By Rita Okoye
As Africa’s digital economy continues to evolve, lifestyle and payment platforms are redefining how consumers interact with everyday services. From ticketing and food ordering to bill payments and airtime purchases, these platforms merge fintech and commerce to create a seamless digital experience. At the forefront of this transformation in Nigeria is Chibuike Emenike, a seasoned Product Marketing and Digital Strategy Specialist with a proven track record in driving product adoption, customer engagement, and brand growth in digital commerce.
As the Product Marketing Manager at NairaBox, Chibuike played a pivotal role in scaling the platform’s market reach, enhancing user experience, and leveraging data-driven insights to drive business growth. His expertise spans go-to-market strategies, customer segmentation, marketing automation, and performance analytics, making him a thought leader in the digital payment and lifestyle ecosystem.
In this exclusive interview, he discusses the future of digital payments and lifestyle platforms in Africa, the impact of mobile technology, the role of regulatory frameworks, and how security concerns shape consumer trust in the digital economy.
How have digital lifestyle platforms evolved in recent years, and where do you see the industry heading?
Over the past five years, we have seen digital lifestyle platforms evolve from single-purpose solutions (like ticketing or food delivery) into multi-service ecosystems that integrate payments, entertainment, and everyday transactions.
For example, NairaBox started primarily as an event ticketing platform but quickly expanded into food ordering, bill payments, and airtime purchases—a reflection of broader industry trends. Consumers now prefer all-in-one platforms where they can pay for services, shop, and even access financial tools without switching between multiple apps.
Looking ahead, the next wave of innovation will be driven by AI-powered personalization, embedded finance, and the rise of super apps. We are already seeing platforms like Alipay in China and Paytm in India set the standard, and I believe Africa is on a similar trajectory. The market will continue to consolidate, with more partnerships between fintech, telecoms, and e-commerce players, leading to richer, more integrated consumer experiences.
Africa is often described as a mobile-first economy. How has mobile technology influenced digital payments and lifestyle platforms?
Mobile technology has been the biggest enabler of digital payments and lifestyle platforms in Africa. With over 600 million mobile phone users and mobile internet penetration exceeding 45%, consumers now expect seamless, mobile-driven experiences.
For instance, mobile money transactions in sub-Saharan Africa surpassed $490 billion in 2020, with over 50 million new accounts registered in a single year. This shift is driving more people away from cash-based transactions and toward mobile wallets, USSD payments, and app-based transactions.
In lifestyle platforms, over 70% of transactions are now completed via mobile devices, whether it is buying event tickets, ordering food, or making bill payments. The success of platforms like M-Pesa in East Africa and the rapid adoption of mobile fintech solutions in West Africa shows that mobile-led financial inclusion will continue to accelerate.
What role do regulatory frameworks play in the growth of digital payments in Africa?
Regulation is one of the most important factors shaping the fintech and digital payments landscape in Africa. Countries with progressive regulatory policies, like Kenya and Ghana, have seen higher fintech adoption rates compared to markets where regulations are more restrictive.
For example, Ghana’s introduction of the Payment Systems and Services Act in 2019 has driven a 47% increase in mobile money transactions, making it one of the fastest-growing digital payment markets in Africa. Meanwhile, Nigeria’s cashless policy and licensing of payment service banks (PSBs) have opened up new opportunities for financial inclusion.
However, challenges remain. Interoperability between mobile wallets and traditional banks is still a work in progress, and the cost of digital transactions needs to be reduced to encourage mass adoption. The next step will be fostering public-private partnerships to create an ecosystem where regulators, financial institutions, and fintech startups can work together to drive innovation while ensuring security and compliance.
With digital fraud and cybersecurity threats increasing globally, how can African fintech and digital platforms ensure consumer trust?
Security and trust are non-negotiable in digital payments. In 2020 alone, Africa recorded a 33% rise in digital fraud attempts, with phishing and account takeovers being the most common. Consumers are becoming more aware of these risks, so companies must prioritize security as a core feature, not an afterthought.
A few ways to build trust include:
1. Strong Authentication Measures – Implementing multi-factor authentication (MFA) and biometric verification can reduce fraud risks by up to 80%.
2. AI-Driven Fraud Detection – Using AI and machine learning to monitor transactions in real-time can help identify suspicious activity and prevent fraud before it happens.
3. User Education & Transparency – Customers need to understand how their data is used and how to protect themselves. Platforms that actively educate users see higher trust levels and engagement.
At a macro level, collaboration between fintech companies, regulatory bodies, and cybersecurity firms will be crucial in maintaining a secure and reliable digital economy.
How do you see competition shaping the future of digital payment and lifestyle platforms in Africa?
Competition is driving faster innovation and better consumer experiences. While fintech startups initially led the charge, traditional banks, telecom operators, and global players are now entering the space, making competition even more intense.
For instance, in Nigeria, banks are launching their fintech subsidiaries, while telcos like MTN and Airtel have introduced mobile wallets and payment services. This is pushing all players to differentiate through better UX, improved security, and stronger value propositions.
At the same time, the growing presence of big tech companies like Visa, Mastercard, and Stripe investing in African fintech startups suggests that the market is maturing rapidly. The companies that succeed will be those that focus on customer-centric innovation, affordability, and strategic partnerships.
If you were to predict one major shift in Africa’s digital payment landscape in the next five years, what would it be?
The biggest shift will be the rise of embedded finance—where financial services are seamlessly integrated into non-financial platforms. We are already seeing this happen with buy-now-pay-later (BNPL) services, digital lending, and e-commerce payment integrations.
By 2025, Africa’s fintech market is expected to reach $150 billion, with embedded finance playing a major role in this growth. We will see more lifestyle platforms integrating lending, insurance, and investment products, making financial services more accessible to underserved populations.
Ultimately, the winners will be those who combine technology, trust, and convenience to create frictionless financial experiences