Nigerian Fintech solution improving access to bill payment in rural communities

By Godwin Anyebe

Fintech In Nigeria, the creative application of technology to the provision of financial services is having a positive effect on both business operations and individual experiences.

Fintech solutions are promoting financial inclusion by providing more affordable, easy, and convenient ways to make bill payments and engage in financial services and decisions. to 38 million Nigerian adults, translating to about 36per cent of the total adult population in the country were financially excluded.

Regardless of the number of commercial banks and microfinance banks available, a good percentage of the Nigerian adult population remains under-banked – a bulk of this unbanked population comprises rural dwellers, farmers, and petty traders.

Awolowo David, a trader in Ikorodu, Lagos, fits perfectly into this description. But since he started using MoMo Bill Payment, his bill payments have been simplified. “I like convenience. Because for me, it’s about doing something at my own pace and when it’s comfortable.

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No one wants to run around just because they want to pay for utilities like electricity bills. With MoMo, I can accomplish this right now on my phone. MoMo Bill Payment is one financial solution that makes things convenient.

“Since my neighbour first introduced me to MoMo Bill Payment, it has become my go-to resource for all things related to bills. I must say I was a little hesitant due to the nature of technology in general, but now that I’ve used MoMo, I have no regrets.

I primarily utilise MoMo bill payment to renew my GOTV, pay my electricity bills, and other bill payment services that are available on the platform,” he added.