Nigeria’s acceptance for digital means of payment has improved in recent time, however, the Christmas festivity contributed significantly to the surge in the review year.

Point of sale (PoS) transactions increased usage as the value of transactions on the platform for 2021 rose to N6.43 trillion, a 36 per cent improvement compared to N4.72 trillion recorded in 2020.

Indeed, a sound payment system infrastructure, where operators and customers can transact business with confidence and convenience, trust and timeliness, underpins many of these reforms.