CBN Orders Mandatory Dual Connectivity by 2026 to Cut PoS Failures Nationwide
The Central Bank of Nigeria has directed all financial institutions, acquirers and payment service providers to implement mandatory dual connectivity ...
Tag: PoS
Rising Bank Charges Threaten Nigeria’s Financial Inclusion Gains
Financial experts are raising concerns that the increasing number of charges on financial transactions in Nigeria could reverse the ...
POS Operators Exploit Cash Scarcity Due to Poorly Executed Cashless Policy – Expert
Nigeria’s ongoing cash shortage is the result of a poorly executed cashless policy and ineffective management by banks, according to ...
Moniepoint Enters All-in-One POS Market with New Device for Seamless Business Management
Moniepoint is set to revolutionize business management in Nigeria with its new all-in-one point-of-sale (POS) terminal, currently in testing. This ...
Cash Scarcity: Lagosians Forced to Pay High Fees as ATMs Run Dry
In recent times, Lagos residents have faced severe cash shortages, with Automated Teller Machines (ATMs) across the city running out ...
CBN Policies: POS Operators Increase Transaction Charges
Point-of-sale (PoS) operators across Nigeria have increased withdrawal charges from N100 to N150 or N200 for every N5,000 transaction. The ...
Nigeria’s PoS Terminals Soar to 3.04 Million Amid Cashless Shift
As of July 2024, the number of Point of Sale (PoS) terminals deployed across Nigeria surged to 3.04 million, marking ...
Lagos State Targets Distribution of 1 Million POS Machines to Boost Youth Employment and MSMEs
Lagos State has set an ambitious target of distributing 1 million Point of Sale (POS) machines to youths, men, and ...
CBN Issues Decisive Warning, Imposes 10% Fine on Banks Linked to Cash Hawking
The Central Bank of Nigeria (CBN) has issued a decisive warning to Deposit Money Banks (DMBs), cautioning them against cash ...
Zone Payment Partners NIBBS to Boost Digital Transaction as Nigerian Electronic Payment Hits N566.3 Trillion in 7 month
The number of Point-of-Sale (PoS) terminals in Nigeria has reached 26.54 million within just seven months, according to data from ...
