Tag
POS
The number of Point of Sales (PoS) machines deployed by merchants and individuals across Nigeria rose to 1.8 million in March this year.
The value of transactions over Point of Sales (PoS) terminals in Nigeria jumped to N735.6 billion in September 2022.
POS transactions in Nigeria jumped to N4.6 trillion in the first seven months of 2022, a 29.3% increase compared to N3.56 trillion recorded in 2021.
Nigeria recorded a total of N6.43 trillion as POS transactions in 2021, hitting the highest levels on record....
Recent data from the Nigeria Inter-Bank Settlement System (NIBSS) showed solid growth across the various e-payments channels for...
The Federal Government, through the Ministry of Humanitarian Affairs, Disaster Management and Social Development, has announced the launch...
Nigerians are steadily increasing their preference for cashless payments as against holding and transacting in cash.
The apex bank said this is in line with its resolve to enhance the quality of service bank customers are given. Nigerian banks are, therefore, required to implement the revisions starting from June 8, 2020.
The number of current accounts held by bank customers dropped by 4.5 million to 25.3 million while PoS transactions hit N373 billion.
Investigations have disclosed that some retail outlets are still collecting N50 PoS Stamp Duty charge from customers despite CBN's directive.
In a directive issued by the Federal Competition and Consumer Protection Commission (@FCCPCnigeria), passing N50 charge on consumers is counterproductive, burdensome and inconsistent with the underlying cashless policy of the CBN
The Nigerian government has reviewed its policy on stamp duty charges, levied on electronic payment.