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Nigerian fintech provider Contec Global InfoTech has introduced NowNow, a new Commodo SSL-certified and PCI DSS compliance consumer mobile wallet to improve financial inclusion in the country.
NowNow enables customers to send/receive money, pay bills, utilities and pay@shop directly to merchants, without entering the card details each time before making the transaction, thereby minimizing the risk of exposing bank account details.
The new m-wallet ensures safer transactions and is licensed under the Central Bank of Nigeria. Any individual using a smartphone and access to internet can recharge the wallet and thereby removes the burden of carrying physical debit cards.
The Nigerian mobile payment market is expected to record a CAGR of 59.2% from 2017-2021 to reach US$ 59,719 million in transaction value terms by 2021, increasing from US$ 9,293 million in 2017. In 2016, the market registered a growth rate of 75.2% over 2015, to reach US$ 5,426 million.
To know more and gain deeper understanding of mobile payment industry in Nigeria, click here.
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