POS

The increased service charges in Nigeria, which took effect on Monday, have been protested by a group of point-of-sale operators. Nigeria's Association of Mobile Money and Bank Agents announced new service charges in June. The…

Having survived the Naira Redesign policy that distorted business operations in the country, Point of Sales (PoS) operators have adopted a uniform fee structure that increases charges by at least 200 percent. Unlike before when customers…

Contrary to claims that the Central Bank of Nigeria (CBN) policy on naira redesign will deepen electronic transactions in the country, February data from the Nigeria Inter-Bank Settlement System (NIBSS) may have shown otherwise. In…

Business was good on Monday, February 13, 2023, for Point of Sales (PoS) operators who have now turned Naira sale to a casino with a minimum service charge of N400 for every N1,500 to N2,000 issued out to a customer. …

As the new deadline to phase out old naira notes of N200, N500, and N1,000 ends today. As Nigerians grapple with the shortage of cash under the new Naira policy, data from the Nigeria Inter-Bank Settlement System (NIBSS) indicate…

Nigeria’s leading financial institution, Stanbic IBTC Holdings PLC, has highlighted its array of solutions to support businesses in the country to make the most of 2021. The solutions on offer are geared towards providing access to…

DAVID IBEMERE The total N29 trillion electronic banking transactions within three months of the lockdown measures to lessen the spread of Covid-19 shows that Nigeria's digital drive is moving on full throttle. …

AMINA HUSSAINI Central Bank of Nigeria (CBN) has given banks two weeks, starting from June 8 to resolve all the backlog of complaints on their electronic payment platforms and refund the money to their customers. The bank in a…

The Central Bank of Nigeria reviewed the messaging format for Point of Sale (PoS) machine transactions on Monday. A statement signed by CBN Director, Payment System Management Department,  Musa Jimoh said the move was part of its…

The Federal Competition and Consumer Protection Commission on Tuesday stopped the additional N50 charge being imposed on transactions conducted on Point of Sale (POS) machines. This was made known in a statement by FCCPC’s Chief…