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Nigeria Mobile Payment Business and Investment Opportunities – Market Size and Forecast (2014-2020) by Mobile Commerce, P2P transfer, Bill Payment, Retail Spend, Consumer Attitude & Behaviour, Market Risk, Competitive Landscape and Market Innovation

Nigeria Mobile Payment Business and Investment Opportunities – Market Size and Forecast (2014-2020) by Mobile Commerce, P2P transfer, Bill Payment, Retail Spend, Consumer Attitude & Behaviour, Market Risk, Competitive Landscape and Market Innovation

Report Description

Nigeria’s mobile money market was valued at USD 3 billion in 2015, and is expected to post a CAGR of 64% during the forecast period of 2016 to 2020. Though the market has high growth potential due to factors such as high mobile penetration and a significant unbanked population, Nigeria’s mobile payment market faces many challenges which is inhibiting growth of the market. However, with the Central Bank of Kenya encouraging mobile payments to foster financial inclusion and introducing regulations that support growth of the market; new players are entering the market with innovative products and technologies that are expected to help drive mobile payments in the country.

This report from PayNXT360 provides a strategic analysis of mobile payment market dynamics, offering a wealth of insights to help companies understand business and investment opportunities along with risks and innovation.

Market Dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in mobile payment industry. Details market opportunities across 30 market segments in mobile payment for the period 2014-2020 and identifies opportunities, potential risks, and market innovation.

Mobile Commerce: Provides insights, market estimates and forecasts to assess opportunities in mobile commerce market segments. Details three essential KPIs – mobile payment transaction value, volume and average transaction value across five key segments: mobile shopping; travel; entertainment and event pay; digital products; and services, restaurants & bars, and others.

Mobile Person-to-Person (P2P) Transfers: Provides insights, market estimates and forecasts to assess opportunities in P2P segment, broken down by domestic and international remittances. Details three essential KPIs – mobile payment transaction value, volume and average transaction value.

Mobile Recharge and Bill Payment: Provides market estimates and forecasts to assess opportunities in mobile recharge and bill payment segment, covering transaction value, volume and average transaction value.

Mobile Proximity: Provides transaction value market size and forecast by in-person and remote payment.

Mobile Technology: Provides strategic insights and market share by key mobile payment technologies – SMS / USSD, NFC, Code Based, and Web Based.

Competitive Landscape and Market Share Analysis: Provides detailed overview of competitive landscape along with key strategies adopted to gain market share. Also includes market share by key players in value terms.

Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key mobile payment KPIs, including spend by age, gender, and income level in both value and volume terms.

Retail Spend: Breaks down retail spend across 10 categories to provide detailed insights on consumer behaviour and changing dynamics of spend through mobile wallet.

Innovation and Strategies: Explores mobile wallet strategies, including innovations across categories, competitive positioning, and new product launches.

Report Scope

Market Data and Insights: It details market opportunities across 30 market segments in mobile payment industry for the period 2014-2020 and identifies potential opportunities, risks, and innovations. It also covers market size and forecast on mobile payment user base and other drivers. Market estimates and forecasts assess overall mobile payment industry on three essential KPIs – mobile payment transaction value, volume and average transaction value.

Mobile Commerce Segments: Mobile shopping; travel; entertainment and event pay; digital products; and services, restaurants & bars, and others

Mobile Person-to-Person (P2P) Transfer Segments: Domestic and international remittances

Mobile Recharge and Bill Payment

Mobile Proximity: In-person and remote payment

Mobile Technology: Key mobile payment technologies – SMS / USSD, NFC, Code Based, and Web Based

Consumer Spend Segments: Age, Income, Gender

Retail spend categories: Food and Grocery, Health & Beauty, Apparel and Footwear, Books / Music / Video, Consumer Electronics, Pharmacy and Wellness, Restaurants & Bars, Toys, Kids & Babies, Media and Entertainment, Services

Reason to Buy

In-depth Understanding of Mobile Payment Market Dynamics: Understand market opportunities, key trends and drivers along with five year forecast (2014-2020).

Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your mobile wallet strategy; assess market specific key trends, drivers and risks in the mobile payment industry.

Get Insights into Consumer Attitude and Behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through mobile wallet.

Explore Innovation and Competitive Strategy: Understand the competitive landscape, major players, and market innovation.


1 About this Report
1.1 Summary
1.2 Scope
1.3 Methodology
1.4 Definitions
1.5 Disclaimer
2 Nigeria Mobile Payment Industry Attractiveness
2.1 Mobile Payment Industry Market Size and Future Growth Dynamics
2.1.1 Nigeria Mobile Payment – Transaction Value Trend Analysis, 2014-2020
2.1.2 Nigeria Mobile Payment – Average Transaction Value Trend Analysis, 2014-2020
2.1.3 Nigeria Mobile Payment – Transaction Volume Trend Analysis, 2014-2020
2.2 Mobile Payment Market Share by Application – Emerging Avenues and Future Growth Prospects, 2014 – 2020
2.3 Analysis of Mobile Payment User Base
2.3.1 Nigeria Number of Mobile Phone Users, 2014 – 2020
2.3.2 Nigeria Number of Smartphone Phone Users, 2014 – 2020
2.3.3 Nigeria Number of Mobile Payment Users, 2014 – 2020
3 Nigeria Competitive Landscape and Market Share Analysis
3.1 Mobile Payment Competitive Landscape and Emerging Business Models
3.2 Mobile Payment Market Share Analysis by Key Players
3.3 Mobile Payment Market Share Analysis by Business Model
4 Nigeria Mobile Commerce Market Size and Future Growth Dynamics, 2014 – 2020
4.1 Mobile Commerce Market Size and Forecast, 2014 – 2020
4.1.1 Mobile Commerce Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
4.1.2 Mobile Commerce Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
4.1.3 Mobile Commerce Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
4.2 Mobile Shopping Market Size and Forecast by Key Segments, 2014 – 2020
4.2.1 Mobile Shopping Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
4.2.2 Mobile Shopping Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
4.2.3 Mobile Shopping Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
4.3 Travel Market Size and Forecast by Key Segments, 2014 – 2020
4.3.1 Travel Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
4.3.2 Travel Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
4.3.3 Travel Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
4.4 Entertainment and Event Pay Market Size and Forecast by Key Segments, 2014 – 2020
4.4.1 Entertainment and Event Pay Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
4.4.2 Entertainment and Event Pay Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
4.4.3 Entertainment and Event Pay Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
4.5 Digital Products Market Size and Forecast by Key Segments, 2014 – 2020
4.5.1 Digital Products Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
4.5.2 Digital Products Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
4.5.3 Digital Products Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
4.6 Services, Restaurants & Bars, and Others Market Size and Forecast by Key Segments, 2014 – 2020
4.6.1 Services, Restaurants & Bars, and Others Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
4.6.2 Services, Restaurants & Bars, and Others Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
4.6.3 Services, Restaurants & Bars, and Others Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
5 Mobile Peer to Peer Transfer Market Size and Future Growth Dynamics, 2014 – 2020
5.1 Peer to Peer Transfer Market Size and Forecast, 2014 – 2020
5.1.1 P2P Transfer Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
5.1.2 P2P Transfer Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
5.1.3 P2P Transfer Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
5.2 Domestic P2P Transfer Market Size and Forecast by Key Segments, 2014 – 2020
5.2.1 Domestic P2P Transfer Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
5.2.2 Domestic P2P Transfer Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
5.2.3 Domestic P2P Transfer Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
5.3 International Remittance Market Size and Forecast by Key Segments, 2014 – 2020
5.3.1 International Remittance Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
5.3.2 International Remittance Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
5.3.3 International Remittance Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
6 Mobile Recharge and Bill Payment Market Size and Future Growth Dynamics, 2014 – 2020
6.1.1 Mobile Recharge and Bill Payment Market Size and Forecast Forecast by Transaction Value, 2014 – 2020
6.1.2 Mobile Recharge and Bill Payment Market Size and Forecast Forecast by Average Transaction Value, 2014 – 2020
6.1.3 Mobile Recharge and Bill Payment Market Size and Forecast Forecast by Transaction Volume, 2014 – 2020
