INSTANT PAYMENTSMID YEAR ANALYSIS

  In the age of tablets and smartphones, customers

expect instantaneous access to information and

services. Emails, tweets, shopping: everything is now real

time or forget about it. As a result, instant payment is 

                                    upon us. 

""

David Andrieux

The slides that follow will shed some light on the performance of Inter-bank Instant

payments.

It will show a side by side comparison on key demographics between our performance in

the first six months of 2018 vis-a-vis the same time period last year

 

On your marks, Get set, Lets Go

INTRODUCTION

STATISTICS

9.9M

28.5M

19.3M

9.5M

6.2M

21.4M

15.6M

Total Unique customers who carriedout an instant transfer transactionbetween Jan-Jun 2017 based onaccount numbers.

Total Unique customers whocarried out an instant transfertransaction between Jan-Jun 2018based on BVN.

Total Unique customers whocarried out an instant transfertransaction between Jan-Jun 2017based on BVN.

Total Unique customers whoreceived an instant transfer fundsbetween Jan-Jun 2018 based onaccount number.

Total Unique customers whoreceived an instant transfer fundsbetween Jan-Jun 2017 based onaccount number.

Total Unique customers who receivedan instant transfer funds betweenJan-Jun 2017 based on BVN

Total Unique customers who receivedan instant transfer funds betweenJan-Jun 2018 based on BVN.

15.6MTotal Unique customers who carriedout an instant transfer transactionbetween Jan-Jun 2018 based onaccount numbers.

INSTANT PAYMENTS: HOW FAR?

4.4M17.1M

40.8M

71.2M

154.5M

370.9M

308.4M

Instant Payment (Volume Growth)

2012 2013 2014 2015 2016 2017 2018 (June)0M

50M

100M

150M

200M

250M

300M

350M

400M

103%CAGR from 2012-June 2018

INSTANT PAYMENTS: HOW FAR?

3.9T

10.8T

19.9T

25.5T

38.2T

56.2T

39.9T

Instant Payment (Value Growth)

2012 2013 2014 2015 2016 2017 2018 (June)0T

5T

10T

15T

20T

25T

30T

35T

40T

45T

50T

55T

60T

DEMOGRAPHIC STATISTICS

PAYERS PERSPECTIVE: 2017 Vs 2018 (Jan-Jun)

Age Gender Location Channel

65.1%

34.9%

Gender: Jan-Jun 2017

Male 4.1M Female 2.2M

GENDER ANALYSIS: WHO IS TRANSACTING MORE?

64.6%

35.4%

Gender: Jan-Jun 2018

Male 6.4M Female 3.5M

9.7%

38.7%

29%

14.5%

6.5%

1.6%

Age Bracket: Jan-Jun 2017

15-24 25-34 35-44 45-54 55-64 65+0.0M

0.5M

1.0M

1.5M

2.0M

2.5M

3.0M

AGE ANALYSIS: WHO ARE THE PAYERS?

14.1%

38.4%

26.3%

13.1%

6.1%

2%

Age Bracket: Jan-Jun 2018

15-24 25-34 35-44 45-54 55-64 65+0.0M

0.5M

1.0M

1.5M

2.0M

2.5M

3.0M

3.5M

4.0M

Instant payment continues to be dominated by millennials. 53% of instant payments were carried out byindividuals aged between 15-34 in the first six months of 2018 as compared to 49% in the first six

months of 2017.  

1.7M

0.4M

0.4M

0.3M

0.3M

Lagos

FCT

Rivers

Ogun

Oyo

0.0M 0.5M 1.0M 1.5M 2.0M

LOCATION ANALYSIS: WHERE DO THEY RESIDE? (TOP 5)2018 (Jan-Jun)2017 (Jan-Jun)

2.5M

0.6M

0.6M

0.5M

0.5M

Lagos

FCT

Rivers

Ogun

Oyo

0.0M 0.5M 1.0M 1.5M 2.0M 2.5M 3.0M

The instant payment message seems to be spreading to other parts of the nation. Most payers reside in lagos but the

percentage has dropped to 25% from 27% in 2017

(27%) (25%)

(6%)

(5%)

(5%)

(7%)

(5%)

(6%)

(6%)

(5%)

DEMOGRAPHIC STATISTICS

RECEIVERS PERSPECTIVE: 2017 Vs 2018 (Jan-Jun)

Age Gender Location

61.5%

38.5%

Gender: Jan-Jun 2017

Male 9.6M Female 6M

GENDER ANALYSIS: WHO ARE THEY?

