June 16, 2009

Chams in agreement for mass PoT terminals deployment

Leading technology   solutions company, Chams Nigeria Plc, is set to finalize plans to deploy thousands of point of transaction terminals across the country.

This follows the conclusion of discussions with its international partners: Daewoo Corporation and Bitel, both from South Korea yesterday in Lagos Chams said in a statement last week that a formal agreement signing ceremony is planned to hold in Lagos  between the three companies.

Upon the completion of the signing ceremony, Paymaster Limited, a subsidiary of Chams dedicated to providing electronic payment solutions, is expected to commence immediate deployment of the terminals to different merchants for use in their outlets.

Currently, Paymaster has deployed over a 1,000 PoT terminals at various merchant sites including supermarkets, eateries, restaurants, bars and other sites.

Commenting on the development, the Acting Managing Director, Paymaster Limited, Mr. Charles Uwagbale, said the firm was embarking on the project due to the identified need for such a solution in Nigeria.

He added that the firm believed that the next area of growth in the Nigerian electronic payment sector was that of PoT terminals, which he noted have been slow to catch on partly due to challenges with telecommunications network as well as the limited education on the benefits of the system.

He added that Nigerians would experience greater convenience in business transaction once they embraced the use of PoT terminals, especially as this would result of increased cashless transaction.

He said, “Nigerians have embraced ATM cards use in a very impressive manner in the last five years.
However, we believe that the revolution cannot be complete without an effective cashless system based on the use of PoT terminals. This is what Chams through Paymaster intends to deliver in the country over the next few months.”