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Visa Launches Report on Digital Payment Landscape in Nigeria, Shows Positive Outlook

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Visa, a global leader in payments, today announced the launch of a new report, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Nigeria,’ which highlights substantial growth potential for digital payments, particularly among small and medium-sized enterprises (SMEs).

In Nigeria, digital payments are proving beneficial for surveyed SMEs, with nearly 90% believing that it boosts revenue and customer footfall. This growing confidence in digital transactions, especially cards, is coupled with a desire for further digitization, with 76% of cash-only SMEs planning to invest in new payment technologies.

The study also reveals that more than half of merchants already prefer digital payments, with 44% reporting lost sales due to customers’ lack of cash and 62% expressing concerns over fraud risk associated with cash.

Nigeria’s Digital Payments Momentum

An overwhelmingly positive outlook on digital payment investment emerged in the report, with 83% of merchants surveyed seeing this as a crucial component for growth, boosting sales, reducing fraud, and enhancing convenience among customers,
“Nigeria’s digital payments landscape is rapidly evolving, with a growing inclination towards digital transactions,” stated Andrew Uaboi, Vice President & Head, Visa West Africa.

“This transformation not only holds the promise of bolstering SMEs prosperity but can also help the economy to thrive.

“At Visa, we look forward to working together with our partners to further drive this transformation, enabling individuals, merchants, and businesses to grow and participate in the digital economy.”

Addressing Challenges to Unlock Full Potential

Unlocking digital payments’ full potential in Nigeria will require confronting key challenges. There is an overarching need to enhance financial literacy and raise awareness about the benefits of digital payments while also incentivizing their usage among customers.

With 76% of cash-only SMEs surveyed intending to get a point-of-sale (POS) device in the near future, an opportunity emerges to accelerate adoption through simplifying onboarding.

In addition, improving infrastructure to counteract concerns around payments failures (42%) can enhance confidence in digitization. To address fraud concerns, educational campaigns are vital to highlighting the robust security features of digital payments, especially the lower fraud risk associated with card payments.

Visa’s established cybersecurity capabilities can be instrumental to building trust across the digital payments landscape in Nigeria by helping to harness confidence across both the SME and consumer segments.

The Broader Value of Digital Payment Acceptance

Digital payments are crucial for Nigerian SMEs for a number of reasons including – boosting revenue through an increasingly cashless customer base, improving customer satisfaction with faster payments, and reducing operational risks by minimizing cash handling. Digital transaction records also provide valuable data that facilitate access to financing and stimulate growth.

While cash is still seen as quick and convenient, cards offer an advantage across expense tracking, spending encouragement, and enhanced security. Meanwhile, mobile and digital wallets offer an innovative and competitive edge. Promoting the adoption of preferred methods, particularly card payments, is crucial for driving growth.

Beyond direct benefits, digital payment adoption drives economic growth and financial inclusion, by connecting the unbanked to the formal financial system and enabling access to savings, credit, and insurance.

Research shows that the transition to the digital economy can generate 1-2% annual GDP growth; a mere 1% increase in card usage generates an average $67 billion annual increase in goods and services consumption across 70 countries and territories.

Visa: A Partner in Driving Digital Payment Adoption

Visa is uniquely positioned to support Nigeria’s transition to a more digital economy. As a trusted advisor and partner, Visa offers a range of capabilities to help governments, financial institutions, businesses, and technology providers enhance their digital payment acceptance maturity.

Visa’s suite of solutions includes programs for specific merchant segments, innovations like Tap to Phone, Contactless Payments and Click to Pay, and resources educating businesses about the benefits of digital payments.

About the Visa Value of Acceptance report

Visa’s ‘Value of Acceptance: Understanding the Digital Payment Landscape in Nigeria’ report, conducted by 4Sight Research & Analytics, examines the current state of digital payment acceptance, exploring both opportunities and challenges. The findings are based on face-to-face interviews with 250 SME owners/managers who are key decision-makers with respect to day-to-day business decisions.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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WASPAN Drags Bello, FCCPB Boss to Court over Alleged Disobedience of Order

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Wireless Application Service Providers Association of Nigeria (WASPAN) has dragged Tunji Bello, executive vice chairman, Federal Competition and Consumer Protection Commission (FCCPC), before the Federal High Court in Lagos over alleged disobedience of a subsisting court order in a legal dispute involving telecom-based lending services.

WASPAN Drags Bello, FCCPB Boss to Court over Alleged Disobedience of Order

Tunji Bello, EVC, FCCPC

Wireless Application Service Providers Association of Nigeria initiated  this in Suit No: FHC/L/CS/760/2026 pending before the court.

According to court documents, Bello was issued a Form 49 Notice to Show Cause, directing him to appear before the court on 22 May 2026 to explain why an order of committal should not be made against him for allegedly failing to comply with interim orders issued by Justice Ambrose Lewis-Allagoa on 15 April 2026.

The court had earlier granted interim injunctions restraining the FCCPC, its officers, agents and privies from enforcing provisions of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 against members of WASPAN, pending the determination of the substantive suit.

The restraining orders specifically barred the commission from interfering with services rendered by WASPAN members, including airtime lending, data advances and other mobile value-added services.

