PoS deals hit N808bn in three months

  Amidst increasing complaints of transaction failures, Nigerians spent N808.8 billion over Point of Sales (PoS) channel in the last three months, New Telegraph has learnt. The first quarter figure represents 28 per cent increase when compared with transactions value of N580.9 billion recorded in the same period of 2018. Data released by the Nigeria Interbank Settlement System (NIBSS) revealed that the value was realised from 83.7 million deals carried out across the country from January to March. Monthly analysis of the data showed that N222.9 billion was spent over…

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80,000 PoS terminals inactive, denies banks revenue

Commercial banks in the country are currently losing millions of naira to inactive point of sales (PoS) terminals according to Nigeria Interbank Settlement System (NIBSS). New Telegraph learnt that about 80,000 out of the 200,000 installed terminals remained inactive as at the end of 2018. NIBSS, in a review of the electronic payment platform, titled: ‘The State of Point of Sale Terminals Use in Nigeria’ expressed concerns that banks’ investments in PoS terminals was becoming a waste due to inactivity of some of the terminals. “Banks invest a lot of…

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PoS deals hit N230bn in one month

●Pushes 11 months’ transactions to N2.03trn   Value of transactions over point of Sales (PoS) terminals across the country rose to N230 billion in November, New Telegraph has learnt. While this came as the highest monthly value recorded in the year so far, it brought the total value of transactions over the electronic platform in the last 11 months to N2.03 trillion. In firm embrace of the cashless policy of the Central bank of Nigeria (CBN), the country had last year recorded PoS transactions valued at N1.4 trillion. However, with…

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Cashless: PoS deals hit N726.bn in 7 months

INPETUS Reduction in charges imposed on merchants will encourage PoS adoption   The value of cashless transactions carried out on the point of sales (PoS) terminals deployed across the country has risen to N726 billion this year, New Telegraph has learnt. Investigations revealed that the transactions, which were executed between January and July this year, were executed in 72 million deals on over 120,691 PoS terminals deployed across the country. According to the latest industry data obtained from the custodian of the banking industry’s electronic payment activities data, the Nigeria…

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PoS, mobile money adoption rated low

Stakeholders in the e-payment circle have warned that the seeming slow growth of point of sales (PoS) and mobile money channels of payment could hamper attainment of 80 per cent financial inclusion target by the Central Bank of Nigeria (CBN). KUNLE AZEEZ reports  In 2011, Nigeria, through the Central Bank of Nigeria (CBN), set an ambitious target of having 80 per cent of all Nigerians financially served by 2020 by leveraging the various electronic payment platforms that have been initiated to drive the cashless economy scheme. Six years after, the…

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UEFA League: Barca eye yet another famous comeback

    Little over a month after producing the greatest comeback in Champions League history, Barcelona need another special turnaround as they face Juventus in the second leg of their quarter-final on Wednesday. Luis Enrique’s side were taken apart in the first leg in Turin, losing 3-0 to a Juve team inspired by Paulo Dybala, who scored twice. In the last 16 they became the first team ever to overturn a 4-0 deficit when they beat Paris Saint-Germain 6-1 in the return at the Camp Nou, so fans are hoping…

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Documents show Prince’s painkiller habit

  Numerous opioid painkillers were found at US singer Prince’s home shortly after his death last year, unsealed court documents show. Some of the pills discovered at Prince’s Paisley Park estate in Minnesota had prescriptions in the name of his friend and bodyguard. But the documents do not offer evidence about the source of the fentanyl that killed the singer on 21 April 2016. Medical examiners have concluded that he died from an accidental overdose. No-one has been charged over the death of the 57-year-old singer. The court documents were…

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EPL: Arsenal survive Boro scare

  Arsenal kept alive their hopes of finishing in the top four of the Premier League with a narrow victory at second-bottom Middlesbrough. A dull opening was brought to life when Alexis Sanchez’s superb free-kick gave Arsenal the lead just before the break. Middlesbrough responded soon after the restart when Alvaro Negredo volleyed in Stewart Downing’s pinpoint cross. However, Mesut Ozil secured the much-needed three points for Arsenal with a first-time strike at the near post, reports the BBC. The win – only Arsenal’s third in their past nine league…

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Dickson signs 2017 budget, education bill into law

Bayelsa State Governor, Seriake Dickson, has signed the 2017 Appropriation Budget of N243.2 billion and the Educational Development Trust Fund Amendment bills into law. It will be recalled that the governor proposed an educational trust fund bill to help the less privileged in the state acquire education. Assenting to the bills at the Government House, Yenagoa, the governor said the budget, christened “Budget of Repositioning for Consolidation,” was aimed at completing various ongoing projects in the state. Dickson, who noted that the government appropriated N111 billion for capital projects alone,…

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