A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
THE widespread and incessant failure of transactions through Point of Sale, PoS, terminals is threatening the cashless policy as well as the financial inclusion efforts of the banking industry.
Read More THE Nigerian Interbank Settlement System, NIBSS, and banks have agreed to implement real time reversals by Point of Sale, PoS, terminals effective from next month.
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Card payments on Point of sale (PoS) terminals in Nigeria have grown in volume from a paltry 5,000 monthly volume in 2011 to 30 million as at November 2018, all thanks to the success of the Cashless Nigeria initiative launched by the Central Bank of Nigeria, CBN, and all banks in Nigeria in 2011. About seven million cards made the 30 million card payments out of an estimated 40 million active cards in circulation in Nigeria; other cards were generally used on Automatic Teller Machines (ATM).
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Reports from Nigerian Interbank Settlement System, NIBSS, have indicated that Nigeria’s electronic payment (e-payment) services recorded transactions worth N56.85 trillion from January to September, 2018.
Read MoreMadesoftlogic, an indigenous technology company has unveiled ESOPOS, a cloud-based point of sale, POS, software and social marketplace solution for retailers, wholesaler service providers and other businesses in the country.
Read More The value of electronic payment transactions through Point of Sale (PoS) terminals rose by 39 percent, year-on-year, to N297 billion in the first two months of the year.
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The Anambra State Government has stopped the use of revenue agents to collect levies, taxes and fees in the state to avoid a situation where unsuspecting citizens are defrauded by the agents who also defraud the state by short-paying the state after collecting the revenues.
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Verve International, the leading African payment card brand, has launched a revolutionary mobile app, ‘Verve World’, which enables cardholders to store all their payment options and to carry out everyday transactions without physically using their cards.
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