A report highlights that for Nigerian small business owners, the critical moment between a customer's decision to buy and the actual arrival of payment is where the customer journey often breaks down. Mastercard's 2026 SME Confidence Index found that Nigerian SMEs unanimously consider digital and online payments vital to their growth. The index also revealed that 67% of SMEs accept mobile payments, 45% accept cards, and 42% accept online payments, while 57% sell through both physical and online channels. NIBSS Instant Payment processed nearly N11 billion transactions in 2024, up from approximately N5 billion in 2022, demonstrating the deep embedding of digital money movement in everyday life.
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