Media Updates: Recent updates about NIBSS you may want to catch up with; News stories, Media mentions, Reports, views and chronicles of our activities
According to data from the Nigeria Inter-Bank Settlement System, Nigerians spent N272 trillion on electronic transactions in the first nine months of 2022 (from January to September).
Compared to the N216 trillion in transaction value that was registered over the same period in 2021, this represents a 42% increase.
This information was provided by NIBSS in the most recent data it had available, which Ripples Nigeria acquired on Friday. According to the report’s other payment channels, mobile (inter-scheme) channel transactions surged by 153% to N12.9 trillion from N5.1 trillion in the same period last year.
According to NIBSS data, the amount of point-of-sale transactions made through PoS channels climbed by 31% to N6.1 trillion in the nine months ending September 30, 2022, from N4.6 trillion in the same period of 2021.
The e-bills pay channel, which is specifically used for regular bill payments, increased by 37% to N2.2 trillion from N1.6 trillion at the same time in 2021.
Additionally, the poll revealed a drop in the acceptance of checks as payment.
In the nine months that ended in September 2022, cheque payments were N2.4 trillion, an increase of 4.3% over the N2.3 trillion reported the year prior.
First Publised on TechEconomy
Latest Media Posts
The latest industry news, interviews, technologies, and resources.
NIBSS Instant Payments (NIP) – The Game Changer
NIBSS Instant Payments (NIP) is an account-number based, online-real-time Inter-Bank payment solution developed in the year 2011 by NIBSS
NIBSS TECH-ED PROGRAM 2019
The last decade has witnessed tremendous changes in the world of ‘workforce’. Automation and self-operated machines are gradually becoming a trend and this is radically changing skill sets required by organizations globally.
E-bills payment rises by 86%, reaches N444.16bn
Analyses of the latest data from the Nigerian Interbank Settlement Scheme indicated that the use of digital financial transaction platforms for the payment of utility bills and other subscriptions in the first five months of the year hit N444.16bn.