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Gunmen kill POS operator in Aba

By Ugochukwu Alaribe – Umuahia One week after armed robbers shot dead a Point of Sale (POS) operator along Market Road, Aba, Abia State, another operator identified as Ezinne Grace Iroh, has been killed at Ukaegbu Road, in Ogbor Hill area of the city. Sources told Vanguard that the gunmen numbering three stormed Ezinne’s shop
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PoS fraud poses nightmares to bank customers

By Elizabeth Adegbesan There are indications that bank customers will continue to face nightmares of losing money from fraud perpetrated by Point of Sale (PoS) agents with or without keeping their bank details safe. Mrs Victoria Agbabiaka, a victim of PoS fraud who narrated her recent experience with fraudsters to Vanguard MoneyDigest said she did not divulge
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PoS, mobile transactions decline, as experts blame banks

By Elizabeth Adegbesan The volume and value of transactions through Point of Sale (PoS) terminals and Mobile Interscheme transfers (Mobile phones) declined in August. Analysis of the current Electronic Payment Channels data from Nigeria Interbank Settlement System (NIBSS) showed that the volume of PoS transactions fell month-on-month (MoM) by 3.2 million or six percent to
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COVID-19: ‘POS, Mobile transactions volume hits 4-year high in Nigeria’

…As agric sector growth dips by 2.57% in Q2’20 By Prince Okafor Despite the negative impact of coronavirus (COVID-19) pandemic witnessed by business owners, along with households across Nigeria, fresh indications have emerged that financial services across the nation witnessed positive growth. According to the Principal Lead MasterCard Advisors for Sub-Saharan Africa, Bola Asiru, “POS
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UK empowers 10m digitally-vulnerable Nigerians against COVID-19

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
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