Dear payment processor,
Thumbs up for your outstanding excellent service delivery provided for financial institutions, merchants and the end users since the inception of ‘real-time’ online transactions. Without your timely involvement, business transactions online could have been foot-dragging. Irrespective of the many obstacles still popping up, you have proved that you are capable and equally reliable. This is one of the ethics that makes businesses thrive and economy healthy.
However, it is with great disappointment and grieve that I am writing to you. I am a proud Nigerian which is no fault of mine but for a divine purpose and mission by the creator of the universe. As a Nigerian with an estimated population of One Hundred and Seventy Million and still counting whose internet usage rating according to International Telecommunication Union (ITU) is No. 11 in the world and No. 1 in Africa representing a whopping 28.39% is yet to be listed on the country list of some international online payment processor country’s list. This is no assumption. Online payment processor like: ‘PayPal’, ‘Pay Simple’, don’t have Nigeria on its country’s list. I want to believe that there are many more international online processors that are guilty as charged.
I want us to compute in monetary terms the money Nigerians spend online using the findings of the ITU. Let us all assume that the average amount in dollars spent by an average Nigerian online is $10. 28.39% access the internet regularly. Accessing this figure over Nigeria’s population of 170, 000, 000 will result to 48, 263, 000 of Nigeria’s population have regular access to the internet. Using simple mathematics, of the population (48, 263, 000) that has access to the internet multiply by $10. Please, show me the business enterprise, entrepreneur or investor that would not want to have as small as 5% equity share in this lucrative venture.
This is another food for thought. A recent survey carried out revealed that 70% of Nigerian internet users access the internet via their mobile phones. This number for sure will rise before the end of 2014 taking into account the pace at which events unfolds daily.
I am less concern about reports on ‘fraudulent’ dealings of and about Nigerians. None is innocent. If any Nation knows that her country is free from any form of corruption either in government agencies, public, private or individually owned corporation should write me back with only these words – Godwin, you are a liar in capital letters.
The internet has simplified businesses. PayPal, Pay Simple and other online payment processors why make online business dealings challenging for Nigerians and Africans?Let PayPal, Pay Simple and others tell the world their ‘sincere’ reasons for not having Nigeria on their country’s list. No Nation is too big or small to be corrected. Every Nation needs each other.
With the pace in which events are unfolding themselves especially online, any international online payment processor that don’t have Nigeria or any other African country listed on its country list is LOSSING OUT ON HUGE PROFITS as I stand to be corrected on my statement.
I look forward to your expedited favourable response.
Thank you.
Godwin '3ple-i' Ihemenwa Author of the Book - Silver Lining