As a Merchants in the country I reside, can I use local FIAT currency on the platform? For example, fiat currency from Chile?
Hi Thor.
Yes you will be able to use Fiat on our ecommerce platform. But our major focus for now is Nigeria, before we go worldwide. We will however offer discounts for payments that complete checkouts with cryptocurrencies. This feature is still in development.
Do you have list of possible merchant partners for your ecommerce platform?
The platform will semi work if you have long list of merchants where online consumers have the luxury to get whatever they need.
There are a lot of projects working in ecommerce side but I haven't encountered a successful one that is operating in full blast with the integrated crypto payments.
Most of them will give you a list of items on their shop but gaining customers is also one struggle.
You need to gain those online consumers to sustain your presence in the market.
Hi TimeTeller
Thank you for this observation. My apologies for the late reply, had to take a nap, Its is 5:30 am in Nigeria right now.
Since 2017-2018, NairaX pre-planned the procedure of its future operation. During this same time frame, we have conducted various forms of market research & have been able to partner with strongholds of the eCommerce industry especially within Nigeria. This is why NairaX will firstly gain its ground in Nigeria, before spreading our tentacles to other key marketplaces of Africa and subsequently the whole globe. Currently, via various forms of physical surveys, NairaX has gradually built its future user-base. We can attest to this via corroborated interests visibly shown towards our viable product by citizens of Nigeria, member countries of Africa & global participants as a whole.
You probably may not know this right now, but Nigeria still presents a virgin foundation for exploring the advantages of CryptoCommerce over conventional eCommerce. In Nigeria, eCommerce services are being offered by a limited number of companies like Konga, Jumia etc who still seem incapable of handling various customer interests/complaints. Furthermore on a sad note, the FIAT Nigerian Naira (NGN) is facing turmoil in international forex markets due to poor decision making by our governments. This indirectly has led small businesses & SMEs to incur losses they didn't forsee.
Our objective in NairaX is to tap into this unchallenged eCommerce market, and showcase the advantages of powering our eCommerce service with blockchain technology & allowing the use of stable cryptocurrencies (NIRX) for exchange of goods and service. We stand confident that this solution we provide will also produce a positive reverberating effect on the FIAT Naira in international markets.
These achievements will organically push for the adoption of NIRX working model in many fintech based markets.
The Nigerian govt failed us. I couldn't agree more. I see millions of intelligent businesses taking advantage of your tech in the coming future.
