By Bashir Olanrewaju
A growing shift among Nigerians toward online shopping was given a big boost by the coronavirus pandemic and the associated movement restrictions, according to Mastercard.
Top among the activities people engage in online is the recharge of phone credit, which covers 94 percent of the respondents in a Mastercard study, followed by clothing for 64 percent and beauty products for 56 percent, the U.S. payments-processing company said in a statement.
People were also using online banking more as well as using the internet to source medicines and healthcare solutions. The social media, according to Mastercard, has become a major platform for sellers and buyers to find each other.
The study found that a key concern of most Nigerian users was securing a safe checkout, given rampant cases of online fraud.
“There’s no doubt that the way we live and shop has drastically changed as a result of the pandemic,” said Ebehijie Momoh, Senior Vice President, Mastercard West Africa. We are leveraging our network, insights, technology and partnerships with fintechs, banks and other key players across Nigeria to support businesses as they make the most of this new reality.”