Navigating the Festive Rush: How to Manage Payments Seamlessly this Christmas

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Admin  |  December 16, 2023

3 minutes read

As Christmas and the New Year approaches, the demand for goods skyrockets, leading to a lot of logistics issues and price hikes. However, despite these, the atmosphere remains festive as people navigate crowded markets bargaining and securing foodstuffs, gift items, clothes, and other items for the holiday season.

Challenges faced by individuals during the festive rush

Transaction challenges, which have always been an issue, get worse for individuals during the festive season due to some technical or structural deficiencies from banks. Failure of a transaction can lead to monetary losses, inconvenience, frustration, and the possible danger of fraud and identity theft, particularly if the transaction is large or significant.

Now, imagine getting a lot of failed transactions during the festive season. This is what Nigerians deal with every single year. The worst of it all is that, despite the CBN’s effort in June 2020 to curb incessant complaints from banks’ customers by issuing a revised timeline for dispensing error refunds. It’s still not accurately implemented; some banks spend weeks or months before rectifying failed transaction complaints. Right now, the solution for failed transactions in Nigeria is to embrace a personal banking app like the Bankly app which has a 99.9% success rate. 

Challenges faced by businesses during the festive rush

The challenges businesses face are not quite different from what individuals face. Businesses also deal with failed transactions when a customer is trying to make payments - from electronic money transfer failure to PoS debit errors, card rejections, and PoS network glitches. Because of these issues, some businesses only accept cash. 

As a business owner, imagine your customers' carts are overflowing with goods from your store - drinks for all the home visits during the season, and more! However, there's a snag: your only payment option is cash. As they trek to the ATM for a quick cash withdrawal, they are met with a disappointing sight - either the nearest ATM is not dispensing cash or there's a long line of people waiting. Additionally, some individuals face challenges in purchasing what they desire with cash due to withdrawal limits. This inconvenience not only frustrates your customers' but puts you at risk of losing sales.

When you rely solely on cash payments, you are ignoring a significant portion of your customer base who prefer the convenience of cashless options. Introducing the Bankly PoS terminal cuts transaction time in half, and you can say goodbye to slow payments for good.

Collecting payments over a website or an app

The festive rush is known to bring in higher sales. However, businesses that have an app or a website and plan to attract more customers and boost sales may not be able to do so if their platform is not integrated into a payment gateway. Even for those already integrated into one, the question is: Will the customer have a good checkout experience? Are there multiple payment options and good infrastructure to avoid system downtime?


To avoid delays in handling orders this season, businesses need a reliable payment solution to accept payments. Without it, they run the risk of losing sales and making customers frustrated and unhappy.

 This is why leading brands and startups in Nigeria integrate Bankly’s bouquet of APIs into their website or app to:

  1. Increase sales and revenue.
  2. Provide a smooth and convenient payment experience for their customers by allowing them to pay for their products seamlessly with multiple payment methods.
  3. Deliver seamless payment experiences to customers while reducing transaction costs and increasing revenue.


Amidst the festive rush, managing payments seamlessly is crucial for both individuals and businesses. Transaction challenges persist, but embracing reliable banking solutions like the Bankly app ensures you keep moving forward without any transaction hassle. For business owners and startups, the utilization of Bankly PoS terminals and integration of the Bankly payment gateway will not only enhance their customer experience, boost sales, and ensure smooth transactions but ultimately contribute to increased revenue and customer satisfaction during the festive season.

Bankly Microfinance Bank is a lifestyle bank that provides everyday people with valuable financial solutions to move them forward through the different stages of life. Since operations in 2019, Bankly has been the preferred choice of over 12 million individuals and enterprises in Nigeria, facilitating their financial growth through banking solutions that make business sense. The bank is licensed by the Central Bank of Nigeria (CBN), protected by the Nigeria Deposit Insurance Company (NDIC), and registered with the National Association of Microfinance Banks (NAMB).