How a Cashless Future Affects Your Money Exchange in Nigeria

The way we use, spend, and transfer money has been steadily changing over the last several decades. In the U.S., U.K., and Canada, cashless transactions are commonplace in many – if not most – areas. The same cannot be said for every country world-wide, however, slowly but surely, people in many areas are turning to electronic means over using cash, coins, or paper checks. This shift is also impacting the process for money exchange in Nigeria.

Security

Using electronic funds provides a safer, more secure experience for people. When you carry ¬†cash, you know you’ll have a convenient and ready means to pay for things. However, if you lose your wallet or purse, or if it’s stolen, you’ve lost whatever cash was inside. With cashless transactions, losing a wallet or purse can still be frustrating, however, by promptly reporting lost cards or payment devices to your financial institutions, you aren’t at risk of losing the money in your accounts. When your family and friends need a money exchange in Nigeria, you can be confident that those electronic funds are secure.

Mobile Wallets

One of the most exciting advances in technology in recent years has been the creation of a “mobile wallet”, where your smartphone essentially becomes your debit card or credit card. By simply tapping or waving your device near a device reader, you can pay for purchases without ever having to even take your wallet out of your pocket or bag. As more retailers in Nigeria embrace this technology, your loved ones will have another convenient way to use the money you send them.

Online Shopping

The internet has connected us globally like never before. Online shopping provides a convenient way to purchase goods or services without ever having to leave home. Just as it’s easy for you to send money to loved ones in Nigeria using Ping Express, your beneficiaries can also use those funds electronically to buy the things they want and need quickly and easily.

Receiving and Exchanging Funds

Before cashless transactions, sending money to family and friends in Nigeria meant that your loved ones would have to go to the bank or a money transfer processor and stand in line in order to obtain their funds. That way of doing things was inconvenient and sometimes resulted in long waits. With cashless transactions, your beneficiaries have access to the money you’ve sent almost immediately. Those dollars or pounds are exchanged into Nigerian naira electronically, so they’re ready for your recipient to begin using them right away.

Choose Ping Express for Your Money Exchange in Nigeria

There is no question that the technology behind cashless transactions has changed the way we live, and the way money is transferred to and exchanged in Nigeria.

Ping Express offers a fast, convenient, secure, and cost-effective method of transferring funds from the U.S., the U.K., or Canada to Nigeria. To learn more, watch our short “How it Works” video online. By following three easy steps, you can send money in just moments. Download our free mobile app (Android or Apple) to get started today.

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