maasoap:


The guy who first made the claim wasn't talking POS.

He did albeit indirectly.

Again, the post is also focused on POS transactions.

Enemyofpeace:
I think at this point in time, we are good to go cashless

Yes indeed praise worthy but the photoshoped images aren't excellent.

IfnobeGod20:

Please there is no alternative to this cashless policy. You don't need a complex education to use technology to send, transfer or receive money. Thankfully, even 3,000 naira phone is good to go to do transactions of any kind.
No country carry cash arou1nd like Nigeria. You will even be surprised that Nigerians stockpiled millions at home for no reason. Money that suppose to be in circulation to help grow the economy, few pile them inside their rooms.
Rarely can you see huge dollars in the hands of average Americans. They are always with their credit cards.
In my station I have started encouraging people to go and open account in banks and I have started teaching them how to use phone to send money through my own phone and those with phones.
We need not deceive ourselves, there is no alternative to this cashless policy.

No society is without adequate cash, from USA to Canada to China to Saudi. Let's people identify with what is convenient for them.
There are educated people and non educated people.
There urban people and there are rural people.
There are civil servants and there are farmers.
A caring system will consider the ability of each segment of the society to formulate all inclusive policy, not the one that lump everything together.
Illiteracy is high, there is no shortcut to that

AllDModsAreMaad:

You're du mb o, that means it is not approved.
Meaning network affected it from reaching the receiver's end.

Again, the argument is centered on POS transactions where the term "Approved" is used for confirmed transactions, and not bank transfers etc.

I could see, you're of those who argue blindly. Transaction done, debit alert received with new lower balance. You said it wasn't approved and network error. Are you even making sense to yourself

jamesbridget13:
it has happened to me via GTB ussd portal. I completed money for my drugs during one of my antenatal visits via ussd code. It was successful n I was debited. I got my drugs n went home only for me to receive a reversal at home n I thought it was an error but my balance increased as well. I returned d money in physical cash on my next appointment which was after a month n the hospital wasn't even aware of the erroneous transaction. True life experience

Someone said POS transactions, but as a Nigerian that always find fault in everything, you mentioned ussd transaction.

What is the correlation bikonu?

Na wa o.

If they did it right you won't even need a POS machine. Just QR code on smart phones

maasoap:


You are like a robot. Debit alert received, then credit alert received minutes later. Which is part you didn't understand?

That can never be an approved transaction. That should be a network induced transaction. I experience it too mostly on bank ATM but not on phone, POS or laptop. Nobody doesn't know when a transaction is induced by network, except you're not sensitive enough. For me I don't even bother myself because I know it would be reversed. Same way if I electronically bought units from my account and ib debited due to bad network . I just keep cool because I know if the bank is doing reconciliation, my money will be refunded, which my bank have done severally.

maasoap:


I could see, you're of those who argue blindly. Transaction done, debit alert received with new lower balance. You said it wasn't approved and network error. Are you even making sense to yourself

Keep quiet please, in your case, you initiated the transaction from your account, the debiting of a thing is still on your account and still withing your bank's network(system), the receiving account(receiver) has not received it.

Do you ask yourself why the money was reversed?

In the case of POS, the receiver(terminal) approved it by showing "APPROVED" and the receiver's account gets credited. Some check their account balance immediately and they see the credit.
The question is does this kind of transaction in bold reversible and not what you typed in your comment...

faceland:
Those are 50 and 100 naira service. Then the bank would cut 25 naira for a 100 service. End of month, they would also cut 4 naira for the SMS alert they sent you. You end up paying 139 and then merchandise end up receiving 98 naira.

It doesn't even make sense to do tiny transactions digitally.

Very wise statement. Nigerians need to take their country back from these folks who rip them daily. No sane country in the world works like this.

maasoap:


No society is without adequate cash, from USA to Canada to China to Saudi. Let's people identify with is convenient for them.
There are educated people and non educated people.
There urban people and there are rural people.
There are civil servants and there are farmers.
A caring system will consider the ability of each segment of the society to formulate an inclusive policy, not the one that lump everything together.
Illiteracy is high, there is no shortcut to that

Have you gone to any of these countries you mentioned? Only in Nigeria you see a businessman going to market to buy goods and he carries a stockpile Ghana must go naira notes. For what? To buy goods. That's nonsense in a civilized society. We are not talking of buying goods of 1,000/3,000/5,000. Goods with the price more than 5,000 should be electronically done than carrying bale of money about.
If I may ask, do you need to even have basic education for you to learn how to send and receive money electronically? I am speaking with experience. I am in a community with education disadvantage people but many of them have learnt it with a space of these two weeks.
All we need is just enlightenment and no big deal about it.

