Nigeria's Paystack Should Yelp
I do not know the number of Nigerians visiting U.S. as tourists yearly. This deal between Yelp and Ant Financial is something that may interest Paystack, Nigeria-based payment startup. Yelp is a restaurant review startup.
Ant Financial, the Alibaba affiliated valued at $60 billion, is continuing to follow Chinese tourists and their wallets overseas after it inked a deal with Yelp in the U.S.. The partnership allows Alipay users — and there are over 500 million registered in China — to make payment through the service when they use Yelp for restaurant bookings. The launch initially covers restaurants in New York, Los Angeles, Las Vegas and San Francisco, but there are plans to expand more widely across the country.
With this deal, Nigerians can pay for restaurant bills in Nigerian Naira while they are on vacations in U.S. Yelp will allow such if the volume makes sense and that means if Paystack has enough customers to justify a deal. All the fees associated with foreign transactions will disappear with this.
"The numbers may not be so attractive for Yelp because Chinese tourists definitely will spend more than Nigerian tourists. " Good points that the numbers may not make sense. China is very huge and that helps it a lot.
Yes Francis, data is key. One hopes those forms filled at departure terminals in Lagos and Abuja are compiled
