E-bills Transactions Declined By 9% In February
The volume of transactions carried out on the electronic bill payment platform fell month-on-month, by 8.86 per cent to 92,571 in February 2021, from 101,578 in January 2021.
According to data obtained from Nigeria Interbank Settlement System, there was however an 8.57 per cent increase in the e-bills payment value to N168.86bn in February from N155.53bn in January 2021.
On a year-to-date analysis of the data, the e-bills payment volume was an 8.78 increase from 85,092 recorded in February 2020, while e-bills payment value rose by 106.53per cent from N78.37bn in January 2020.
The total value of Nigeria Interbank Settlement System Instant Payment transactions grossed N18.32tn in February, a 0.97 per cent decrease from N18.50tn recorded in January 2021.
Customers carried out a total volume of 230.25 million financial transactions on the instant payment platform in February, a 0.65 per cent decrease from 228.76 million transactions recorded in January.
Compared to February 2020, however, the value of NIP transactions rose to 83.75 per cent in February 2021, as against N9.97bn recorded in the previous year; while the volume of NIP transactions saw a 91.46 per cent increase from 120.26 million recorded February 2020.
Point of Sales deals were worth N468.90bn in February 2021, a 4.15 per cent decline from N489.23bn recorded in January 2021.
The volume of transactions carried out using PoS machines saw a 1.04 per cent month-on-month increase from 70.88 million in January, to 71.62 million transactions registered in February 2021.
The value of PoS transactions had a 43.82 per cent year-on-year increase from N326.03bn deals in February 2020. Likewise, PoS transaction volume saw a 55.45 per cent increase from 46.07 million transactions in the previous year.
Additionally, the total number of PoS deployed in the country increased to 484,582 in February from 475,494 recorded in January.
According to the NIBSS Report, Nigerians performed 15.34 million mobile transactions in February 2021, an increase of 2.88 per cent from 14.91 million transactions registered in January 2021 and an increase of 87.07 per cent from 8.20 million transactions in February 2020.
The value of mobile inter-scheme transactions also saw an increase of 4.42 per cent as it grew to N407.81bn in January from N390.54bn recorded in January.
Mobile transaction value increased by 174.97 per cent from N148.31bn reported in February 2020.