The orders also restrained the FCCPC from imposing sanctions, penalties or directives connected to the disputed regulations.

In the Form 49 notice dated 18 May 2026, WASPAN alleged that despite being aware of the court orders and having been served with Form 48 — the statutory notice warning against disobedience of court orders — the FCCPC and its Executive Vice Chairman allegedly continued actions contrary to the directives of the court.

The notice stated that the alleged contemnor refused to comply with the orders and had continued to deliberately defy the orders of the court.

An affidavit of service filed before the court disclosed that Form 48 was served on Bello at the FCCPC headquarters located at 23 Jimmy Carter Street, Asokoro, Abuja, on 6 May 2026.

The latest development followed earlier proceedings in which Justice Lewis-Allagoa declined an application by the FCCPC seeking to vacate the interim injunction.

The court instead directed that the substantive suit and the commission’s preliminary objection be heard together.

WASPAN is challenging the FCCPC’s authority to regulate telecom-based lending services, arguing that certain provisions of the DEON Regulations encroach on the statutory powers of the Nigerian Communications Commission to regulate telecommunications services in the country.

Wireless Application Service Providers Association of Nigeria, is the primary self-regulatory body and trade association for licensed Value-Added Service (VAS) providers and aggregators in Nigeria’s telecommunications sector


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Lagos Warns against Fake Emergency Calls, Says Rising Misuse Put Lives at Risk

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Lagos State government has raised alarm over the  growing misuse of its emergency hotlines, and warned that fake calls are delaying response times and putting lives at risk.

Lagos Warns against Fake Emergency Calls, Says Rising Misuse Put Lives at Risk

According to the state, fake emergency calls or prank calls, account for a massive majority of distress communications—nearly 70 per cent.

This severe misuse dangerously delays response times for real emergencies like fires, crimes, and medical crises, and wastes critical first-responder resources

Olugbenga Oyerinde, commissioner for Special Duties,  called the numbers (nearly seven out of every 10 calls made to Lagos emergency hotlines) deeply troubling.

The scale of the disruption has significantly affected emergency response operations, with the government disclosing that 5.47 million incoming calls went unanswered during the period under review.

The abandoned call rate climbed sharply from 9.3 per cent in January 2025 to 37.6 per cent by April 2026, suggesting worsening pressure on operators handling emergency traffic.

Officials warned that if the current trend continues, more than 7.2 million calls could go unanswered before the end of 2026

The Lagos State Command and Control Centre serves as the central coordination hub for emergency response agencies across the state, including the fire service, ambulance services, traffic management authorities and neighbourhood safety operatives.

According to the report, the sheer volume of fake and misdirected calls has forced the system to devote significant operational resources to filtering non-emergency traffic before genuine distress cases can be handled.

To address the growing burden, the ministry said it plans to introduce artificial intelligence-driven call screening technology designed to detect and filter nuisance calls before they reach human operators.

The proposed system, expected to be introduced before the end of 2026, is projected to reduce operator handling time by 35 per cent.

Other reforms outlined in the ministry’s strategic response plan include expanding agent capacity by 40 per cent, deploying automated callback systems for abandoned calls and establishing a real-time analytics dashboard for emergency response monitoring.

Yet one of the most striking figures in the report was not the 16.39 million nuisance calls, but the fact that only 39 calls were officially categorised as hoax calls requiring legal follow-up during the same period.

 

 


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Google, Blackstone Invest in AI Cloud Venture to Meet Data Centre Demand

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Google and ‌Blackstone (BX.N), said they will form an artificial intelligence cloud business venture aimed at capitalising on an insatiable demand for AI computing services.

Blackstone, the world’s largest alternative asset manager, will ​invest an initial $5 billion in equity to help bring 500 megawatts of ​data centre capacity online in 2027, with further expansion planned over ⁠time.

The U.S.-based venture will provide data centre capacity along with Google’s custom AI ​chips, known as Tensor Processing Units, or TPUs, through a compute-as-a-service model.

The total ​investment value could reach $25 billion, including leverage, according to Bloomberg News.

Both companies did not immediately respond to a request for comments on the Bloomberg report. Blackstone has appointed Benjamin Sloss, a long-time ​Google executive, as CEO of the new venture.

Thomas Kurian, chief executive of Google ​Cloud, said the venture would help address growing demand for TPUs by offering organisations additional ways ‌to ⁠access computing capacity.

Analysts and investors have said Google is taking a sizeable share of new AI-driven computing demand, supported by its business tools and custom chips that have attracted customers such as Anthropic.

“This isn’t the biggest headline number we’ve seen. ​But it’s a high-quality ​bet on sustainable ⁠growth in AI infrastructure,” said Brittain Ladd, AI and supply chain consultant at Florida-based Chang Robotics.

Blackstone ​has stepped up investments in AI-related infrastructure, including data centres, power ​generation and ⁠transmission assets.

Those investments are valuable as the AI boom pushes operators to secure long-term energy supply deals.

The new partnership reflects rising demand for AI infrastructure and the need ⁠for ​large-scale capital deployment, Blackstone President Jon Gray said.


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