30 results
- 14 Aug 2013
Unified Payments Addresses Issues at PoS with Solution
Unified Payments, an electronic payment service provider is to launch a solution that will address the challenges of poor telecommunications infrastructure at Point of Sale (PoS) terminals, Nigeria…
- 27 Apr 2024
CBN Licenses Unified Payments as Second Provider for PTSA Services for Nigeria
Central Bank of Nigeria (CBN) has awarded the country’s second Payment Terminal Service Aggregator (PTSA) license to Unified Payments, Nigeria’s premier financial technology company, following a…
- 25 Jun 2024
Unified Payment Unveils PTSA Platform to Boost e-payment
Unified Payment Services Limited has said that its Payment Terminal Service Aggregator, PTSA, platform has commenced operations and will collaborate with stakeholders to facilitate growth of…
- 9 Sept 2013
More Nigerians Embrace PoS as Transactions Rise
The popularity of point of sale (PoS) terminal has continued to soar as more Nigerians have started using the computerized replacement for a cash register to pay for goods and services, Nigeria…
- 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…
- 13 Sept 2024
CBN Orders PoS Operators to Route all Transactions through NIBSS or UPSL
Central Bank of Nigeria (CBN) has announced new regulations for processing Point of Sale (PoS) transactions across the country, directing that all POS transaction are to be routed wither through the…
- 23 Jun 2013
PoS Operators Dump GSM for CDMA
Point of Sale (PoS) terminals operators may have resolved to switch over to Code Division Multiple Access (CDMA) to address the perennial connectivity challenges associated with the use of Global…
- 12 Sept 2024
CBN Tightens Grip on Electronic Transactions with New Rules for PoS
The Central Bank of Nigeria (CBN) has announced new regulations for processing Point of Sale (PoS) transactions across the country, directing all acquirers to route their transactions through any…
- 29 Nov 2013
Merchants Record N127B on PoS in 11 Months
Popularity of Point of Sale terminals (PoS) is growing as merchants who use PoS for payment of goods and services have recorded a princely N127billion in 11 months, Nigeria CommunicationsWeek can now…
- 19 May 2014
Banks, Merchants Invest $80m on PoS Terminals
Money deposit banks and merchants in the country have invested some $80 million in the acquisition of Point of Sale (PoS) terminals in their effort to facilitate electronic payment, Nigeria…
- 26 Aug 2025
CBN Sets October 31 Deadline for Payment Companies to Comply with ISO 20022
The Central Bank of Nigeria (CBN) has issued a fresh directive mandating all participants in the country’s payment ecosystem to complete migration to the ISO 20022 messaging standard and implement…
- 4 Oct 2015
Industry Mulls Cashback on PoS to Drive Cashless Scheme
Central Bank of Nigeria (CBN) Banks and Payments Terminal Service Providers (PTSPs) are working on the introduction of cashback from point of sale (PoS) terminal, in an effort to further drive…
- 11 Jun 2013
Connectivity Problem Tops Challenges of PoS Usuage
Telecommunications network connectivity difficulties account for 58.5% of challenges merchants face in Point of Sale (PoS) transactions according to a field market research sponsored by Nigeria…
- 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…
- 12 May 2013
Merchants Record N9Bn PoS Transactions in April
Merchants in Nigeria that deployed point of sale terminals (PoS) and using them as means of payment of goods and services recorded transactions value of N9 billion on their terminals in the month of…
- 26 Jun 2012
Cash-lite Operators Plan 200,000 PoS by Year End
Point of Sale terminal (PoS) operators in the Central Bank of Nigeria (CBN) cashless policy plan to deploy 200,000 terminals by the end of the year, Nigeria CommunicationsWeek can now report.…
- 30 Mar 2021
Accelerex Offers Ghanaian Customers more Digital Payment Options
Accelerex Ghana has hit a new milestone, after being granted an enhanced Payment Service Provider (PSP) licence from the Bank of Ghana (BoG), under the Payment Systems and Services Act, 2019 (Act…
- 8 Oct 2012
PoS Value Transactions Hit N1Bn
Value of transactions on Point of Sale (PoS) terminals recorded an all time high of N1 billion after over 60,000 deals were struck on the machines in the last week of September this year, indicating…
- 30 Mar 2014
PoS Transactions Hit 3.6m in 3 Months
Point of Sales (POS) Terminals, the machine used to accept cards for payment of goods and services are increasingly becoming popular as merchants in the country recorded 3.6million transactions over…
- 30 Oct 2016
Deployment, Awareness Frustrate CBN Cash Back on POS
Slow deployment and lack of awareness have conspired to hobble the cash back on Point of Sale terminals (PoS) initiative by the Central Bank of Nigeria (CBN) in collaboration with banks, aimed at…
- 4 Feb 2013
PoS Transactions Hit 141, 000 Weekly
Volume of transaction on Point of Sale (PoS) terminals hit an all time high of 141, 000 between January 7 and 14 this year, indicating that the Central Bank of Nigeria policy on PoS transaction is…
- 21 Jul 2014
PoS Transactions Hit N24Bn in June
Payment of goods and services across the country at merchants’ location through Point of Sale (PoS) terminals in June recorded some 16% rise in value hitting N24.8billion, Nigeria CommunicationsWeek…
- 5 Nov 2012
CBN Yet to Achieve Interoperability in POS Transactions
More than a year after Central Bank of Nigeria (CBN) issued a guideline on Point of Sale (PoS) card acceptance services; the sector is yet to achieve interoperability, no thanks to the challenges of…
- 20 Nov 2017
ePayment Stakeholders’ Seek Review of Policy on PoS to Boost Growth
Worried by slow pace of growth in the use of Point of Sale terminal (PoS) as a means of payment in the country, stakeholders have called on Central Bank of Nigeria (CBN)to review its policy direction…
- 20 Feb 2017
PoS Transactions Drop in January by N16Bn
The value of transactions carried out over Point of Sale (PoS) terminals in the country dropped by N16 billion in January this year compared to the figure achieved in December 2016, as Nigerians…
- 16 Oct 2016
Economy Fingered as POS Transactions Edge up in September
The state of the country’s economy has been attributed as being responsible for the low level of use of Point of Sale (PoS) terminal as a means of payment in the month of September this year, Nigeria…
- 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…
- 17 Dec 2024
CBN Pegs Daily Transaction Limit on PoS Agents @ N1.2m
The Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. The apex bank revealed this in its ‘Circular on Cash-Out Limits for Agent…
- 21 Jun 2015
PoS Transactions Hit N35Bn in May
Transactions over Point of Sale terminal (PoS) across the country recorded 49 percent rise over the past year, suggesting a growing acceptance of the use of online payments, Nigeria…
- 21 Aug 2017
Settlement Delays, Issuers Inoperative Hobble PoS Penetration
Stakeholders in the electronic payment ecosystem have identified delay in settlements by some banks as well as issuers inoperative among factors militating against increase in Point of Sale terminals…