The value of the daily transactions on the various electronic payment platforms has hit N100 billion, as the cashless policy of the Central Bank of Nigeria, CBN, gains ground.Also, the point-of-sales (PoS) platform now processes, at least, N1.5 billion worth of transactions daily.
The CBN Director, Banking and Payment System Department, Dipo Fatokun, revealed these on Wednesday, October 7, in Abuja at the CBN electronic payment incentives scheme cash reward presentation to the winners.
“About N100bn worth of transactions are done every day on the various e-payment platforms. Out of this, at least N1.5bn transaction is on the point-of-sales (PoS) platform for which this award is being given,” he said.
The incentive scheme is to reward users of electronic payment platforms in Nigeria and to further encourage greater patronage of government’s cashless policy by members of the public.
The scheme is also aimed at promoting financial inclusion.
Fatokun said that the use of POS terminals had increased from 5,000 in 2011 prior to the inauguration of the cashless policy, to about 120, 000 desktop terminals in 2015.
