Every delayed supplier payment comes at a cost. For some businesses, it means inventory arrives late. For others, it means production slows down, customer orders are delayed, or overseas suppliers begin requesting upfront payments.
For many Nigerian businesses, the challenge isn’t finding international suppliers, it’s paying them quickly, securely, and without unnecessary costs.
While traditional international bank transfers remain common, more businesses are now exploring stablecoins as a faster and more efficient way to settle cross-border payments. In fact, the International Monetary Fund (IMF) recently noted that stablecoins are increasingly being used in Nigeria not only to preserve value but also to pay overseas suppliers, particularly as businesses look for faster and lower-cost alternatives to conventional payment channels.
Here’s how stablecoin payments work and why they’re becoming an important part of international business.
Why Paying Suppliers Abroad Can Be Challenging
Sending money to suppliers outside Nigeria often involves multiple intermediaries, foreign exchange processes, banking hours, and settlement delays.
Depending on the payment route, businesses may also deal with unpredictable transfer fees and exchange rate fluctuations before the supplier receives payment. These delays can disrupt supply chains and business relationships.
According to the World Bank, Sub-Saharan Africa remains the world’s most expensive region for cross-border remittances, with average transfer costs significantly above the global target of 3%. While supplier payments differ from personal remittances, they often rely on similar international payment infrastructure, exposing businesses to many of the same challenges.
Why Stablecoins are Becoming a Business Payment Tool
Stablecoins are digital assets designed to maintain a stable value by being pegged to assets such as the US dollar. Unlike cryptocurrencies known for price volatility, dollar-backed stablecoins like USDT and USDC are increasingly being used for practical business transactions, including international supplier payments.
Their biggest advantage is efficiency. Payments can be initiated at any time of day, aren’t limited by banking hours, and can settle much faster than traditional international transfers, depending on the blockchain network used.
The trend is growing rapidly. The IMF estimates that Nigeria received about $59 billion in crypto inflows between July 2023 and June 2024, accounting for roughly 60% of stablecoin inflows in Sub-Saharan Africa. The report highlights that households and businesses are increasingly using stablecoins for cross-border payments and supplier settlements.
Making payment with stablecoins is a straightforward process when you and your supplier have agreed on the invoice amount and payment method. Unlike traditional international transfers that may involve multiple banks and longer settlement times, stablecoin payments can move directly between parties once all the payment details have been verified.
How to Pay International Suppliers in 3 Simple Steps with Zabira Business
Sending money to overseas suppliers doesn’t have to involve complicated processes or long waiting times. With Zabira Business, you can complete international supplier payments in three simple steps.
1. Create Your Account: Sign up for a Zabira Business account and complete your business verification. The process is designed to be quick while ensuring every transaction is secure and compliant.
2. Choose Your Recipient: Enter your supplier’s payment details and review the transaction carefully before proceeding. Confirming the recipient’s information helps ensure your payment reaches the right destination without unnecessary delays.
3. Send Instantly: Complete your payment in just a few clicks. Once your transaction is confirmed, your supplier receives their payment within minutes, helping you settle invoices faster and keep your business moving.
Every successful business depends on strong supplier relationships, and timely payments are a big part of building that trust. As more businesses embrace faster and more efficient ways to move money across borders, having a payment partner that keeps pace becomes just as important as finding the right suppliers.
Zabira Business gives you a simpler way to manage international supplier payments, so you can spend less time navigating payment challenges and more time growing your business.
Speak to our team to book a demo and see how Zabira Business can support your business.
