ABUJA
(NAN) ― The Central Bank of Nigeria (CBN) said Point of Sales (POS)
transactions value had increased from N38 million per month in 2012 to
N24 billion monthly in June, 2014
This is contained in a report on e-payment transactions released by the apex bank in Abuja on Monday.
According to the report, mobile money transaction values up to N819 million monthly.
“The POS transaction increased in volume from less than 2000 in January 2012 to 1.6 million per month as at June 2014.
“Over 150,000 POS terminal is presently across the country and 22 mobile money operators has been licensed,’’ it added.
It
added that licensed Payment Terminal Service providers increased from
five to 10 to increase POS terminal penetration across the country.
It
noted that Nigeria Inter Bank Settlement System (NIBSS) instant
Transfer had increased in volume from 87,000 transactions a month in
January 2012 to 3.1 million transactions a month as at June 2014.
The
report added that NIBSS instant transfer had increased in value from
N51 billion monthly from January
2012 to over N1.5 trillion monthly as
at June 2014.
Commenting
on progress made so far with cashless policy since inception, it said
that implementation of the first and second phase in Lagos and six other
states was successful.
It
added that tremendous progress had been made in the use of tokenisation
and encryption for electronic transactions, adding that security
measures in cards was also enhanced.
It
said that the apex bank would continue monitoring and reviewing of the
cashless policy and would implement connectivity agreement with
NIGCOMSAT.
The
report added that effort would also be made to conduct appraisal of the
cashless policy implementation and implement incentives schemes for
alternative payment channel usage.
The
report noted that the efforts were in place to ensure implementation of
proposed internet hot spots in the 774 local governments before the end
of the year.
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