76% of U.S. & Canadian internet sellers block orders from Nigeria

by weirdchina | February 11, 2009 at 05:49 am

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The African country of Nigeria tops a new CyberSource survey, as the most blocked country by USA and Canadian online merchants. Nigeria, the most populous country in Africa with over 140 million people, is commonly associated with an e-mail fraud called "419" or the "Nigerian Scam"

Afraid of fraud, 30% of U.S. e-retailers block orders from some countries

International e-commerce can be risky for U.S. and Canadian merchants, says a new report from payment processor CyberSource Corp. During 2008, 30% of merchants that accept international orders online and that CyberSource surveyed stopped taking orders from one or more countries because of high levels of fraud.

76% of merchants in that group shut off orders from Nigeria, 58% from Ghana, and 32% from Pakistan. Other countries blocked in 2008 included Indonesia, 23%, Singapore, 19%, Romania, 18%, China, Russia, and Vietnam with 13% each, and South Korea and Hong Kong with 10% each

The economy of Nigeria is one of the fastest growing in the world. The International Monetary Fund is estimating a growth of 9% in 2008 and 8.3% in 2009.

April 13th 2008 - The International Monetary Fund (IMF) yesterday forecast nine per cent economic growth and single digit inflation for Nigeria in its newly released Regional Economic Outlook for sub-Saharan Africa.

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