maverick1995:
Most of you are dumb.
There is a waiver for POS operators in the missive distributed; go and check it.
It will even favor POS business more.
The government even earmarked it there.

See the attached file

Dsalvo:


Stop calling people dumb when you are the dumb person yet can't see it. POS can get whatever waiver they want but they will still not be able to dispense more cash to customers who have reached their weekly or daily limit.

They will end up having excess cash customers cannot take off them because they have already withdrawn their upper limit. This policy does not favour POS operators.

Most people will even stop using POS altogether because a cash withdrawal limit of 100k weekly and 20k daily leaves them much better off using their ATM to withdraw 20k to pay 35 Naira charge than withdraw same amount with a POS operator to pay 400 Naira commission.

POS operators are the big losers with this policy. Take a minute to think about it and stop arguing blindly.

You forget that this policy is about making Nigeria more cashless and not empowering POS operator to be ad hoc replacements to banks as they operate currently.

seanwilliam:
why do you need more than 20k cash? For what ?

Dsalvo:


That is you. Most things I do not pay cash. I use my card at supermarket for shopping.

I pay for meat and fish at cold stores with my card. Bars and restaurants I use my card.

Even fast food like chicken republic, Mega Chicken, Mr.Biggs etal I used my card.

Shopping online I use my card. What sort of stubborn life are you living bro? If non-cash payment options were absent then I can understand you.

As it is, you just appear a rigid and change-resistive nigga.

maverick1995:
So, you'll walk down to an ATM to withdraw 20k which will be paid in 50, 100 & 200 naira denominations respectively?
You are not using your brain bruv.

And to make the weight of this argument light- this policy will not come into fruition.

thebosstrevor1:
Most POS operators are concerned about the new CBN cashless policy, I personally think they shouldn't stress themselves and I think the new CBN policy is a good one for them.

Since a cashless policy is the primary goal of the CBN, if you are a pos operator, you can use this to your advantage, now that the government is encouraging a cashless system that means more business will come your way.

for instance, if someone wants to pay his children's school fees, that person can walk to any POS operator and do that, and you will be able to charge your usual transaction fee

if someone wants to pay for goods and they are far away from an atm or bank, they can now use your POS services to do that transaction

if someone wants to transfer money from their atm to their family member in another location, then it is easy for them to use your POS

people that want to receive cash can also use your POS service, they will transfer the money they need to your account and you give them cash while you take your commission

The CBN cashless policy will bring more customers to your POS Business, now people will be able to pay for anything through POS and you will cashout, you will get more customers than ever before.

Anyway, just see the big picture, fantasize, dream and think of how much money you will make from CBN cashless policy.

PARADIZEPRIEST:
STOP RANTING OVER PAPER MONEY,PAPER MONEY IS GETTING OUTDATED IN CIVILIZED WORLD.
CBN SAYS AS INDIVIDUAL N100K PER WEEK(OR 20K PER DAY TIMES 5DAYS),BUT IF YOU NEED ANY THING ABOVE 100K YOU PAY SERIOUS FINE
CBN SAY FOR COMPANY N500K PER WEEK(OR 100K PER DAY TIMES 5DAYS),BUT IF YOU NEED ANY THING ABOVE 500K YOU PAY SERIOUS FINE
BY THE TIME YOU PAY FINE TIRE,YOU GOT SOJI AND FALL IN LINE WITH CASHLESS POLICY.
INFACT EMEFIELE AND HIS TEAM NA GENIUSES,
YOU CAN USE YOUR BANK'S MOBILE APP TO PAY FOR GARRI,EWA,OGORORO,BOLI,AGBADO,OKRO SOUP ETC.
EVERYTHING YOU NEED, OR YOU USE INTERNET BANKING,ALSO USSD CODES DEY THERE PER BANK.
JUST GO FOR BANKS WITH BEST APPS AND YOU WILL BE SMILING AT THIS POLICY
NOW IS THE TIME TO SECURE YOUR PHONES HANDSET AND YOUR SIMS PARTICULARLY FULL PROOF USING YOUR IMEI.
NA WICKED CONDUCTORS AND WICKED LAGOS DRIVERS WEY DEY HIKE FARES ANYHOW I PITY,because THEM GO CARRY CASH TIRE. I PRAY THIS CBN POLICY STOPS INFLATION AND STOP MALLAM WEY DEY HIDE MONEY FOR BDCS,because TO SPEEDUP THEIR TRANSACTIONS THEY MUST USE BANK CHANNELS TO DO TRANSFERS WHICH WILL TRACK ILLEGAL DEAL AND CURRENCY HOARDERS IFSHA.

