30 results
- 21 Mar 2019
NIBSS Extends POS Transaction Timeout to 45 Seconds
Nigerian Interbank Settlement System (NIBSS) has extended Point of Sale (POS) transactions timeout from 15 second to 45 seconds. Niyi Ajao, NIBSS acting managing director, who disclosed this…
- 17 Apr 2014
NIBSS Offers Cash Back Reward to Increase Use of PoS
Nigeria Interbank Settlement System (NIBSS) is offering electronic cardholders in the country cash back of 50 kobo for every N100 spent in the use of e-payment cards to pay for goods and services on…
- 9 Dec 2017
Kaspersky Reports Upsurge in PoS, DDOS Attacks
Over 77% of companies globally have suffered from some kind of attack during the past 12 months, says Kaspersky. This is according to the Kaspersky Lab IT Security Economics Report, which notes that…
- 11 Dec 2017
Stakeholders Identify Fraud Risks Among PTADs, Merchants
Stakeholders in the Point of Sale terminal (PoS) payment ecosystem have decried absence of governance principle among some Payment Terminal Application Developers (PTADs) and merchants as responsible…
- 13 Sept 2017
Innovation Summit to Address Gaps in Payment System
A summit on Point of Sales (PoS) terminal transactions in the country has been scheduled to hold in Lagos on the 29th September 2017. The program which is an intervention to address the gaps…
- 14 Feb 2021
NetPlusDotCom Launches Android Based NetPOS Devices
NetPlusDotCom, a technology and digital payment company has launched NetPOS devices, an Android-based Point-Of-Sale (POS) systems, enabled to process multiple types payments securely on the go. The…
- 20 Aug 2024
Fintech, NIBSS Partner to Boost POS Transactions
Zone Payment Network Limited, formerly known as Appzone, has collaborated with the Nigeria Inter-Bank Settlement System to enhance POS transactions across the country. According to a statement on…
- 21 Jan 2013
Mobile Money Meets Roadblock after Hype
Poor merchant acceptability and other factors have conspired to hobble the uptake of mobile money, which involves the transfer of money from one mobile phone to another without any need for a bank…
- 26 Mar 2012
Payair Launches Next Generation Mobile Payment Service
Payair, the leading provider of mobile payments is now launching the next generation of mobile payment services, a solution which not only handles the payment process with both support for NFC and…
- 27 Nov 2025
EFCC Warns Of POS Vulnerability
Economic and Financial Crimes Commission (EFCC) has warned that Nigeria’s fintech and Point-of-Sale (POS) networks are structurally vulnerable, with weak verification systems and inadequate oversight…
- 12 Feb 2018
Global Accelerex Launches First Certified Android PoS Terminal
Global Accelerex, Central Bank of Nigeria licensed payment terminal service provider and payment service solution provider, has scored another first with the launch of NEXGO N5, the first single unit…
- 20 Mar 2018
Kaspersky says POS Malware Targets Chip and PIN Cards
Researchers from Kaspersky Lab researchers have discovered that the cyber criminal group behind the Prilex point-of-sale (POS) malware now have the ability to turn stolen credit card data into…
- 3 Jan 2013
NIBSS Processes 2m Transactions in November
Nigerian Interbank Settlement Systems (NIBSS) recorded over 2 million successful Point of Sale (PoS) transactions valued at N38.6 billion for the year ended November 2012. NIBSS was in November 15,…
- 5 Dec 2025
CBN’s New Cash Policy: A Welcome Liberalisation or a Risky Retreat?
