Small- and medium-sized enterprises (SMEs) in Nigeria have largely moved beyond the first stage of digital payment adoption, but a productivity gap remains. According to Visa’s new survey for its Pay and Get Paid 2026 report, most of the SMEs surveyed in Nigeria use digital payments, showing how firmly digital commerce has taken root in the country’s small business economy.
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However, many SMEs still manage the related financial and operational tasks separately, with only 29% currently using an integrated solution that connects payments with broader business management.
The report shows that financial admin and disconnected tools create friction for SMEs, with surveyed businesses citing challenges in tracking outstanding invoices (14%), keeping payroll records organized (19%), and preparing financial reports (16%). These pain points reflect a disconnect between payments and the operational tasks that follow, with some businesses juggling multiple systems to keep their business running.
The appetite for a more connected approach is clear. According to the report, 94% of SMEs find an all-in-one payment and business solution appealing, reflecting strong interest in tools that can bring payments and key business operations into one experience. However, adoption has yet to catch up: only 29% of SMEs currently use an integrated payment and business platform.
The report points to several perception barriers that may be slowing adoption. Businesses cited that they already have manual processes that work (8%), that an integrated platform may disrupt their current way of working (8%), or that they do not trust relying on a single provider (7%). These findings suggest that broader adoption will depend on helping SMEs better understand how integrated tools can be relevant, accessible, and scalable for businesses at different stages of growth.
At the same time, the experience of SMEs already using integrated solutions suggests a strong value case. The report found that Nigerian businesses using an integrated tool or platform report 93% satisfaction, with 88% reporting efficiency gains, including reductions in the time and effort required to manage their business.
Beyond efficiency, integrated platforms may also create new opportunities for financial institutions to deepen SME relationships by using richer payments and business-management data to better understand cash flow patterns, support risk assessment, and potentially enable more relevant lending solutions over time.
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Andrew Uaboi, Vice President/Cluster Head Visa West Africa said, “Digital payments are now a core part of how many SMEs in Nigeria operate. 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. At Visa, we remain committed to enabling our partners with secure, innovative solutions that help SMEs operate more efficiently and grow with confidence.”
Abiodun Olubitan, Group Head SME Banking at Access Bank added “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.
At Access Bank, we recognize that when payments are connected to everyday business operations, SMEs can gain better visibility into their cash flow, strengthen financial management and build a stronger foundation for accessing financing. We remain committed to supporting businesses with relevant financial solutions and digital capabilities that help them navigate challenges, scale sustainably and contribute more meaningfully to Nigeria’s economic development.”
About the Study
The Visa Pay and Get Paid 2026 study explores how SMES manage payments, day-to-day operations, and demand for integrated payment and business solutions. The research was conducted through face-to-face interviews with business owners and financial decision-makers between March and April 2026 across 11 markets, including Nigeria, where 251 SMEs were surveyed.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.