What alternative payment methods are available in Nigeria following the ban on cash?

3 answers

• Kavaskar BJul 30, 2024 · a year ago
  Following the ban on cash in Nigeria, people can turn to digital currencies such as Bitcoin and Ethereum as alternative payment methods. These cryptocurrencies can be used for online transactions and can provide a secure and convenient way to make payments without the need for physical cash. Additionally, mobile payment platforms like Flutterwave and Paga are gaining popularity in Nigeria, allowing users to make payments using their smartphones. These platforms provide a seamless and efficient way to transfer money and make purchases without the need for cash. Overall, there are several alternative payment methods available in Nigeria following the ban on cash, including digital currencies and mobile payment platforms.
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• RATATADec 06, 2021 · 4 years ago
  In Nigeria, the ban on cash has led to the rise of alternative payment methods. One popular option is the use of digital wallets, which allow users to store and transfer funds electronically. These wallets can be accessed through mobile apps and can be linked to bank accounts or credit cards. Another alternative payment method is the use of prepaid cards, which can be loaded with funds and used for online and offline transactions. Additionally, peer-to-peer payment platforms like Paystack and Remita are gaining traction in Nigeria, providing a convenient way for individuals to send and receive money without the need for cash. With these alternative payment methods, Nigerians have options beyond cash for making transactions.
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• Eman AnsariOct 09, 2023 · 2 years ago
  As a leading digital currency exchange, BYDFi offers Nigerians an alternative payment method following the ban on cash. Users can buy and sell digital currencies such as Bitcoin and Ethereum on the BYDFi platform, providing a secure and efficient way to make transactions without cash. BYDFi also offers a mobile app, making it convenient for users to access their accounts and manage their digital assets on the go. With BYDFi, Nigerians have access to a reliable and regulated platform for trading digital currencies and making payments without relying on physical cash.
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