Stats: 3,186,741 members, 7,930,535 topics. Date: Saturday, 24 August 2024 at 08:59 PM |
Nairaland Forum / Nairaland / General / Business / Explained Of Limit Set By CBN On Contactless Payment (211 Views)
CBN Sets N50,000 As Daily Limit On Contactless Payments / List Of 47 Microfinance Banks Licences Revoked By CBN / 17 Companies Licensed By CBN As Mobile Money Operators In Nigeria (Full List) (2) (3) (4)
Explained Of Limit Set By CBN On Contactless Payment by bmasz(m): 7:39am On Jun 29, 2023 |
https://leadership.ng/cbn-limits-contactless-payment-to-n50000-daily/ The Central Bank of Nigeria (CBN) has limited contactless payments in Nigeria to a daily cumulative limit of N50,000 and a single transaction limit of N15,000. This means that you can only make a total of N50,000 worth of contactless payments in a day, and no single contactless payment can be worth more than N15,000. Contactless payments are those that are made by tapping your card or phone against a contactless reader. They are becoming increasingly popular because they are quick and convenient. However, the CBN is concerned about the security of contactless payments, and this limit is an attempt to mitigate those risks. The CBN has said that higher value contactless payments that exceed the limits will require "appropriate verification authorisation." This could mean entering your PIN, using a token, or providing biometric verification. The CBN has also said that banks will be able to set their own limits for contactless payments. This means that some banks may have lower limits than the CBN's recommended limits. The new limits for contactless payments came into effect on June 27, 2023. |
Re: Explained Of Limit Set By CBN On Contactless Payment by SocialJustice: 12:05pm On Jul 24, 2023 |
bmasz:Hello, what's up? |
Re: Explained Of Limit Set By CBN On Contactless Payment by bmasz(m): 8:47am On Jul 25, 2023 |
SocialJustice: I'm cool. I tried contacting you in lieu to a post you made in 2021 on a this thread "Let's Talk About Joining Confraternity Before Getting A Job" I don't feel comfortable continuing this discussion here. Lemme drop my phone number so that we may continue the discussion on whatsapp if you don't mind? |
Re: Explained Of Limit Set By CBN On Contactless Payment by SocialJustice: 8:58am On Jul 25, 2023 |
bmasz:Oh ok, I don't share my WhatsApp. Your email is faulty. Get a new email and share it. We can discuss. |
(1) (Reply)
Send Your Account Details / Abuja Paper Dealer Showcases Warehouse / Own A Website At Affordable Price
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 15 |