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
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%)
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%)
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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