Monday, August 11, 2008

E-commerce in Nigeria

E-commerce development has been painfully slow in Nigeria, given the lack of epayments infrastructure. ReLoadNG is already proving popular - you can use your local bank Interswitch card to buy PHCN and phone credit. Given there is no real-time reconciliation with the telcos apparently available, the system works by the company having sufficient scratch cards in stock. Its a clever work around. If they introduced a Visa or Mastercard Merchant alternative, relatives overseas could pay for credit, top up on electricity tokens etc.

Wishstop is another promising looking online shopping site.

With increasing numbers of people using Interswitch to buy their local air tickets online, e-commerce is gradually growing. A lot more could be done by the banks to speed things up however - such as rolling out wireless point of sale terminals among their commercial retail clients.


Oluniyi David Ajao 11:52 pm  

The interesting thing is that may of the websites featured on InterSwitch website as merchants have dead websites or expired domain names.

Kiibaati 2:32 am  

This e-biz thingy is just not working here and you would wonder why, considering we all carry interswitch debit cards.

I'd say (1)Dearth of high speed reliable broad band connections
(2)Poor customer service by interswitch and banks (3)Myth-i-fication (is that a word?) of online fraud risks (At least two banks recently shut down there online portal in response to fraud attacks)(4)Absence of Big Business involvement on the merchant end.

Geneva Smith 10:53 am  

Since e-commerce started being a trend in 1996, all businesses had something new to worry about i.e. the Internet. This also led to the rise of ecommerce development company which together reduced the world to one single market.

Term papers 1:17 pm  

It is glad to see this blog, nice informative blog, Thanks for share this article.I'm very thankful to the author for posting such an amazing development post.

Amber Wentworth 5:27 am  

Ecommerce in some countries like Nigeria is still a real challenge, when infrastructure is not in place and that there are still levels of unsecured checks and balances to ensure that money is fully accounted for. I do think that for ecommerce to flourish, there should be a certain level of security that needs to be installed and attained.

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