The value of transactions over Point of Sales (PoS) terminals in Nigeria surged to N18 trillion in 2024, hitting an all-time yearly record.
The Central Bank of Nigeria (CBN) has introduced a daily transaction limit of N100,000 per customer for cash-out transactions conducted by Point of Sale (POS) agents.
Point-of-Sale (POS) transaction values witnessed a downturn in Nigeria for the first quarter of 2024, registering a N225.73 billion drop when compared to the corresponding quarter of the previous year.
The latest data from the NIBSS showed that the strong growth recorded across the various e-payment channels in 2021 continued into 2022.
Point of Sale transactions in Nigeria dropped marginally by 0.74% to N552.26 billion in October 2021 compared to...
Transaction volume and values dropped across major platforms due to the Covid-19 imposed lockdowns.
Despite the increase in adoption of PoS by merchants, the value of electronic transaction done via PoS dropped by N59.26 billion between December 2019 and January 2020.
The volume and value of PoS transactions grew 46.7% y/y and 40.6% y/y to 41.3 million transactions and N313.4 billion respectively in Jan 2020.
Elias Igbinakenzua said the charges on PoS transactions are cheaper and it’s a way to motivate Nigerians to embrace CBN's cashless policy.
The latest selected banking sector data released by the National Bureau of Statistics (NBS) shows that the total value of transactions for both Point of Sales (POS) and Automated Teller Machines (ATMs) during the first quarter (Q1) of 2019 decline by N258 billion.
In total, E-payment channels in Nigeria for the first half of 2018 was N65.3 trillion in the first half of 2018 compared to N49.4 trillion in the same period in 2017.
