NIBSS’ alleged terminal failure rocks e-payment transaction
The deluge of dispense error and non-reversal of failed transactions at the Point Of Sale (POS) terminal and ATM, have been largely attributed to the Nigeria Inter-Bank Settlement System (NIBSS). The blame is coming as the platform of the institution that is strategic for clearing and settlement of inter-bank transfers and payments, has been reportedly…
AMMAN, others seek review of PoS guideline for agent business
Electronic payment stakeholders have urged central bank of Nigeria (CBN) to urgently review its guideline on the use of point of sale (PoS) terminal in the country.
Rivers traders go cashless, embrace POS
When the Central Bank of Nigeria, (CBN), introduced the Point of Sale (POS) system in 2012, to further drive home its cashless policy, which is aimed at improving efficiency and enhancing the payment system, some persons at the informal sector, especially petty traders...
Stakeholders seek mandate for ejournal implementation in PoS terminals
Stakeholders in the electronic payment ecosystem have urged Central Bank of Nigeria (CBN) to mandate Payment Terminal Services Providers (PTSPs) to implement electronic journal at point of sale terminal transactions to restore confidence of merchants in the system. They stated this at Point of Sale (PoS) Innovation Summit with the theme: “Expanding Retailers, Merchants Possibilities’,…
Experts to discuss challenges hindering PoS adoption in Nigeria
Challenges confronting the deployment of Point of Sales (PoS) will be a major discussion at the third quarter edition of the PoS Innovation Summit, scheduled for September 19, in Lagos.
FinTech stakeholders urge banks to improve PoS capacity
According to them PoS has an important role in Central Bank of Nigeria (CBN) financial inclusion policy.Emmanual Agha, managing director, Innovectives LLC, who delivered keynote at the event, said that PoS device is like a mini bank where bank customers can do everything they can do in a banking hall.
Firm empowers CDAs with free POS
As part of moves to foster its community relations with customers under its network, Ikeja Electric Plc (IE), has empowered members of the Community Development Associations (CDAs) through provision of free Point of Sales (POS) terminals and loans for the Payment Agents, in Ikorodu. The 12 selected CDAs were beneficiaries of the pilot scheme IE…
Robber who poses as mad man nabbed with POS machine
Detectives attached to the Lagos State police command have arrested a suspected armed robber, who disguised as a lunatic to maim innocent persons. It was gathered that the 27-year-old suspect, Olayinka Ogundimu, was arrested at Anifowoshe Street, Ikeja area of the state. Residents had informed the Divisional Police Officer (DPO) at MAN centre, who…
Experts seek policy to drive PoS penetration
Inadequate investments in Point of Sales (PoS) terminals have been identified as one of the major reasons the Central Bank of Nigeria (CBN’s) Cashless Economy initiative is not connecting as it should.
Merchants identify roadblocks to PoS business
Merchants making use of point of sale (PoS) terminals for transactions at their locations have reeled factors hindering the use of PoS device as a means of payment and urged actions to address them.