Nigerian SMEs See Value In Integrated Payments, But Few Adoption

Only 29 per cent of small and medium-sized enterprises (SMEs) in Nigeria currently use integrated payment solutions that connect transactions with broader business management tools, despite strong interest in such platforms, a new report by Visa has revealed.

The report, titled Pay and Get Paid 2026, found that 94 per cent of Nigerian SMEs consider an all-in-one payment and business management solution appealing. This highlights a significant gap between the value businesses see in integrated platforms and their actual adoption.

According to the report, integrating payments with tools for invoices, payroll and financial records can help SMEs operate more efficiently while improving their access to financing.

It noted that linking payment transactions with business records gives banks and other financial institutions a more complete view of a business’s cash flow.

This can enable lenders to assess credit risks more accurately and develop financing solutions tailored to SMEs’ needs.

When payments remain disconnected from other business records, financial institutions have limited visibility into an SME’s financial health, making it harder to assess creditworthiness. Integrated systems, however, can provide clearer and more consistent cash flow patterns that may strengthen lending decisions and expand access to credit.

Vice President and Cluster Head, Visa West Africa, Andrew Uaboi, said digital payments had become central to how many Nigerian SMEs operate, but greater opportunities remained in connecting payment systems with other business management tools.

“Digital payments are now a core part of how many SMEs in Nigeria operate,” Uaboi said.

“The next opportunity lies in helping businesses get more value from those transactions by connecting payments with the tools they use to manage their day-to-day operations. When payments and business management come together, financial institutions can gain deeper insights into cash flow patterns, support better decision-making, and unlock opportunities to offer more relevant products and services, including access to financing,” he added.

The report also highlighted an opportunity for banks to deepen relationships with SMEs by using payment and business management data to better understand customers’ financial positions.

Group Head, SME Banking at Access Bank, Abiodun Olubitan, said integrating digital payments with business management solutions could strengthen the foundation for financing and improve business operations.

“For Nigerian SMEs, the opportunity is no longer just about adopting digital payments, but about using digital solutions to run their businesses more efficiently, make informed decisions and unlock new opportunities for growth,” Olubitan said.

Meanwhile, Nigerian businesses already using integrated payment and business management platforms are reporting meaningful benefits. The report found that 93 per cent of Nigerian businesses using such tools expressed satisfaction

with the solutions, while 88 per cent reported efficiency gains, including reduced time and effort spent managing operations.

The research examined how SMEs manage payments and day-to-day business operations, as well as their demand for integrated payment and business solutions. It was conducted through face-to-face interviews with business owners and financial decision-makers between March and April 2026 across 11 markets. In Nigeria, 251 SMEs participated in the survey.