30 results
- 24 Nov 2025
Reps Decry Rising Fraudulent Activities Linked to POS
The House of Representatives has raised concern over a surge in fraud linked to Point-of-Sale (POS) operators nationwide. POS terminals are now a popular cash source for businesses and individuals…
- 8 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.…
- 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…
- 19 Mar 2012
Cashless Policy: Active PoS Terminals Hit 30,000
Chike Onwuegbuchi Cashless Policy: Active PoS Terminals Hit 30,000 Total active point of sale (PoS) terminals, electronic devices used for verifying and processing transactions at merchant locations…
- 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…
- 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…
- 6 Sept 2024
CAC Moves Against Unregistered POS Operators as Deadline Expires
The Corporate Affairs Commission (CAC) has begun moves to enforce its directive that Point of Sale (POS) operators should register with the commission. The registration directive gave POS operators…
- 7 Dec 2025
CAC to Shut Down Unregistered PoS Operators by January 2026
Corporate Affairs Commission (CAC) has announced that all unregistered Point-of-Sale (PoS) operators across Nigeria will be shut down effective Jan. 1, 2026. PoS In a statement issued on Saturday,…
- 21 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…
- 3 Feb 2019
AMMAN, Others Seek Review PoS Guideline for Agent Business
Electronic payment stakeholders have urged central bank of Nigeria (CBN) to urgently review its guideline on the use of point of sale (PoS) terminal in the country. The present CBN guideline…
- 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…
- 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…
- 20 Apr 2010
Stakeholders Move to Tackle Pos Challenges
e-Payment Providers Association of Nigeria (E-PPAN) has moved to tackle challenges confronting deployment and usage of Point of Sale (PoS) in Nigeria. Rising from the E-PAN Techno Interactive Forum…
- 19 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…
- 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…
- 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…
- 6 Nov 2019
FG to Rake in N1.5Bn Monthly from Stamp Duty on PoS
Federal Government is to realise at least N1.5 billion monthly from the implementation of N50 stamp duty charges on transactions carried out via Point of Sales (PoS)) terminals. This is based…
- 21 Feb 2016
Value of PoS Transactions down to N46Bn in January
Merchants across the country recorded transactions through point of sale (PoS) terminals worth N46 billion in some 3.6 million number of transactions in January this year. The figure achieved…
- 10 May 2014
POS Terminals to Be Deployed for GES Scheme
Point of sale (PoS) terminals are to be deployed as additional redemption channel by government under the Growth Enhancement Support (GES) scheme to enable farmers access fertilizers and other…
- 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…
- 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…
- 28 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…
- 1 Apr 2018
FinTech Stakeholders Urge Banks to Improve PoS Capacity
Stakeholders in financial technology have urged banks to enlighten their customers on the enormous capabilities of Point of Sale (PoS) terminal in the quest to make agent banking network viable.…
- 21 Aug 2016
PoS Transactions Record N4Bn Increase in Value for July
The value of transactions merchants across the country recorded through point of sale (PoS) terminals increased by N4 billion in July this year, according to report from Nigeria Inter –Bank…
- 19 Jul 2010
Nigerians Shun PoS for Transactions
Point of Sale (PoS) terminal, the electronic device used for verification and processing of credit card transactions is not popular yet in Nigeria despite the wide acceptance of Automated Teller…
- 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…
- 27 Aug 2021
Suspect Narrates how he Used Online Application to Defraud POS Operators
A 29-year-old commercial motorcyclist, Victor Ukachuckwu, has narrated how he used an online application he downloaded from the internet to defraud Point of Sales (POS) operators in Ondo State. Mr…
- 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…
- 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…
- 15 Dec 2020
Lawyer Drags CBN to Court over PoS Charges
Mr. Evans Ufeli, executive director, Cadrell Advocacy Centre, has sued the Central Bank of Nigeria (CBN), before a Federal High Court in Lagos over the legality POS charges imposed on customers.…