How Has The Pandemic Changes The Way Of Receiving And Sending Money To Home Country From Abroad?

How would you prefer to send money to Nigeria if you are asked to choose the best way? The COVID-19 disease outbreak and the economic havoc it has left in its wake have highlighted the growing importance and relevance of readily available digital remittance products worldwide. According to Abeo, an expatriate working in the United Kingdom, both senders and receivers have been made to reconsider their habits of money transfer system due to necessity.

Consumers had their preferred pick-up location, stores, and other remittance outposts, especially on the receiver side of the equation, where they’d long-established both an association with the shopkeeper and a habit around traveling to that specific spot to pick up their money transfers to Nigeria prior to the pandemic. But then the pandemic struck, he explained, shutting down not only their physical locations for cash disbursements but also nearly all physical commerce in the area.

How Digital Payment System Got A Boost During Pandemic?

During the pandemic, Online money transfer to Nigeria got to its highest record despite a decline in remittance to the country. It would be an overstatement to argue that COVID-19 has altered the corporate landscape. However, in some industries, such as retail, it’s challenging to comprehend how much change the pandemic has sparked.

The crisis has accelerated society’s transition to the digital world; technology that experts predicted would be adopted in five years is now expected to be adopted in months. By necessity, shoppers have transitioned from browsing aisles to navigating websites. We’re seeing new user groups embrace e-commerce and digital payment methods at a rate that no one could have predicted. It’s worth noting that these trending consumer preferences are gaining a foothold and will become preferences that last long after the pandemic has passed.

Why Is Digital Payment System More Secure And Easy To Use For Expatriates In Foreign Countries?

As the use of digital payments grows, retailers have never had more reason to be proactive. Offering preferred payment options opens up a whole new world of possibilities. Those shops that have adapted and localized their payment offerings to satisfy a worldwide audience enjoy exponential growth. Digital payment systems are considered to be more easy ad straightforward as you can receive money through your mobile application and send money to Nigeria online with just a few lick from your mobile application.