Last updated on October 8, 2020
Its no doubt a Few years back, recharge card printing business was one of the hottest business in Nigeria that created many job opportunities for both graduates and non-graduates. But now the business is fading out, dying and no more lucrative.
At the beginning of the telecoms revolution in Nigeria, most jobless Nigerians saw opportunities in selling recharge cards and running roadside call centres.
Because of high rate of unemployment in the country, many people dived into alternative business to put food on their table, pay for house rent and other bills. Among those businesses was the printing of recharge card.
Though it requires about N150,000 to start the business in a big way as a wholesaler you can also start with as little as N10,000.
All you need to do is to get yourself registered, purchase generated PINS, then print them and provide all willing consumers with them.
Various Methods For Recharge Card Printing Business
There are many methods of printing recharge cards for sale which include
Online printing option: You can do everything online these days. It is possible to print these GSM Pins from the website or apply to direct sending of PINs to customers.
POS machine printing variant: While using a POS machine, you are given an opportunity to print these recharge cards on demand. You can start the activities immediately after getting your POS machine. After that, you may start to receive customers’ orders.
Software option: This way, you will get the software from the dealer. The next action is to buy recharge card PINs and send them via e-mail.
E-PIN manager option: You can choose whatever network option you want. You can work with any dealer. It is rather cheap.
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As you can see this is a great business that can make you a self-employed Nigerian but why is it no more recommended or lucrative in Nigeria this 2019? Read on.
Why Recharge Card Printing Business Is Not Profitable In Nigeria
The introduction of internet and smartphones has really made life more easier but it has its own disadvantages. Remember, because of new technologies, many bankers has lost their job to robots.
So, now that there are easier options of buying recharge cards with E-Top up platforms, people prefers topping up directly from their phone instead of going to vendors outside to buy recharge cards.
Now, it is easier for customers to purchase products with their phones or pay for goods and services with their cards, making it a lot safer than strapping huge cash around. Also, payment of bills, settling of debts and safekeeping of money is a lot easier
To make the matter worst for offline (roadside) recharge card sellers, the introduction of E Top-Up platforms for airtime recharge has made things easier for customers. Instead of leaving the comfort of their homes or office to purchase recharge cards, they simply dial top-up codes and accounts would immediately be credited.
Once this is done, the monetary equivalent will be deducted from your bank account. This has dealt blow to the recharge card printing business and as it stands now, the business is no more a hot cake and it’s dying.
This revolution ushered in new ways of doing business and easier ways of making payment. The effects of these new ways of business and financial transactions have been both positive and negative to petty traders and the common people.
In highly developed parts of Nigeria, recharge card sellers are hanging by a thread. Rivers state has about 6.03 million active network subscribers yet a recharge card seller, Mr Elendu Richard bitterly said; “I am thinking of going into another business entirely, the money I make from selling cards cannot cater for my family.
Financial technology has made me think twice. It is clear that financial technology is taking over, if you were planning to go into this line of work, it is advisable to reconsider.”
Conclusion: Why Recharge Card Printing Business Is Not Profitable In Nigeria
Technology is doing so good as well as harm to some businesses. Are you a recharge card seller? How is the business now? How are you coping?