Economy
Mobile Payment Transaction Market to Reach $768b Before 2017

By Modupe Gbadeyanka
It has been projected that before the end of 2016, the mobile payment transaction volume will grow by a massive 42 percent to reach 26,923.7 million, up from 18,969.8 million in 2015.
In terms of value, this will represent nearly $768.78 billion, up from $549.91 billion in 2015.
Mobile payments will continue to be strong in APEJ and Africa, as unlike US and Europe, a majority of consumers don’t own a credit card, and are making a direct shift from cash to mobile payments.
Growth will be particularly robust in China, where the entry of Apple and Samsung earlier this year has led to a renewed interest, sprucing up the already fiercely-competitive landscape.
While strong adoption in China will continue to boost the mobile payment market in Asia Pacific, making it the leading market globally in terms of volume, Africa will maintain its numero uno position in terms of value.
The tremendous success of M-Pesa in Kenya has influenced consumers and businesses in other African countries to adopt mobile money, leading to a rapid increase in the Africa mobile payment market. Africa currently accounts for nearly 32 percent revenue share of the global mobile money market, with a subscriber base of over 100 million.
Outside of Asia Pacific and Africa, the U.S. and Western Europe remain the other lucrative regions for mobile payment transaction market globally.
While mobile payment transactions will continue to grow, existing challenges, such as slow adoption of smartphone compatible POS systems by retailers will continue to impede growth.
“While a 42 percent volume growth looks staggering, there’s more to what meets the eye. Apart from a few countries, consumers haven’t fully embraced mobile payments, in spite of its relatively better security features.
“However, given the enormous advantages mobile money offers over traditional payment options, it won’t be long before mobile payments become as ubiquitous as credit cards,” FMI said in its report.
By technology, SMS and WAP/WEB will continue to account for most of the transactions conducted worldwide.
Mobile payments conducted through SMS will witness a year-on-year growth rate of over 28 percent and total $385 billion in revenues. Payments made through NFC, widely touted as the technology of the future, will witness the highest y-o-y growth rate, increasing at over 59 percent in 2016.
Money transfer and merchandise purchases account for over 90 percent revenue share of the global mobile payment transaction market on the basis of end-use ‘purpose’. Mobile payments made for merchandise purchases will be worth $323.73 billion in 2016, up from $228.32 billion in 2015.
Money transfer, the largest end-use purpose in the mobile payment transaction market, will grow by over 38 percent to surpass $381 billion in revenues.
Leading players operating in the global mobile payment transaction market are PayPal, Visa, MasterCard, Google Wallet, Apple Pay, Samsung Pay, and Alipay.
Long-term Forecast: FMI forecasts the global mobile payment transaction market to increase at a CAGR of 39.1 percent through 2020 and reach $2.89 trillion in revenues.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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