The once-thriving business of selling recharge cards is witnessing a significant downturn as an increasing number of Nigerians turn to digital payment platforms and bank-based airtime purchases.
Research by LEADERSHIP reveals a clear trend: more Nigerians prefer cashless transactions, utilizing mobile banking apps to recharge their phones directly.
A vendor who has been in the recharge card trade since 2018 shared that what used to be a lucrative enterprise has now become barely sustainable.
“Previously, selling recharge cards was straightforward. With a stock worth N100,000, I could quickly clear my inventory. Nowadays, the demand has drastically dropped,” the vendor disclosed to LEADERSHIP.
The vendor attributed this decline to the widespread adoption of mobile banking services. “Most customers now purchase airtime straight from their bank apps, often benefiting from cashback offers. Only those without smartphones or unfamiliar with digital banking still rely on physical cards,” they explained.
This shift has compelled many small-scale sellers to adapt their business strategies. Veronica, another vendor interviewed by LEADERSHIP, revealed that she diversified her services beyond recharge cards. “Recharge cards used to be my top seller, but now I also provide POS services, bill payments, and GOTV subscriptions,” she said.
To maintain her customer base, Veronica has started assisting clients by topping up their lines directly through their bank accounts. “I simply take their phone number and handle the purchase for them. It’s the only way to retain some customers,” she added.
While digital payment methods bring speed and ease, they simultaneously threaten the livelihoods of countless petty traders who depend heavily on selling physical recharge cards.
