Media Updates

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.

COVID-19 has changed the digital landscape and has heralded an era of innovation and products that will be digital focused as well as achieve the contactless target even post-pandemic

MD of NIBSS, Premier Oiwoh, in this interview speaks about the New Quick Response (NQR) payment solution code, an innovative payment platform launched for all financial service providers in the country

NIBSS) has launched the New Quick Response (NQR) payment solution code, an innovative payment platform implemented on behalf of all financial service providers.

The total value of transactions in the country through electronic payment (e-Payment) channels, which included Point of Sale (PoS), the Automated Clearing House (ACH) and the Nigeria Interbank Settlement System Instant Payment (NIP) rose by 5.49 per cent to N17.3 trillion in September 2020, compared with the N16.4 trillion recorded in August

Enrolments for the Biometric Verification Number (BVN) by bank account owners in the country rose by one million in the last two months, New Telegraph has learnt

After a massive drop during the COVID-19-induced lockdown, the volume and value of online transactions in Nigeria hit new heights in Q3 2020, pointing to improved economic activities following the relaxation of the lockdown

POS machines deployment have increased in recent months with many cardholders, especially at the grassroots, previously cautious about digital banking and safety of their funds have embraced the scheme as COVID-19 pandemic reduced cash demand and usage but there are challenges