Interpreting trends in Nigeria’s payments acquiring sector

Mastercard commissioned Genesis to conduct a landscape analysis of Nigeria’s payments acquiring sector that provides insight for market participants.

The exercise involved the use of primary and secondary research methods to answer key questions on emerging trends in the West African country’s payment scene. To do this, Genesis partnered with a local survey administrator to interview 150 merchants across Lagos and Abuja. They also carried out secondary research, analysed the results, and leveraged in-house expertise to visualise and interpret the output.

The outcome of the project was a report that explored the following topics:

• Emerging technology trends.
• Regulatory direction and trends, especially within the context of financial inclusion and cashless policy.
• Merchant behaviour, preferences, needs and pain points.