E-Payment Transactions In Nigerian Banks Increased By 23% in 2016 Q3 -

The National Bureau of Statistics released the report of electronic payment channels in the Nigeria banking sector Q3 2016. The report shows that;

Volume of 238.8 E-payment transactions worth N18.1tn was done in Q3 2016 compared to volume of 202.8m worth N14.7tr in q2 2016.
NIP accounted for d largest share of e-payment transactions in q3 2016 with 52.82% followed by NEFT (30.07%), Cheques (7.79%) & ATM (6.87%).
Volume of Cheque transactions rose to 3.0m in q3 2016 from 2.8m in q2 though value declined to N1.41tn in q3 2016 from N1.44tn in q2 2016.
Volume of NEFT transactions rose to 9.5m in q3 2016 from 7.1m in q2 2016 while value rose to N5.4tn in q3 2016 from N3.0tn in q2 2016.
Volume of ATM transactions rose to 157.1 m in q3 2016 from 136.3m in q2 2016 while value rose to N1.2tn in q3 2016 from N1.1tn in q2 2016.
The report also shows that Volume of POS transactions rose to 16.0m in q3 2016 from 13.5m in q2 2016 while value rose to N0.18tn in q3 2016 from N0.16tn in q2 2016.
Volume of Internet transactions rose to 3.5m in q3 2016 from 2.6m in q2 while value rose to N0.30tn in q3 2016 from N0.26tn in q2 2016.
Volume of Mobile payments rose to 10.8m in q3 2016 from 8.6m in q2 2016 while value rose to N0.22tn in q3 2016 from N0.16 to in q2 2016.
Volume of NIP transactions rose to 38.8m in q3 2016 from 31.5m in q2 while value rose to N9.5tn in q3 2016 from N8.7tn in q2 2016.

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