May 17, 2022/Infowarelimited
By Sandra Williams
Bismark Rewane, the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited has expressed that Fintech and mobile payments will increase during the year. According to Rewane, “There will be a surge in Fintech and mobile payments. While the increased level of activities will be supported by 5G operations, the sector will consolidate within the year.” (First Bank Nigeria Economic Outlook Webinar 2022)
In January 2020, the volume of mobile payments topped 7.4 million transactions, up from just 724,803 in January 2019. That impressive growth has been consistent with payment traction trends since July 2019. The value of transactions between July 2019 and December 2019 nearly three times larger than the previous six months.
In 2020, transaction activity has continued to rise thanks to greater adoption of payments using mobile phones and the COVID-19 pandemic.
This is gradually becoming a norm as banks and telecommunications companies delve and invest more into electronic payment services, similarly as the semblance of Airtel and MTN Nigeria have acquired AIPs conceded by the Apex Bank to operate their respective PSBs.
What does this mean for you as a broker?
It is you against them, yes thats’ right. YOU!!
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Lets’ put a few numbers together; if you gain additional 1,000 new customers who trade an average of N100,000 just ten times a year; at 1.35% broker commission rate, you would have gained additional revenues of N13.5 million.
Are you willing to take this journey to financial freedom? If yes, here are some benefits of IDIA platform;
Some Benefits of IDIA Platform
- Diversification into the retail market (Access to new customers)
- Compete effectively with Fintechs and gain market share
- Gain investor mindshare from Crypto, FX trading and other asset classes
- Gain access to APIs that can help you develop your own mobile app fast and reliably
- Keep your customers engaged by giving visibility to all asset classes (Equities, fixed income, ETFs, Derivatives, etc.)