7 Nigeria Analysis of Mobile Payment Market by Payment Proximity
7.1 Remote Mobile Payment Market Size and Forecast, 2014 – 2020
7.2 In-Person Mobile Payment Market Size and Forecast, 2014 – 2020
8 Nigeria Analysis of Mobile Payment Market Share by Technology Channel
9 Nigeria Mobile Payment Analysis of Consumer Attitude and Behaviour
9.1 Mobile Payment Spend Analysis by Age Group
9.1.1 Trend Analysis by Age Group in Value Terms
9.1.2 Trend Analysis by Age Group in Volume Terms
9.2 Mobile Payment Transaction Value and Volume Analysis by Income Group
9.2.1 Trend Analysis by Income Group in Value Terms
9.2.2 Trend Analysis by Income Group in Volume Terms
9.3 Mobile Payment Transaction Value Analysis by Gender
9.4 Spend Analysis by Retail Categories, Value
10 Further Reading
10.1 About PayNXT360
10.2 Related Research
10.3 PayNXT360 Knowledge Center
List of Figure
Figure 1: PayNXT360’s Methodology Framework
Figure 2: Nigeria Mobile Payment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 3: Nigeria Mobile Payment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 4: Nigeria Mobile Payment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 5: Nigeria Mobile Payment – Market Share by Application, 2015
Figure 6: Nigeria Mobile Payment – Mobile Phone Users Trend Analysis (Million), 2014-2020
Figure 7: Nigeria Mobile Payment – Smartphone Users Trend Analysis (Million), 2014-2020
Figure 8: Nigeria Mobile Payment – Mobile Payment Users Trend Analysis (Million), 2014-2020
Figure 9: Nigeria Mobile Payment – Market Share Analysis by Key Players (by Value), 2015
Figure 10: Nigeria Mobile Payment – Market Share Analysis by Business Model (by Value), 2015
Figure 11: Nigeria Mobile Payment – Mobile Commerce Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 12: Nigeria Mobile Payment – Mobile Commerce Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 13: Nigeria Mobile Payment – Mobile Commerce Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 14: Nigeria Mobile Payment – Mobile Shopping Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 15: Nigeria Mobile Payment – Mobile Shopping Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 16: Nigeria Mobile Payment – Mobile Shopping Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 17: Nigeria Mobile Payment – Travel Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 18: Nigeria Mobile Payment – Travel Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 19: Nigeria Mobile Payment – Travel Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 20: Nigeria Mobile Payment – Entertainment and Event Pay Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 21: Nigeria Mobile Payment – Entertainment and Event Pay Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 22: Nigeria Mobile Payment – Entertainment and Event Pay Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 23: Nigeria Mobile Payment – Digital Products Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 24: Nigeria Mobile Payment – Digital Products Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 25: Nigeria Mobile Payment – Digital Products Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 26: Nigeria Mobile Payment – Services, Restaurants & Bars, and Others Segment –Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 27: Nigeria Mobile Payment – Services, Restaurants & Bars, and Others Segment –Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 28: Nigeria Mobile Payment – Services, Restaurants & Bars, and Others Segment –Transaction Volume Trend Analysis (Million), 2014-2020
Figure 29: Nigeria Mobile Payment – P2P Transfer Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 30: Nigeria Mobile Payment – P2P Transfer Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 31: Nigeria Mobile Payment – P2P Transfer Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 32: Nigeria Mobile Payment – P2P Domestic Transfer Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 33: Nigeria Mobile Payment – P2P Domestic Transfer Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 34: Nigeria Mobile Payment – P2P Domestic Transfer Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 35: Nigeria Mobile Payment – International Remittance Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 36: Nigeria Mobile Payment – International Remittance Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 37: Nigeria Mobile Payment – International Remittance Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 38: Nigeria Mobile Payment – Mobile Recharge and Bill Payment Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 39: Nigeria Mobile Payment – Mobile Recharge and Bill Payment Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Figure 40: Nigeria Mobile Payment – Mobile Recharge and Bill Payment Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Figure 41: Nigeria Mobile Payment – Remote Payment Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 42: Nigeria Mobile Payment – In-Person Payment Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Figure 43: Nigeria Mobile Payment – Market Share by Technology Channel (by Value), 2016
