Banks close 229 branches amid rapid PoS expansion
Nigeria’s banking sector recorded a significant contraction in its physical presence over the past year as Deposit Money Banks shut down 229…
PoS
CBN orders banks to configure ATMs, PoS for foreign cards
In a move aimed at ensuring uninterrupted and efficient transactions for users of foreign-issued payment cards across Nigeria, the Central Bank of…
CBN mandates dual connectivity for PoS transactions
The Central Bank of Nigeria has issued a directive compelling all financial institutions, acquirers, and payment service providers to implement mandatory dual…
80% of Nigerian pharmacies now prefer digital payment methods — Report
A recent report by payment company Moniepoint reveals that 80% of pharmacies in Nigeria now pay for goods digitally, with 56.8% utilizing…
PoS transactions reach N6.23tn in July 2024 – Report
Point of Sale transactions in Nigeria totaled N6.23 trillion from January to July 2024, according to data from the Nigeria Inter-Bank Settlement…
POS transactions reduce by N226bn as currency circulation increases
The first quarter of 2024 witnessed a notable decline in Point-of-Sale transaction values in Nigeria, reflecting a decrease of N225.73 billion compared…
FCCPC to crack down on trade groups over fixed prices
The Federal Competition and Consumer Protection Commission announced on Tuesday that it would soon start enforcing legislation across the country to stop trade associations…
PoS operators insist on new charges
The Association of Mobile Money and Bank Agents in Nigeria’s national public relations officer, Oluwasegun Elegbede, has demanded new service charge prices. The…
AMMBAN blames inflation for new PoS charges
The Association of Mobile Money and Bank Agents in Nigeria, has cited the impact of rising inflation costs on agents AMMBAN claimed…
Naira scarcity: Petrol stations rejecting PoS face sanctions, Ekiti warns
In response to the current cash scarcity in Nigeria, the Ekiti government has issued a warning to filling stations that refuse to…
Cashless policy: How to get PoS devices for your business
PosThe recent naira crisis experienced as a result of the redesign of the N200, N500, N1000 notes by the Central Bank of…
Scarcity: Accept POS payment, FG orders fuel stations
The Federal Government of Nigeria has ordered fuel stations to make use of Point of Sale and accept payment via bank transfers.nairafuel…