Why CBN set N100,000 daily withdrawal limit on PoS terminals
CBN has explained the introduction of a N100,000 daily withdrawal limit on point-of-sales, PoS, terminals as part of efforts to curb fraud
The Relationship between Payment Systems and Banks in Africa
By Osaze Omo-Ojo Payment systems consist of the process, people, methods, technologies, rules, instruments and practices. Broadly speaking, there are two types of payment systems; traditional and modern. Traditional payment systems involve documentation credits (letters of credit) and negotiable instruments (cheques). The arrival of computers, electronic means of communication, and mobile devices gave rise to […]
PoS transactions fall by 16%
Financial sector experts are divided over the 16 percent month-on-month, MoM, decline in the value of Point-of-Sale, PoS, transactions in January 2020.
Police officer with POS machine, stops vehicle, demands ATM card from Nigerians
Video of a police officer with Point of Sale machine, POS, demanding Automated Teller Machine, ATM, card from Nigerians to allegedly transfer money to his account has emerged.
PoS innovation summit to expose stakeholders to boundless opportunities
To provide stakeholders in the Nigerian payment system with information on how to maximise the boundless opportunities it presents, E-payment Company, Global Accelerex, is set to host its 7th edition of PoS Innovation Summit Wednesday, in Lagos.
PoS transaction failures threaten cashless policy, financial inclusion
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.