By Blaise Udunze On December 2, 2025, the Central Bank of Nigeria (CBN) announced a policy that significantly departs from the cash-restriction measures Nigerians have faced lately. The apex bank…
- 29 Apr 2020
Visa Inks Partnership with Pesapal for Connected Payments in Africa
Visa, global leader in digital payments and Pesapal have announced a strategic partnership to drive connected digital payments to consumers and businesses in Africa. Pesapal will become a Visa…
- 21 Nov 2013
NIBSS Confirms Vodacom as POS Connectivity Service Provider
The Nigeria Inter-Bank Settlement System Plc (NIBBS) has confirmed Vodacom Business Africa (Nigeria) Limited as a new POS connectivity service provider in Nigeria. In addition, customers will…
- 4 Aug 2015
Intel Flags off Developer Zone @ IDDN 2015
Intel Corporation has flagged off the Intel Developer Zone (IDZ) program in Nigeria to local developers at its just concluded Intel Developer Day Nigeria (IDDN) 2015, which took place at Civic…
- 4 Sept 2020
Capricorn Digital to Boost Economic Empowerment Across Communities through Baxi 2.0 Campaign
Capricorn Digital Limited, owners of Baxi, has kicked-off a campaign to boost the economic empowerment in Nigerian communities. The campaign tagged: Baxi2.0 which targets at least 70 percent of…
- Financial9 Sept 2026
Moniepoint Moves to Foster Deeper Technical Exchange Among Fintechs with Off-the-Record Engineering Mixer
Moniepoint convened senior engineering practitioners from across Nigeria's fintech ecosystem for the inaugural Moniepoint ‘Off the Record Engineering Mixer’, held in Lagos as part of the company's ongoing effort to foster deeper technical exchange among engineering leaders in the industry.
- 22 Apr 2019
Financial Inclusion Agents Decry Challenges with PoS, Others
As the central bank of Nigeria (CBN), drives financial inclusion with giant strides and NIBBS upgrading her system to accommodate the projected 600m point of sale (PoS) terminal transactions this…
- 29 Oct 2019
Angst as CBN, NIBSS Slam N50 Charge on PoS Transactions
Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System (NIBSS) may have begun charging N50 for Point of Terminal (PoS) transactions with some angry Nigerians questioning the…
- 19 Nov 2014
CBN Grants 3GEE PAY PTSP License
Nigeria’s payment system has received a boost as the Central Bank of Nigeria, (CBN) has approved 3GEE Pay Limited as a new Payment Terminal Service Provider (PTSP). By the appointment, 3GEE PAY is to…
- 18 Feb 2016
SlimTrader Delights Employees with “Employee Share” Scheme
SlimTrader, Sub-Saharan Africa’s leading turn-key ecommerce solution provider for businesses, has announced the launch of an Employee Share Scheme which would benefit all its employees. The extension…
- 9 Oct 2017
Merchants Identify Roadblocks to PoS Business
Merchants making use of point of sale (PoS) terminals for transactions at their locations have reeled factors hindering the use of PoS device as a means of payment and urged actions to address them.…
- 28 Aug 2025
CBN Orders GPS Tracking for All PoS Terminals Nationwide
Central Bank of Nigeria (CBN) has issued a directive mandating that all Point of Sale (PoS) terminals across the country be fitted with GPS tracking systems within the next 60 days. The apex bank…
- 12 Sept 2024
CBN Directs Payment Service Providers to Tracking POS Transactions
Central Bank of Nigeria (CBN) has issued a new directive mandating that all Point-of-Sale (PoS) transactions at merchant and agent locations, whether physical or electronic, must be routed through a…
- 21 Jul 2025
Fidelity Bank to Empower 100 SMEs Across Nigeria with Digital Tools
As part of its unwavering commitment to digitally transform Nigeria’s small and medium-scale enterprises (SMEs), leading financial institution Fidelity Bank is set to empower entrepreneurs across the…
- 24 Sept 2018
Stakeholders Seek Mandate for Ejournal Implementation in PoS Terminals
Stakeholders in the electronic payment ecosystem have urged Central Bank of Nigeria (CBN) to mandate Payment Terminal Services Providers (PTSPs) to implement electronic journal at point of sale…
- 27 Aug 2014
UPS Falls Victim of PoS Malware
United Parcel Service (UPS), a shipping and courier giant, has confirmed a long-running data breach at 51 of its UPS Stores, across 24 states in the United States. While the number of affected stores…
- 23 Apr 2015
CWG, EDC Thinker on SMEs Development
Computer Warehouse Group Plc (CWG) has concluded plans to collaborate with the Enterprise Development Centre (EDC) of the Pan Atlantic University to afford Small and Medium scale Enterprises (SMEs)…