Point of Sale terminals generated N1.15 trillion in transactions in March 2023 as more Nigerians adopt electronic transactions.
This was stated in the most recent report released on Monday by the Nigeria Inter-Bank Settlement System, or NIBSS.
The research states that e-payments’ overall value increased to N48.33 trillion in March 2023 from N37.67 trillion in February.
The pain that Nigerians endured as a result of the naira shortage brought on by the Central Bank of Nigeria’s implementation of its cashless policy is the cause.
The use of mobile devices for transactions has increased in Nigeria by 106.93% month over month, according to NIBSS, which also noted that the value of transactions increased by 61.99% from N2.56 trillion in February to N4.14 trillion in March.