These are the Hausas that do not have former education. Come to South and you will see well educated men and women telling you they can't accept transfer. No wonder we're always behind them in everything

Bank app generate qr code? Which bank app does that?

ITbomb:
But on a normal day, you don't need a POS machine, all you need is your bank app which will generate the QR code

Gradually going extinct or cashless? You forgot that we have village communities and settlements without GSM services or connection?

figment232:
It doesn't happen...no mind the guy ..na Tinubu supporter

It has happened to me on a transfer via bank app before. I sent money to somebody, my bank debited my account number, after waiting for hours for the person to see alert then they reversed the money back to my account. I had to retry the transaction later.

slivertongue:
Proudly happening in the North

Why point out North? This is actually our problem. We are one, why say it is happening in the North. It is happening in Nigeria. Stop tribalism.

If you believe this thread then you are a certified mumu.

smokinloud:

Yes it does.
E be like you no know the kind country wey you dey.
Let your last card hang for Zenith bank and you are on the verge of obtaining jamb form for your sibling on a deadline day na den you go know say Generational curses dey for Nigeria true true

Shey e dan happen to you before or you dan see person wey e happen to?

Helpfromabove1:
This post is certainly a sponsor or photoshop pictures

How much is the sugar Cain or the aboki doing pedicures going to charge that he will need pos for payment and will still pay diff charges

100 less stamp dues of 10 Naira , sms charge, pos com e.t.c

don't mind all thos social media kids

In a way cashless policy is sweet. I bought some footwears and surprisedly the woman was willing to accept transfer so, I simply sent to her fidelity and she confirmed it .shekina, both of us left like we finished sex

You buy goods worth 1600 and you are asked to pay 1800 by the vendor,now tell me.how that is making any sense,all we like to do is to copy things that we don't understand all because we want to look COOL.

Lol. Cashless society pending worldwide.

smokinloud:

Yes it does.
E be like you no know the kind country wey you dey.
Let your last card hang for Zenith bank and you are on the verge of obtaining jamb form for your sibling on a deadline day na den you go know say Generational curses dey for Nigeria true true

Zenith Bank is a terrible disappointment. They've been having this ICT problem long before the new naira note saga and they have never thought of fixing it. By Thursday of last week, I experienced some difficulty transferring with GTB app, but by the next day GTB app transfer worked like charm.

ITbomb:
But on a normal day, you don't need a POS machine, all you need is your bank app which will generate the QR code

how does this QR really work because I use to see it on my access and palmpay app but use to be scared of it

Which useless cashless is that?
I transferred 12k to someone [Zenith Bank] on the 4th of this month as at yesterday, the recipient is yet to receive the money.

Or where ATM terminal or POS Terminal will debit you and it will take months for the money to be reversed.

Let's stop deceiving ourselves jọ

Bros it has happened to me twice, mine is sterling bank, after making transfer for material 10k, it show successful as i reach house my money was intact, i ve to go back to the person d next day, d person was not even aware

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

The network is poor.
That was how my #5000 hang.
Dey don remove am for my account o

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

Yes it does. I transferred money to my wife's account which was successful but she didn't get any credit alert but I got a debit alert. Two days later, the money was reversed to my account.
Whxt if it was a business transaction with a stranger

Elliotwaveforec:
POS machine is for sellers not for dispensing cash. If you don't have what you're selling, you don't need a POS! They've turned POS machines to a bank in naija.

Nothing should be charged for using POS to receive payment from customers.

I render a service, I charge you, I input the amount charged, you insert your card, input your PIN, I get paid without cash. I'm not supposed to charge you N100 again for paying me with your card nah.

So the charges that comes with using the POS machine should fall on the seller ??
After you must have priced his profit to below minimum, you want him to still pay for your convenience ??
We really need a lot of orientation on how things work in this country.

What kind of rubbish cashless are you talking about. I did transfer yesterday to pay for something I bought and it took over 2 hours before the seller received the money, meanwhile I was debited immediately. Useless country with useless policies

When the govt are ready they had drip down the transaction charge so as to encourage cashless. Something that was supposed to be considered in this trying time.

I don’t really think going cashless on 100% is feasible in this country, considering the large percentage of uneducated ones we have. How many of these people have access to smartphones ? How many can operate PoS successfully? How many even understand how to use bank apps ? The technical difficulties is a major challenge for these set of people

Tookool:

I have never had such experience oh, After withdrawing from the pos or after I have recieved a debit alert for a transfer transaction, then my money is reversed back to me. Does it truly happen ?

I have had experience. I transferred 15k to a POS vendor , I was debited, the POS merchant saw it and I was given cash. Only for me to get home and saw the money was reversed.