Does cash app work in nigeria? In this review, we will answer the question of whether Cash App works in Nigeria and provide additional information about the app’s features, fees, and security.
Cash App is a peer-to-peer (P2P) payment service that allows users to send and receive money instantly from friends and family.
It is owned by Square Inc., a digital payments company founded by Jack Dorsey, the co-founder and CEO of Twitter.
Cash App has gained significant popularity in the United States, Canada, and the United Kingdom, but many people are curious whether it works in Nigeria.
Does Cash App Work in Nigeria?
The simple answer to this question is no. As of April 2023, Cash App does not work in Nigeria.
Cash App is currently only available in the United States, Canada, and the United Kingdom. Although there is no official statement from Square Inc. about when Cash App will be available in Nigeria, it is safe to say that it is not in the company’s immediate plans.
Why isn’t a Cash App Available in Nigeria?
The main reason why Cash App is not available in Nigeria is that the company has not yet expanded its services to the African continent.
Cash App’s expansion strategy has been focused on developed countries with high smartphone penetration rates and established financial systems.
While Nigeria has a relatively high smartphone adoption rate, its financial system is still evolving, and the country faces several challenges related to regulatory compliance, fraud, and cybersecurity.
Another reason why Cash App is not available in Nigeria is that the country’s currency, the Nigerian naira, is not supported by the app.
Cash App currently only supports the US dollar, Canadian dollar, and British pound sterling.
To use Cash App, users need to link their debit card or bank account to the app, which allows them to transfer funds between the app and their bank account.
But, Nigerian debit cards and bank accounts cannot be linked to Cash App because they use the naira currency.
However, you can open and verify cash app account in Nigeria with VPN.
Check it out: How To Open And Verify Cash App Account In Nigeria
What are the Alternatives to Cash App for Nigerians?
Although Cash App is not available in Nigeria, there are several alternative P2P payment apps that Nigerians can use to send and receive money.
- Flutterwave:
Flutterwave is one of the most popular Nigerian fintech company that offer payment infrastructure for both businesses and individuals.
Flutterwave’s app, called Barter, allows users to send and receive money, pay bills, and make online purchases, etc.
Barter supports multiple currencies, including the naira, US dollar, and euro.
- Paystack:
Paystack is a Nigerian fintech company that provides payment infrastructure for businesses and individuals.
Paystack’s app allows users to send and receive money, pay bills, and make online purchases.
Paystack supports the naira currency and allows users to link their bank accounts and debit cards to the app.
Also Read: Does Afterpay accept Cash App Cards?
What are the Fees for Using P2P Payment Apps in Nigeria?
P2P payment apps in Nigeria typically charge low or no fees for sending and receiving money. However, some apps may charge fees for certain transactions or services, such
- Flutterwave:
Flutterwave’s Barter app charges no fees for sending and receiving money, but it charges a 1% fee for transferring funds to a bank account.
- Paystack:
Paystack charges no fees for sending and receiving money, but it charges a 1.5% fee for transferring funds to a bank account.
Paystack also charges fees for other services, such as online payments.
It is worth noting that these fees may vary depending on the transaction amount and the payment method used.
Some apps may also offer discounts or promotions to their users.
Also Read: How much is $100 Xbox gift card in naira?
How Secure are P2P Payment Apps in Nigeria?
P2P payment apps in Nigeria have implemented various security measures to protect their users’ transactions and personal information.
Here are some of the security features of the most popular P2P payment apps in Nigeria:
- Flutterwave:
Flutterwave’s Barter app uses industry-standard encryption and authentication protocols to secure its users’ transactions and data.
Barter also allows users to set a PIN or biometric authentication (such as fingerprint or facial recognition) to access the app.
- Paystack:
Paystack uses multiple layers of encryption and fraud detection systems to secure its users’ transactions and data.
Paystack also allows users to set a PIN or biometric authentication to access the app.
In addition to these security features, P2P payment apps in Nigeria also comply with regulatory requirements and industry standards related to data privacy and security.
For example, some apps may require users to provide their biometric data or ID verification to use certain services.
Conclusion.
In summary, Cash App is not currently available in Nigeria, and there is no official statement from Square Inc. about its expansion plans to the African continent.
However, Nigerians can still use alternative P2P payment apps such as Flutterwave’s Barter and Paystack to send and receive money.
These apps offer low or no fees for their services and have implemented various security measures to protect their users’ transactions and personal information.
As Nigeria’s financial system continues to evolve, P2P payment apps are likely to play a significant role in facilitating digital payments and financial inclusion.
