As of today, the exchange rate of dollar to naira is NGN1,590.01 to USD1. But it's a different case for Payday. Before we dive into the exchange rate of dollar to naira on the Payday app, let's quickly answer the questions people are asking about Payday operations in Nigeria.
Is Payday still working?
Payday is still working, functioning and operational in Nigeria. However, it's important to know that the payment platform is currently facing some challenges. The Nigerian fintech company has temporarily suspended its partnership with its MasterCard Card issuer - MasterCard, which affects the issuance of new Mastercard virtual cards. However, users can still utilize its Visa card services without interruption.
Despite these setbacks and challenges, Payday never stops to offer its virtual dollar card to Nigerians. The Virtual USD Card can be used to carryout transactions internationally on any online shop, and also pay bills such as TV subscription like Netflix and YouTube Premium in Nigeria. The virtual usd card service come amid restrictions on international transactions imposed by apex bank of Nigeria - making the right service people are expecting and beneficial for Nigerians to make payment on any international websites like Alibaba.com.
Furthermore, Payday has been in discussions about a potential acquisition, indicating ongoing interest in the company's future despite its current operational hurdles. Overall, while there are some limitations, Payday remains functional and is actively managing its services.
What is Payday Dollar to Naira Rate Today?
As of today, the exchange rate on Payday, formerly Changera, shows that 1 US Dollar (USD) is equivalent to approximately 1,626 Nigerian Naira (NGN). This conversion rate implies that larger amounts of USD translate into significantly higher amounts of NGN. For instance, converting 100 USD would yield 162,600 NGN, while 1,000 USD would convert to 1,626,000 NGN.
Conversely, when converting Nigerian Naira to US Dollars, 1 NGN is equivalent to about 0.00061501 USD. This means that larger sums of NGN result in smaller amounts of USD. For example, converting 50,000 NGN would give approximately 30.75 USD.
Payday is a fintech platform founded by Favour Ori that provides these currency conversion services along with other global payment solutions, including virtual Mastercards (that was recently suspended), Visa Dollar Cards and payments for foreign employees.
