E-commerce & Cross-Border Retail — Pay Nigerian Suppliers Faster, Cheaper
Cross-border e-commerce businesses importing products for online retail and fulfillment. And your bank makes it worse — 3-day settlements, 2-4% hidden FX spreads, and zero visibility into what your payments actually cost.
We built payment infrastructure for e-commerce & cross-border retail businesses. 0.5% spreads. Same-day NGN settlement. Free container tracking.
Get a Quote for Your Next Nigerian PaymentE-commerce & Cross-Border Retail margins are too thin to donate 2-4% to your bank on every supplier payment.
Before we show you a single number, know this: we are regulated, audited, and transparent. Our pricing is published. Our client funds are segregated. These aren't marketing claims — they're regulatory requirements we meet daily.
These aren't marketing claims — they're regulatory requirements we meet daily.
Save £3,535 per £100k Payment
Typical savings for E-commerce & Cross-Border Retail paying Nigeria suppliers
- ❌ 2-3 day settlement
- ❌ Hidden FX margins
- ❌ High correspondent bank fees
- ❌ Manual compliance checks
- ✓ Settles in seconds — 2.3 second average
- ✓ Transparent pricing
- ✓ NIBSS Instant Payment (NIP) available
- ✓ 0.14s automated compliance
At £100k-£2M monthly volume, save £42,420/year
What Challenges Do E-commerce & Cross-Border Retail Businesses Face Paying Nigeria?
Industry Pain Points
- High transaction volume, low individual values
- Multi-marketplace multi-currency
- Rapid inventory turnover
- Returns and refund processing
Country-Specific Considerations
- Central Bank of Nigeria (CBN) foreign exchange regulations
- Form M (Import documentation) required for imports
- Treasury Single Account (TSA) compliance for government payments
- SWIFT code verification critical for international transfers
How Do E-commerce & Cross-Border Retail Businesses Typically Pay Nigerian Suppliers?
Fast Settlement: Settles in seconds — 2.3 second average
Use NIBSS Instant Payment (NIP) for instant NGN settlement. Nigeria's instant inter-bank payment system, 24/7 availability
Real-Time FX Exposure Tracking
Upload supplier invoices as PDFs. Our AI OCR extracts amounts and currencies. See exactly what waiting costs you in real-time. Lock rates for 15 seconds when you see a good rate.
0.14s Compliance Screening
Automated compliance checks for Nigeria regulations. Central Bank of Nigeria (CBN) foreign exchange regulations handled automatically.
How E-commerce & Cross-Border Retail Businesses Typically Pay Nigerian Suppliers
If you're importing in this sector, you're likely dealing with a mix of payment terms. Here's how they work — and why speed matters.
⏱ Payment Timing
T/T advance for new products. Established suppliers: Net 15-30. Marketplaces pay bi-weekly/monthly.
📄 Invoice Terms
T/T advance (new suppliers), Net 15-30 (established), Alibaba Trade Assurance.
Pay suppliers 30-60 days before marketplace payment. Q4 cash-intensive. Working capital gap is primary challenge.
📊 FX Risk Profile
HIGH: CNY (sourcing), multiple marketplace currencies (USD, EUR). High volume, thin margins (15-25%). Must manage closely.
Alibaba/1688 sourcing. Factory direct for volume. Trade Assurance for security. Multiple suppliers for supply security.
Common Documentation for E-commerce & Cross-Border Retail
- Commercial Invoice
- Product Compliance Certificate
- Customs Declaration
- Insurance Certificate
- Tracking Documentation
Popular Nigeria Supplier Types for E-commerce & Cross-Border Retail
Common Nigeria Suppliers
- Oil & gas service providers (Lagos, Port Harcourt)
- Agricultural exporters (Kano, Kaduna)
- Manufacturing (Lagos, Ogun State)
- Construction materials (Lagos, Abuja)
Payment Tips for Nigeria
- Use NIP for instant settlement - avoid SWIFT delays
- Nigeria = Africa's largest economy, growing trade hub
- Multiple exchange rates exist - ensure you get interbank rate
- Oil & gas payments require enhanced due diligence
Frequently Asked Questions: E-commerce & Cross-Border Retail Payments to Nigeria
How do E-commerce & Cross-Border Retail businesses pay suppliers in Nigeria?
E-commerce & Cross-Border Retail businesses can pay Nigeria suppliers instantly using Unicorn Currencies. We offer a 0.5% FX spread with 2.3-second average settlement using local payment rails like NIBSS Instant Payment (NIP). This is significantly faster and cheaper than traditional SWIFT transfers which take 2-3 days.
What banking details do I need for Nigeria E-commerce & Cross-Border Retail suppliers?
To pay E-commerce & Cross-Border Retail suppliers in Nigeria, you need the recipient's NUBAN (10-digit Nigerian Uniform Bank Account Number), account number, and beneficiary name. Our platform validates these details automatically to ensure successful payment delivery.
How much can E-commerce & Cross-Border Retail businesses save on Nigeria payments?
E-commerce & Cross-Border Retail businesses typically save 87% compared to traditional banks when paying Nigeria suppliers. On a £100k transaction, that's £3,535 in savings. With Unicorn Currencies, you pay just 0.5% FX spread + £5 per payment vs banks charging 4% spread + £40 fees.
Is container tracking available for E-commerce & Cross-Border Retail shipments from Nigeria?
Yes, Unicorn Currencies offers FREE container tracking for E-commerce & Cross-Border Retail shipments from Nigeria. You receive real-time visibility into your cargo, including demurrage alerts to help avoid costly port storage fees. This feature is included at no extra cost with your payment account.
What currencies do E-commerce & Cross-Border Retail businesses typically use with Nigeria?
E-commerce & Cross-Border Retail businesses typically convert GBP to NGN when paying Nigeria suppliers. Unicorn Currencies provides live exchange rates with a transparent 0.5% spread, and you can lock rates for 15 seconds when you see a favorable rate. Our AI-powered invoice OCR can automatically extract amounts and currencies from supplier invoices.
Ready to Pay Nigeria Suppliers 87% Cheaper?
Join E-commerce & Cross-Border Retail businesses saving £3,535 per £100k payment with t+0 (2.3s avg within unicorn network).
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