Digital payment platforms

Digital payment platforms
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Digital payment platforms
Digital payment platforms
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Services
Consumer Services
Business Model Description

Provide digital payment services especially for healthcare and transport service providers.

Expected Impact

Improve financial inclusion across the country as well as drive financial literacy and economic growth.

How is this information gathered?
Updated: 8 Jul, 2021 Date of Production: 1 Dec, 2020
Nigeria
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
10% - 15% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
USD 100 million - USD 1 billion
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Reduced Inequalities (SDG 10) Sustainable Cities and Communities (SDG 11)

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Sector Sources
  • 1) SDG Center for Africa and Sustainable Development Solutions Network (2019). 2019 Africa - SDG Index and Dashboards Report. 2) Nigerian Bureau of Statistics (2019). 3) Federal Republic of Nigeria (2017). Economic Recovery and Growth Plan 2017 - 2020. Abuja: Ministry of Budget and National Planning. 4) Energy Mix Report (2020). NERC orders DisCos to go cashless over billing. https://www.energymixreport.com/nerc-orders-discos-to-go-cashless-over-billing/
IOA Sources
  • 5) Nibss-plc.com.ng. (2020). Instant payments mid-year analysis 2019. https://nibss-plc.com.ng/data_image_central/2019/08/INSTANT-PAYMENTS-MID-YEAR-2019-ANALYSIS-min.pdf 6) UNDP/PwC Interviews (2020). 7) USAID (2020). Enabling market conditions for pay-as-you-go solar - Executive summary. https://www.usaid.gov/sites/default/files/documents/1860/Enabling_Market_Conditions_for_Pay-As-You-Go_Solar_Executive_Summary.pdf 8) Oxford Business Group (2015). The Report: Nigeria 2015. https://books.google.pl/books?id=CvRrDQAAQBAJ 9) Elias, G., Jikenghan, E. and Edojariogba, N. (2020). International Legal Business Solutions - Global Legal Insights. https://www.globallegalinsights.com/practice-areas/fintech-laws-and-regulations/nigeria 10) Startup Nigeria (2021). Startup Nigeria is here. https://www.startupnigeria.ng/ 11) The International Comparative Legal Guides (2021). Nigeria: Fintech Laws and Regulations 2020. https://iclg.com/practice-areas/fintech-laws-and-regulations/nigeria 12) Kazeem, Y. (2019). 'Everything you need to know about African fintech right now', QuartzAfrica, https://qz.com/africa/1751701/everything-you-need-to-know-about-african-fintech/ 13) United Nations Development Programme (2020). Human Development Report 2020. https://www.ng.undp.org/content/nigeria/en/home/library/human_development/the-2020-human-development-report.html 14) Federal Republic of Nigeria (2020). Integration of the SDGs into National Development Planning: A Second Voluntary National Review (2020). https://sustainabledevelopment.un.org/content/documents/26309VNR_2020_Nigeria_Report.pdf 15) Sachs, J., Schmidt-Traub, G., Kroll, C., Lafortune, G., Fuller, G., Woelm, F (2020). The Sustainable Development Goals and COVID-19. Sustainable Development Report 2020. Cambridge: Cambridge University Press. https://dashboards.sdgindex.org/profiles/NGA 16) Dada, B. (2020). Carbon reports ₦112.6 million PAT and 2.2 million active customers. https://www.benjamindada.com/carbon-financial-result/