KongaPay Dominates Online Payment Service market in Nigeria

E-Commerce platforms in Nigeria are having a great kumbaya moment. KongaPay has created a digital payment umbrella to accommodate fickle digital payment users who are in their millions in the Nigeria digital space.

Cash is still persistent in the Nigeria’s economy and it is the financial language of the bottom of the pyramid. Online payments is gathering momentum in the economy in 2020, 35% of payment made online were done through cards.

KongaPay thrives to change the digital narratives of the digital payment system. KongaPay is a fintech platform and one of the subsidiaries of Konga Group, a Nigerian e-commerce firm. The mobile money platform is increasing in market share thanks to repositioning of its business model by Konga, the e-commerce platform that has allowed this possibility.

This innovative endeavor has allowed Konpay 400% increase monthly in acquisition growing from 272,000 to 1.1million subscribers. The growth allows KongaPay in the circle of increase to 3million subscribers in the next one year.

According to Isa Aliyushata, Vice President KongaPay, ” We have not only enjoyed greater engagement and increased transactions from our existing subscribers but have also seen a huge leap in adoption of new subscribers.”

He also affirmed, ” KongaPay is currently growing at a rate of 400 percent month -on-month and we are envisaging our subscriber base to hit and possibly exceed the three million mark by 2020. This is all down to the hard work still on going behind the scenes to make KongaPay the payment platform of choice for millions of Nigerians, the loyalty and confidence we have enjoyed from Nigerians as well as the smart features and additional products and services we are adding to our bouquet of offerings. As we continue to take pride in our great vision to constantly solve the challenges of the payment ecosystem globally, KongaPay remains relevant in the minds of its customers with great innovation and hybrid technology solutions.”

KongaPay is leading in the league of online payment services for e-commerce transactions in Nigeria.