UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

It's simply cos of fraud..
We too bad for this country and there aren't enough measures yet to checkmate internet/financial frauds as it's still on the rise.

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

Nigerians wey no dey gree repay 10K loans, shey na credit card loans una go gree repay.

Any company that goes into that business in Nigeria without first putting in place adequate KYC and loan recovery measures will go go bankrupt in 3 months max!

Scb and Access have them

If you ask me who ago ask..? I drop mic

Are Nigerians less human?

That’s one way to put it.

Nigerians love remaining in the Stone Age so they should counter your thread with illogical reasons. I don’t know and don’t care. I think it stems from how the countries which utilize the scheme make money in the first place.

Nigerians borrow money from online loan companies and default, if you give them credit card now them go run the countey down with gbese

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

E be like say e don tey when you go Niggeria.
The country is unstable. No job security anywhere except for maybe government workers so anyone you hive loan to may not have the means to pay back
Poor infrastructure: In rhe western countries addresses are well defined and there is a suitable way to track defaulters. In Niggeria the addresses are here today and gone tomorrow. So how do you even go about tracing someone

Don't Ever

i repeat

Don't ever compare Naija with other better countries

Those advance countries you talked have every of their citizen on record and a profound data base
They also operate on Credit System, reason credit cards work for them

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

SmartPolician:
You see, there are few people who use credit cards in Nigeria because the issuers know they are credit-worthy.

Try to make friends with someone who works with those online companies that lend Nigerians money, the person will tell you how useless Nigerians are.

The rate of default is extremely high and some shameless Nigerians will even threaten or insult you for asking them to repay the money they borrowed.

Besides, those countries that use credit cards have what they call credit score and track your spendings and earnings. If you default, the government will clear it, but you are finished because you will hardly get something on credit again unless you consult experts to help you build it again.

Na Buhari wey never loot our money finish dey come clear your bad credit history?

An average Nigeria person is a scammer. I'm currently working with a company that gives out products on loan. Thank God the company is smart enough to put a software from the manufacturers, once your paid time is finished it would lock. But we still have people trying to manuevrr but we are smarter than them.


How can you buy a product worth over 150k, your initial deposit/first only is maybe 20k-30k and you go and resell to another person. Their mind is always at scamming their fellow man. I pity people who buy fairly used stuffs expecially technology here in Nigeria expecially Lagos.

Ole ni e. You be thief. Ecobank trued it few years back, the bank is still regretting it till today

Poor identity management and addressing system in the country.

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

Go and ask Ecobank that tried something similar some years back how they ended .

Nigerians cannot pay back USSD loans its now credit cards that they will pay.

Because everyone here is a thief....

I even just got defrauded this morning of 20k..

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

Nigerians don't like to pay back debt, even loan companies are struggling to recover their money back from people. If you borrow a nigerian money that is when you will be hearing is it because of so and so amount you are disturbing me, or how much is your money self. I won't advise any bank to adopt the credit system.

Cos Nigerians are thieves,

Because most Nigerians are not credit worthy

SmartPolician:
You see, there are few people who use credit cards in Nigeria because the issuers know they are credit-worthy.

Try to make friends with someone who works with those online companies that lend Nigerians money, the person will tell you how useless Nigerians are.

The rate of default is extremely high and some shameless Nigerians will even threaten or insult you for asking them to repay the money they borrowed.

Besides, those countries that use credit cards have what they call credit score and track your spendings and earnings. If you default, the government will clear it, but you are finished because you will hardly get something on credit again unless you consult experts to help you build it again.

Na Buhari wey never loot our money finish dey come clear your bad credit history?

Exactly, forget the religious outlook, a lot of Nigerians are wicked.

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

Nigerian banks actually do. I have 2, no collateral. N750k limit. Have had it for like 8 years now.
But I guess it’s no longer common these days unless you want it cashed backed with 120% cover.

Nigeria have no database

LOOOL ordinary loan apps una dey default

Stanbic has sha but i won't collect it

thesicilian:
You want credit cards, when common online loan apps that people collect money from they'll come here to be looking for lawyers that will help them fight the company instead of just paying up

Those online loan apps aren't worth to be used as an example.

Their interest is criminal.

How will there be credit cards when even to pay ordinary loan they hard many people?
If you know the number of calls, messages and whatsapp messages people are getting from loan companies about their contacts who are not paying their loans, then you will agree with me that it is a pipe dream.

somehow:


Those online loan apps aren't worth to be used as an example.

Their interest is criminal.

No one was forced na

GoodLord95:
Me I know sey even in the next 2 years Nigeria cannot introduce credit cards for all it's citizens, instead of credit card they gave you guys e-naira .
Me I know sey even after 2 years from now Nigeria will not introduce credit cards for all it's citizens who owns different bank accounts, I laugh in e-naira

With different names
With different age
But same user

Educram:

Nigerians don't like to pay back debt, even loan companies are struggling to recover their money back from people. If you borrow a nigerian money that is when you will be hearing is it because of so and so amount you are disturbing me, or how much is your money self. I won't advise any bank to adopt the credit system.

Lol, too much experience on the side. You become the victim.

Because we don't have a proper identity system.

SmartPolician:
You see, there are few people who use credit cards in Nigeria because the issuers know they are credit-worthy.

Try to make friends with someone who works with those online companies that lend Nigerians money, the person will tell you how useless Nigerians are.

The rate of default is extremely high and some shameless Nigerians will even threaten or insult you for asking them to repay the money they borrowed.

Besides, those countries that use credit cards have what they call credit score and track your spendings and earnings. If you default, the government will clear it, but you are finished because you will hardly get something on credit again unless you consult experts to help you build it again.

Na Buhari wey never loot our money finish dey come clear your bad credit history?

Na for this country Person way dey give loan to people carry people money run abroad.

Integrity is rare in this country.

UncleAyo:


Not everybody is dubious anyways. Credit card system is so good and developed to eliminate the dubious users

True. Not everyone.

But the average Nigerian lacks integrity specifically Financial integrity AKA credit worthiness.
We are also a relatively poor country.

Very bad combination.
Unfortunately capital goes where it'll be preserved better. Some 'big men' still get credit though.

The facilities for the use of credit card are not available on here dude

Which one is credit card when the POS or ATM⅜ would ask if it is Savings, Current or Credit. And the people that takes loan on their accounts do withdraw by choosing Credit.

It very simple... We still have not gotten our identification problem sorted .