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Posted by on Friday January 15, 2016 at 9:31:40:

I remember a conversation I had with an elderly Nigerian probably in his 60s who was just ranting about how he subscribed to Netflix and paid with his GTBank Naira Mastercard and I remember asking him how he paid for subscription since Naira cards were banned by the CBN from making foreign currency payments and he said that his GTBank Naira Mastercard was accepted.

It made me feel a bit stupid because I've been trying to use my Naira card on Amazon.com on several occasions after the CBN ban but it was not working. How could an older Nigerian be smarter than me in term of online payment? Was there something I was doing wrong?

I later got the picture clearer after I signed up for Netflix because I discovered that you don't need to make any payments yet until sometime in February 2015 when signing up for Netflix but you just have to provide your Naira Visa or Mastercard details when signing up but billing would start in February for those who did not cancel their subscription.

In essence, Naira cards will be accepted by Netflix despite the CBN bank for people who are just signing up since their cards are not billed immediately. However, their cards are most likely going to be rejected after Netflix tries to bill them and it was unsuccessful. Yes, Nigerian banks have that ability so simply block your Naira cards from making payments to foreign merchants and that's partly how the CBN wants to control the value of the Naira. You shouldn't blame them for that.

So, I later got to understand how the man signed uo for Netflix despite the CBN bank on Naira cards and why my Naira cards were no longer working on Amazon. Nigerians who have already signed up for Netflix or try to subscribe after the free membership promo will be unable to keep their subscription active after the free viewing period is over as Netflix will try to bill their cards in foreign currency and it would most likely fail.

Are there other ways to make payment to Netflix from Nigeria without the need for Naira cards? Well, they also accept Paypal payments but I'm not sure how that will work either since Paypal Nigeria accounts are also linked to Naira cards. Well, someone told me he was able to make Paypal payments from Nigeria even after the CBN bank on Naira cards but the exchange rate was at the black market price which was simply ridiculous.

If Naira cards and Paypal Nigeria accounts eventually start working on Netflix, the exchange rate on Netflix fees will be something many Nigerians would be concerned about and the cost of internet service that it requires is even another major issue. Some Nigerians would probably prefer that Netflix accepts Naira payments directly such as through bank or ATM deposits rather than paying in foreign currency just like Iroko TV does.

I've also considered if Netflix will accept Paypal payments from Nigerian residents who make use of a US Paypal account rather than a Paypal Nigeria account.

I've subscribed for Netflix but I've not really watched a full movie yet since I've decided that it's better to first get an unlimited internet data plan before streaming movies on Netflix.

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