Reports gathered from the Nigerian Interbank Settlement System (NIBSS), have revealed that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion from January to September, 2018.

The report which was obtained by the News Agency of Nigeria (NAN) on Sunday, showed an increase of N16.4 trillion compared to the N40.45 trillion that was recorded in the same period of 2017.

The report also disclosed that most of the electronic transactions were carried out through the NIBSS Instant Payment (NIP), Automated Transfer Machines (ATMs), Point of Sales, Mobile Money, Electronic Bills Payment (E-Bills) and Web payments.

A breakdown of the report showed that ATMs transactions grew from N4.61 trillion in 2017 to N4.76 trillion at the end of the third quarter of 2018. Also, the number of transactions via ATMs under the period in review grew from N560.86 million to N650.06 million in year 2017 and 2018 respectively.

The report revealed an increase of about N635 billion in the use of POS machines to carry out payments by Nigerians. Under the period of review, 98.73 million transactions worth N975 billion were done using POS in 2017, while in 2018, the number grew to 196.83 million, valued at N1.61 trillion.

Similarly, the volume of transactions carried out by Nigerians, via mobile money increased from N795.18 billion in 2017, to N1.22 trillion as at Sept, 2018. Also, using the web payment means, the total value of transactions under the period in review increased from N129.24 billion in 2017, to N183.07 billion in 2018.

Futhermore, the value of transactions on e-bill payments, which made it possible for customers to pay utility bills such as power, cable and so on online, declined from N420.73 billion in 2017 to N370 billion in 2018.

Meanwhile, a Business and Financial analyst, Dr Patricia Auta, stated that the NIBSS report showed an increase in awareness and use of technology by businesses and individuals across Nigeria.

Dr Auta urged the Central Bank of Nigeria (CBN), to increase efforts on cashless economy policies, especially in states, to grow the electronic payment space. She also advised commercial banks to stay competitive and drive growth by providing innovative alternate payment channels to their customers.

SOURCE: https://www.trendingaccounting.com/2019/01/nigerias-e-payment-transactions-hit.html

Hmmm

When you go to the bank,
USE YOUR OWN PEN!!!!!

Sharing pens only leads to more communicable infections like respiratory tract infections or even conjunctivitis (apollo) especially if you do not sanitize or wash your hands after.

USE YOUR OWN PEN

You see that ATM there?
How many times have you washed your hands after using it?
Thousands of people use that ATM and you pick your nose or rub your eyes immediately after.

Carry a sanitize around always
Take charge of your own health

N

E- money

Damnnn.. and they say there’s no money in this country

Bobrisky bestie

That's massive!

Big thanks to Obj and GEJ who made use of technocrats!

And they refused to add the debited un-refunded amount...

Why wont it hit such huge amount when nigerian girls keep asking/begging guys to transfer money to them all the time. Some will even list out all d bank code for transferring if u try to claim u dont know how to transfer.

Not bad

Unfortunately, no single improvement from the current administration.

post=74524735:
That's massive!

I hardly comment on this forum but bro, having observed the superficial nature of most of your comments on non-political topics, I really think there's an "ulterior" motive behind your presence on this forum at this time.

Only the discerning will understand.

Great! However, a country cannot develop without developing indigenous technologies. We can't rely on China to build our roads, Toyota to build our cars, LG to build our home appliances Gucci to make our wears and expect such d development to be sustainable.

Atleast usage of dirty nigerian currency would slightly reduce, with electronic transaction, if only kenya's mobile money system could be deployed, and bike men and market women can come on board

Hypocrate shouting no mony

post=74524735:
That's massive!

before your zombic chant, this has absolutely nothing to do with Buhari.

Alright!

Nice one!



I am a web designer and a developer. Check my signature if you need my service

“But two months in Abuja, Magnus came to meet me and said, ‘I agree with you; this country is hopeless and helpless. All they do in Abuja is to share money.

That's huge.

Wondering how much proxy E-payments would amount to

POS transactions almost doubled in 1 year,
No way to possibly determine amount of cash spent because in my mind’s eye cash is king.

shachris02:


before your zombic chant, this has absolutely nothing to do with Buhari.

But the economic and security situation has something to do with him .

Onyemadonald:
Reports gathered from the Nigerian Interbank Settlement System (NIBSS), have revealed that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion from January to September, 2018.

The report which was obtained by the News Agency of Nigeria (NAN) on Sunday, showed an increase of N16.4 trillion compared to the N40.45 trillion that was recorded in the same period of 2017.

The report also disclosed that most of the electronic transactions were carried out through the NIBSS Instant Payment (NIP), Automated Transfer Machines (ATMs), Point of Sales, Mobile Money, Electronic Bills Payment (E-Bills) and Web payments.

A breakdown of the report showed that ATMs transactions grew from N4.61 trillion in 2017 to N4.76 trillion at the end of the third quarter of 2018. Also, the number of transactions via ATMs under the period in review grew from N560.86 million to N650.06 million in year 2017 and 2018 respectively.

The report revealed an increase of about N635 billion in the use of POS machines to carry out payments by Nigerians. Under the period of review, 98.73 million transactions worth N975 billion were done using POS in 2017, while in 2018, the number grew to 196.83 million, valued at N1.61 trillion.

Similarly, the volume of transactions carried out by Nigerians, via mobile money increased from N795.18 billion in 2017, to N1.22 trillion as at Sept, 2018. Also, using the web payment means, the total value of transactions under the period in review increased from N129.24 billion in 2017, to N183.07 billion in 2018.

Futhermore, the value of transactions on e-bill payments, which made it possible for customers to pay utility bills such as power, cable and so on online, declined from N420.73 billion in 2017 to N370 billion in 2018.

Meanwhile, a Business and Financial analyst, Dr Patricia Auta, stated that the NIBSS report showed an increase in awareness and use of technology by businesses and individuals across Nigeria.

Dr Auta urged the Central Bank of Nigeria (CBN), to increase efforts on cashless economy policies, especially in states, to grow the electronic payment space. She also advised commercial banks to stay competitive and drive growth by providing innovative alternate payment channels to their customers.

SOURCE: https://www.trendingaccounting.com/2019/01/nigerias-e-payment-transactions-hit.html

Emoney?

Wow see food for cyber criminals.

I think he's just striving hard to be controversial/popular. Maybe to promote his business.

Emmerlee:


I hardly comment on this forum but bro, having observed the superficial nature of most of your comments on non-political topics, I really think there's an "ulterior" motive behind your presence on this forum at this time.

Only the discerning will understand.

Hmmmmm... That ATM Card number starting with 4149... Okay.

Emmerlee:


I hardly comment on this forum but bro, having observed the superficial nature of most of your comments on non-political topics, I really think there's an "ulterior" motive behind your presence on this forum at this time.

Only the discerning will understand.

Na buhari cow be that bro.