OLX Partners Interswitch to Strengthen eCommerce in Nigeria


Nigeria’s composite eCommerce platform, OLX has sealed a partnership deal with Interswitch that would see the two companies strengthen eCommerce adoption in Nigeria.

The partnership deal, which was disclosed at a news conference in Lagos yesterday, will help OXL leap its success of the eCommerce industry with a view to attaining the much talked about mobile economy, and assist in the adoption of a digital inclusion.

The partnership is also aimed at making sales easier for sellers and buyers, while opting for different paid services available on OLX such as OLX Do IT for Me service, OLX Top Ads and OLX Champs which the company says encourage entrepreneurship. OLX Champs are agents who work with sellers to ensure safe, fast and satisfied sales while earning commission from the final sales price of a transaction.

Speaking of the partnership, Mayokun Fadeyibi, senior manager, business development for OLX Nigeria emphasized that, though the journey toward the partnership has been conceived a a long one ago, the partnership will largely help move buying and selling away from offline to online.

“For us What makes it different is the power of trust, the currency of trust and knowing that you can use your card safely without having to worry about what is behind it. OLX and Interswitch have come together as a brand to stand with you using your card online and you can do it with ease,” she said.

Also commenting, Mr. Paul Ohkaim, Group head, Industry and Retail for Interswitch, noted that the percentage of payments made online for eCommerce is quite low, and so there is a need to approve it. Thus, the OLX and Interswitch partnership, which he reveals will improve the safety of payment for users of the OLX classified service. “We have optimized our integration in such a way that however low your internet broadband may be, we try to ensure your transaction gets successful as soon as it possibly can,” he assured.

The Nigeria’s eCommerce space is still untapped, considering the fact that about 74percent of Nigerians browse, search and select product online, yet only 15% of the population pays online while 82% prefer to pay offline.

This shows the huge reluctance of online payment due to quite a number of reasons, but most importantly lack of adequate infrastructure and fear of insufficient online security for their data when making payment online.

With well-established innovative payment product offerings from Interswitch such as Interswitch PayDirect and WebPaydirect, OLX Intends to leverage on these payment technologies to drive new paid products for Nigerians to encourage entrepreneurship and ensure continued opportunities for Nigerians giving rise to the partnership to enable Nigerians leverage on this disruption of service payment.

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