Figure 44: Nigeria Mobile Payment – Trend Analysis by Age Group in Transaction Value Terms
Figure 45: Nigeria Mobile Payment – Trend Analysis by Age Group in Volume (No. of Cards) Terms
Figure 46: Nigeria Mobile Payment – Trend Analysis by Income Group in Value Terms
Figure 47: Nigeria Mobile Payment – Trend Analysis by Income Group in Volume Terms
Figure 48: Nigeria Mobile Payment – Trend Analysis by Gender in Value Terms
Figure 49: Nigeria Mobile Payment – Spend Analysis by Retail Categories in Value Terms
List of Tables
Table 1: Nigeria Mobile Payment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 2: Nigeria Mobile Payment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 3: Nigeria Mobile Payment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 4: Nigeria Mobile Payment – Mobile Phone Users Trend Analysis (Million), 2014-2020
Table 5: Nigeria Mobile Payment – Smartphone Users Trend Analysis (Million), 2014-2020
Table 6: Nigeria Mobile Payment – Mobile Payment Users Trend Analysis (Million), 2014-2020
Table 7: Nigeria Mobile Payment – Mobile Commerce Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 8: Nigeria Mobile Payment – Mobile Commerce Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 9: Nigeria Mobile Payment – Mobile Commerce Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 10: Nigeria Mobile Payment – Mobile Shopping Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 11: Nigeria Mobile Payment – Mobile Shopping Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 12: Nigeria Mobile Payment – Mobile Shopping Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 13: Nigeria Mobile Payment – Travel Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 14: Nigeria Mobile Payment – Travel Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 15: Nigeria Mobile Payment – Travel Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 16: Nigeria Mobile Payment – Entertainment and Event Pay Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 17: Nigeria Mobile Payment – Entertainment and Event Pay Average Transaction Value Trend Analysis (US$), 2014-2020
Table 18: Nigeria Mobile Payment – Entertainment and Event Pay Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 19: Nigeria Mobile Payment – Digital Products Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 20: Nigeria Mobile Payment – Digital Products Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 21: Nigeria Mobile Payment – Digital Products Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 22: Nigeria Mobile Payment – Services, Restaurants & Bars, and Others Segment –Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 23: Nigeria Mobile Payment – Services, Restaurants & Bars, and Others Segment –Average Transaction Value Trend Analysis (US$), 2014-2020
Table 24: Nigeria Mobile Payment – Services, Restaurants & Bars, and Others Segment –Transaction Volume Trend Analysis (Million), 2014-2020
Table 25: Nigeria Mobile Payment – P2P Transfer Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 26: Nigeria Mobile Payment – P2P Transfer Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 27: Nigeria Mobile Payment – P2P Transfer Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 28: Nigeria Mobile Payment – P2P Domestic Transfer Segment –Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 29: Nigeria Mobile Payment – P2P Domestic Transfer Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 30: Nigeria Mobile Payment – P2P Domestic Transfer Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 31: Nigeria Mobile Payment – International Remittance Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 32: Nigeria Mobile Payment – International Remittance Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 33: Nigeria Mobile Payment – International Remittance Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 34: Nigeria Mobile Payment – Mobile Recharge and Bill Payment Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 35: Nigeria Mobile Payment – Mobile Recharge and Bill Payment Segment – Average Transaction Value Trend Analysis (US$), 2014-2020
Table 36: Nigeria Mobile Payment – Mobile Recharge and Bill Payment Segment – Transaction Volume Trend Analysis (Million), 2014-2020
Table 37: Nigeria Mobile Payment – Remote Payment Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020
Table 38: Nigeria Mobile Payment – In-Person Payment Segment – Transaction Value Trend Analysis (US$ Million), 2014-2020

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