thebosstrevor1:


The major business of POS is cash withdrawal before the new policy, now it will be cash withdrawal and sending of money.

There is limitations in cash withdrawal but no limitations when sending money from one account to another through atm, pos or internet banking. So that is where POS people can benefit from.

The logic is there will be more cashless transactions. So it benefits the POS guys also.

turawaa:



Everyone should keep calm...
The implementation is by January
Election is by February
New Government will change the Policy

Because its will affect Masses and Farmer inclusive

PARADIZEPRIEST:
STOP RANTING OVER PAPER MONEY,PAPER MONEY IS OUTDATED IN CIVILIZED WORLD.
CBN SAYS AS INDIVIDUAL N100K PER WEEK(OR 20K PER DAY TIMES 5DAYS),BUT IF YOU NEED ANY THING ABOVE 100K YOU PAY SERIOUS FINE
CBN SAY FOR COMPANY N500K PER WEEK(OR 100K PER DAY TIMES 5DAYS),BUT IF YOU NEED ANY THING ABOVE 500K YOU PAY SERIOUS FINE
BY THE TIME YOU PAY FINE TIRE,YOU GOT SOJI AND FALL IN LINE WITH CASHLESS POLICY.
INFACT EMEFIELE AND HIS TEAM NA GENIUSES,
YOU CAN USE YOUR BANK'S MOBILE APP TO PAY FOR GARRI,EWA,OGORORO,BOLI,AGBADO,OKRO SOUP ETC.
EVERYTHING YOU NEED, OR YOU USE INTERNET BANKING,ALSO USSD CODES DEY THERE PER BANK.
JUST GO FOR BANKS WITH BEST APPS AND YOU WILL BE SMILING AT THIS POLICY
NOW IS THE TIME TO SECURE YOUR PHONES HANDSET AND YOUR SIMS PARTICULARLY FULL PROOF USING YOUR IMEI.
NA WICKED CONDUCTORS AND WICKED LAGOS DRIVERS WEY DEY HIKE FARES ANYHOW I PITY,because THEM GO CARRY CASH TIRE. I PRAY THIS CBN POLICY STOPS INFLATION AND STOP MALLAM WEY DEY HIDE MONEY FOR BDCS,because TO SPEEDUP THEIR TRANSACTIONS THEY MUST USE BANK CHANNELS TO DO TRANSFERS WHICH WILL TRACK ILLEGAL DEAL AND CURRENCY HOARDERS IFSHA.

PARADIZEPRIEST:
IT IS VERY GOOD.JUST GO AND REGISTER YoUR POS BIZ AS A COMPANY,THEN YOU CAN DO N500K PER WEEK CASH WITHDRWALS think and grow,business na intelligence.

Dsalvo:


Stop calling people dumb when you are the dumb person yet can't see it. POS can get whatever waiver they want but they will still not be able to dispense more cash to customers who have reached their weekly or daily limit.

They will end up having excess cash customers cannot take off them because they have already withdrawn their upper limit. This policy does not favour POS operators.

Most people will even stop using POS altogether because a cash withdrawal limit of 100k weekly and 20k daily leaves them much better off using their ATM to withdraw 20k to pay 35 Naira charge than withdraw same amount with a POS operator to pay 400 Naira commission.

POS operators are the big losers with this policy. Take a minute to think about it and stop arguing blindly.

You forget that this policy is about making Nigeria more cashless and not empowering POS operator to be ad hoc replacements to banks as they operate currently.

CSTRR:

POS will fade away.

Once you have withdrawn 20k at a sitting, you can't withdraw again for that day.