Nigerians can now pay for global subscriptions straight from a wallet app

Ebanx, a company that helps global businesses get paid in emerging markets, has launched recurring payments through OPay, a popular Nigerian wallet app. The news came in a Thursday (Oct. 22) press release. In plain terms, a Nigerian customer can approve a subscription once in the app, and later charges go through without another approval each month.

Why Nigeria, and why a wallet

Only 5% of Nigerian adults own a credit card, according to the release. About 84% have a mobile phone. That gap makes it hard for foreign streaming sites and online tools to collect monthly fees.

OPay has 40 million monthly active users in Nigeria, about one-third of the country's adults. The release calls this the first OPay Direct Debit offering from a global payments company. Direct debit means a customer lets a business pull money from an account on a set schedule.

OPay's chief commercial officer, Elizabeth Wang, said the deal gives Nigerians an easy, fast and convenient way to pay for global digital services, from streaming platforms to online tools.

What is not known yet

The material does not say which subscription businesses will use the option, when each one will switch it on, or what it costs merchants. It also does not say how customers can cancel.

The launch follows a similar Ebanx rollout through Capitec Pay in South Africa. Ebanx now offers recurring payments through local methods in 13 emerging markets across Asia, Africa and Latin America.