Mobile payment provider Fortumo has announced it has launched a mobile payment service in Nigeria, which will be made available to 114mn phone users across the country
Fortumo said it had designed a "special flow" of its "mobile payments for feature phones" platform in order to allow customers across Nigeria to use its mobile money services.
There is huge growth potential, which will be driven by the manufacture of cheap smartphones for the African market, despite the relatively low numbers of smartphone users in Nigeria.
Statistics for 2012 revealed that smartphone sales in Nigeria doubled as a result of low-cost phones, including the Huawei Ideos X1, Samsung Galaxy Pocket, Intel Yolo and Huawei 4Afrika.
Mobile Internet has continued to expand in Nigeria and 75 per cent of all Internet subscriptions are administered via mobile platforms, which works out at close to 35mn users.
Around 25 per cent of phones in the country are smartphones, Fortumo said.
