MasterCard boosts international cashless transactions in Nigeria

Nigerian merchants in the travel and hospitality industry expressed renewed enthusiasm for the country’s move towards a cashless society, after attending a workshop hosted by global payments and technology company, MasterCard.

Held in Abuja, the workshop was attended by more than 100 merchants from the hospitality industry, including representatives from leading restaurants and hotels. The training session focused on card acceptance best practices, with an emphasis on card security, fraud identification and management, signage at points of sale and cardholder support.

According to Omokehinde Ojomuyide, Vice President and Area Business Head, MasterCard, West Africa, the training supports the Central Bank of Nigeria’s Cashless Nigeria policy and its drive to boost international payment card acceptance.

“MasterCard’s vision for Nigeria is a world beyond cash. We are intent in fully supporting the Central Bank of Nigeria in achieving its goals of increasing electronic transactions in Nigeria. While progress is being made by Nigerian consumers, we are now working with the Central Bank, our licensed banks and merchants to increase the number of cashless transactions made by international travelers to the country,” says Ojomuyide.

Nigeria is becoming a popular destination for international travelers, and plays host to major events such as the World Economic Forum on Africa. The local tourism industry also provides 866.000 jobs, making it vitally important for merchants to subscribe to global best practice, especially as they service a growing international clientele who prefer to use electronic payments rather than cash.

Omokehinde Ojomuyide

Electronic payments offer cardholders and merchants several benefits, including being protected from the security risks and costs associated with cash. For merchants, the ability to accept electronic payments means that they will increase their sales, as consumers are not limited to the cash they have on hand.

“This improved means of doing business directly contributes to stimulating economic growth in the country, particularly through the tourism industry,” says Ojomuyide.

MasterCard is also making it easier for international tourists visiting Nigeria to book and pay for travel, and other services using their MasterCard payment card. For example, international travelers can use their MasterCard product to pay for a Nigerian travel visa through the online Immigration portal, portal.immigration.gov.ng or upon entry into the country at a Point of Sale (POS) terminal.

Inbound visitors can also access a variety of special offers and experiences in Nigeria through MasterCard’sPriceless Africa platform, including discounted offers at selected restaurants, unforgettable entertainment, travel and shopping experiences, and access to exciting sporting events.

 “Priceless Africa aims to reward MasterCard cardholders for their loyalty and to enhance their journey towards embracing cashless transactions. We understand that many international visitors are coming to Nigeria for both business and leisure purposes, so we want to create a conducive environment to experience all that this great country has to offer. It will also give Nigerian cardholders access to a plethora of experiences and offers in their preferred travel destinations around the world,” says Ojomuyide.

To view current offers in participating countries and international destinations, and to keep informed as new offers are added, cardholders need to register on  site. The site is updated with new offers monthly, giving cardholders an ever-growing array of experiences to choose from. All experiences offered through this programme are redeemable to both local and international MasterCard cardholders.