to the average African. Is the cashless economy possible in the African context (local businesses and market)? What the future of online payments holds?
Oladapo Ajayi founder Superdao.io
Olaolu Awojoodu CEO ESL GROUP.
Uzebu Uwa Director Director Acceptance Development MasterCard.
Tim Akinbo CTO
Venue : Idea Hub Yaba, Lagos.
About Electronic Settlement Ltd.
Electronic Settlement Limited (ESL) is an indigenous information systems management company with over four years of experience revolutionizing the IT and payment industry.