Online Transactions Hit 2.8m On Oct 1st   Bank customers carried out about 2.8 million transactions on Nigeria Interbank Settlement System Instant Pay platform recorded on Independence Day commemoration, live updates provided by the NIBSS have shown. As Nigerians visited entertainment spots in the country to celebrate...

PoS Terminals Rise By 36% In 1 Year The number of active Point of Sale terminals used by merchants for financial transactions rose by 36 per cent between June 2018 and June 2019, the latest report by the Nigerian Inter-Bank Settlement Scheme indicated. The report stated...

Nigeria’s Instant E-payment Hits 1.34m   Bank customers carried out over one million transactions on Nigeria Interbank Settlement System Instant Pay platform recorded on Sunday, live updates provided by the NIBSS has shown. NIP, which is an online real-time product that facilitates instant digital payment of bills...

NIBSS, Others Move To Tackle E-Payment Failures   Following the deluge of dispense errors and non-reversal of failed transactions at point of sale (PoS) terminals and some other electronic banking channels, the Nigeria Interbank Settlement System Plc (NIBSS), the Central Bank of Nigeria and commercial banks...

Transactions via Mobile Devices Rises By 56% In 9Months The efforts to leverage mobile phones to create a cashless economy and drive financial inclusion are yielding results as financial transactions on mobile devices continue to soar. the value of transactions via mobile devices rose by 56%...

Mobile Instant Pay Users Hit 11m There are indications that the country’s electronic payments ecosystem is today driven by mobile means of communications as the number of Instant Pay users in the system is put at 11million with mobile and USSD accounting for 77 percent...