Nigeria Inter-Bank Settlement System Plc(NIBSS) revealed that 48% of the Point of sale machines acquired by banks for merchants and business outfits are dormant.
The Executive Director, Business, NIBSS, Mrs. Christabel Onyejekwe, said out of a total of 120,000 PoS machines in the country, only 62,000 were active, while a total of 100,000 terminals were already registered with the company.
She said, “Electronic payments have been growing significantly in Nigeria and this is really encouraging. In December 2015, we recorded 18 million transactions for that month alone. This is significant because 15 million transactions used to be the highest.
“The growth in e-payment is interesting. For PoS, we have grown from just 5000 active PoS terminals in 2012 to 62,000 currently and this is very significant.”
Cashless policy becoming effective
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