61.7%

38.3%

Gender: Jan-Jun 2018

Male 11.9M Female 7.4M

11.7%

36.4%

27.3%

14.3%

7.1%

3.2%

Age Bracket: Jan-Jun 2017

15-24 25-34 35-44 45-54 55-64 65+0.0M

0.5M

1.0M

1.5M

2.0M

2.5M

3.0M

3.5M

4.0M

4.5M

5.0M

5.5M

6.0M

AGE ANALYSIS: WHO ARE THE RECEIVERS?

14.1%

36.1%

26.2%

13.6%

6.8%

3.1%

Age Bracket: Jan-Jun 2018

15-24 25-34 35-44 45-54 55-64 65+0.0M

0.5M

1.0M

1.5M

2.0M

2.5M

3.0M

3.5M

4.0M

4.5M

5.0M

5.5M

6.0M

6.5M

7.0M

7.5M

3.7M

0.9M

0.9M

0.8M

0.8M

Lagos

Rivers

Ogun

FCT

Oyo

0M 1M 2M 3M 4M

LOCATION ANALYSIS: WHERE DO THEY RESIDE? (TOP 5)2018 (Jan-Jun)2017 (Jan-Jun)

4.4M

1.1M

1.1M

1M

1M

Lagos

Rivers

Ogun

FCT

Oyo

0M 1M 2M 3M 4M 5M

(5%)

(5%)

(6%)

(6%)

(24%) (23%)

(6%)

(5%)

(5%)

(6%)

64M

31M 30M

19.8M

6.5M1.2M 0.03M

Mobile InternetBanking

USSD BankTeller TPP ATM VendorMerch.

0M

20M

40M

60M

80M

of all instant payments, over the stated period,

occurred using a Mobile Phone(and or a Tablet).

2017 (Jan-Jun)

61% 77%

INSTANT PAYMENTS BY CHANNEL2018 (Jan-Jun)

132.4M

109M

35.4M24.5M

8.2M 3.3M 0.5M 0M

Mobile USSD InternetBanking

BankTeller TPP ATM VendorMerch.

POS0M

50M

100M

150M

of all instant payments, over the stated period,

occurred using a Mobile Phone(and or a Tablet).

(4%)

(20%)

(42%)

(1%)

(20%)

(13%)

(0%)(1%)

(42%)

(35%)

(8%)(11%)

(3%)(0%) (0%)

EXTRAS

Instant Payers Based in Lagos State (Jan-Jun 18)

Age Gender LGA Of residence

STATISTICS BY GENDER

37%63%

Total payers based on BVN2.5 M

13%

35%

30%

14%

6%

2%

15-24 25-34 35-44 45-54 55-64 65+0%

5%

10%

15%

20%

25%

30%

35%

40%

STATISTICS BY AGE BRACKET

STATISTICS BY LGA OF RESIDENCE (TOP 10)

0.38M

0.19M0.18M 0.18M 0.18M

0.16M0.15M

0.14M0.13M

0.11M

Alimosho Eti-Osa Oshodi-Isolo Ikorodu Kosofe Surulere Ojo Ikeja Ifako-Ijaye LagosMainland

0.10M

0.15M

0.20M

0.25M

0.30M

0.35M

0.40M

16% of Instant payments in lagos were carried out by individuals based in Alimosho LGA

(8%)

(16%)

(7%)(7%)(7%)

(6%)

(5%)

(5%)

(6%)(7%)

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