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NIBSS: N879bn paid in 117,130 POS deals in Q-1 2019


NIBSS: N879bn paid in 117,130 POS deals in Q-1 2019
NIBSS: N879bn paid in 117,130 POS deals in Q-1 2019

By Folasade Akpan

Reports from the Nigerian Interbank Settlement System (NIBSS), indicate that Nigeria’s Point of Sales (POS) recorded 117,130.91 transactions from January to April.

The report, obtained by the News Agency of Nigeria (NAN) on Sunday, showed an increase of 42,816.99 when compared to the 74,313.92 that was recorded in the corresponding period of 2018.

The report also showed that 902,978 terminals were deployed in the same period, an indication of 231,441 more than the 671,537 that was recorded in the first quarter of 2018.

In the period under review, 1.09 million POS terminals were registered, an increase of 306,570 more than the 789,444 registered in the first quarter of 2018.

According to the report, there is a rise of about N232.86 billion from N647.04 billion to N879.9 billion in the use of POS machines to carry out payments by Nigerians.

Meanwhile, for Electronic Bills (e-bills) payment, 338,021 transactions worth N167.65 billion were carried out from January to April 2018, while 412,348 transactions valued at N189.5 billion were carried out in the first quarter of 2019.

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Source: NAN

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