Nigerians Ignore PoS Transactions Over Charges - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
March 9, 2020
The Nigerian Inter bank Settlement System, NIBSS says the volume of electronic payment transactions through Point of Sale PoS terminals has fallen by 4.83 billion in one month. It dipped from 46.13 billion deals in December 2019 to 41.3 billion in January.
ThePoS transaction fall in cash value is 60 billion naira. Merchants- retailoutlets in the e-payment value chain-continue to collect 50 naira Stamp Dutycharge per transaction from PoS users. The transaction value fell from 373billion to 313 billion naira in December 2019 and January 2020,
Itwas gathered that collection of the illegal charge by merchant’s petrolstations, supermarkets and other business owners that deploy the machines forpayment has continued against the Central Bank of Nigeria’s CBN’s order thatpayment by customers should be stopped.
TheNIBSS data also showed that the decline in PoS usage occurred despite increasein the number of registered PoS terminals by the banks from 446,453 to 449,998in December 2019.
ThePresident of the Bank Customers Association of Nigeria, Uju Ogubunka, condemnedthe continuous collection, in spite of the CBN’s directive that it should stop.