Visa Report: Nigerian SMEs Struggle with Disconnected Systems

Visa's Pay and Get Paid 2026 report reveals that while Nigerian small and medium-sized enterprises (SMEs) are increasingly adopting digital payments, disconnected systems are causing operational inefficiencies. Only 29% of SMEs surveyed utilize integrated solutions that link payments with broader business management.

This disconnection leads to difficulties in tracking invoices, managing payroll, and preparing financial reports. Andrew Uaboi, Vice President and Cluster Head at Visa West Africa, stated that the next opportunity lies in integrating payments with business management tools to enhance insights into cash flow and decision-making.

The report indicates that 94% of SMEs find an all-in-one solution appealing, yet perception barriers exist, such as reliance on manual processes and distrust of single providers. Abiodun Olubitan, Group Head of SME Banking at Access Bank (NGX: ACCESSCORP), emphasized that the focus should shift from merely adopting digital payments to utilizing digital solutions for efficient business operations and growth opportunities.