Nigeria’s emerging middle class will have purchasing power of $28 billion in the next four years and merchants need to heed the call. A key demographic for retailers, the Nigerian middle class is hungry for consumption and the penchant to consume is divided equally between malls and mobile. The January edition of the PYMNTS X-Border Payments Optimization TrackerTM dissects the average Nigerian consumer’s propensity to spend and preferences to buy – and a call to action for merchants interested in serving this burgeoning cross-border consumer.
Creating Digital Silk Roads
From a trading framework proposal between Kenya and Ghana to the Indian government setting up a B2B portal for international eCommerce, technology and higher disposable incomes are slowly reducing barriers to trade. This edition of the tracker features joint ventures, partnerships and initiatives by governments to promote cross-border trade – the digital way.
Tracker Updates
In this issue, we’ve profiled 65 global payment service providers, including six new players: American Volume, BluePay, ecoPayz, GoCardless, Intelligent Payments and Transpay. Within the existing provider directory, we updated four players, which also slightly affected their overall optimization scores. Allied Wallet and 2000Charge were adjusted for developer features and solutions. Payvision was updated to reflect offerings within omnichannel. Finally, Vantiv was updated to reflect new fraud features.
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