In a strategic move to capture the massive “inbound” value of the Nigerian diaspora, fintech leader Nomba has expanded its payment stack to support Apple Pay across both physical and online storefronts. This integration is particularly timely, arriving as the company targets the “Detty December” season—a peak period when international visitors bring foreign-issued cards and a preference for contactless biometrics to Nigeria.
While Apple Pay has seen limited adoption in Nigeria due to regulatory and infrastructure hurdles, Nomba’s merchant-focused approach bypasses these by enabling local businesses to accept payments from global users’ iPhones and Apple Watches.
Key Features of the Integration
The rollout is designed to eliminate the high failure rates often associated with foreign plastic cards on local terminals:
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Contactless Convenience: Tourists can pay at any of Nomba’s 300,000 POS terminals by simply tapping their device and authenticating via Face ID or Touch ID.
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Invisible Online Checkout: Web merchants can now offer a seamless “one-click” experience for international customers, reducing cart abandonment.
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Compliance First: The service is enabled through strategic partnerships with licensed foreign entities, meeting stringent global security and certification standards.
Solving the “Settlement Friction”
Accepting international payments in Nigeria traditionally involves a “double-edged sword” of delays and currency issues. Nomba is tackling this through a capital-intensive commitment to its users:
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Guaranteed Payouts: Nomba ensures merchants are paid on time using its own funds, even if global upstream processors delay the actual settlement.
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Reliability over FX: While most merchants are still settled in Naira at official rates, the primary value is transaction success—ensuring that a $100 sale actually clears rather than failing at the point of sale.
The Diaspora Economic Force
The scale of this opportunity is underscored by data from the Nigerians in Diaspora Commission (NiDCOM). In December 2024 alone, Nigerians living abroad spent an estimated ₦60 billion during their homecoming visits. By streamlining the payment process, Nomba aims to help local SMEs capture a larger share of this significant annual capital influx.
