PoS transactions soar to N15tn in two years

Point of Sales transactions reached a N15tn mark in two years, according to data culled from the Nigeria Inter-Bank Settlement System Plc website.

According to the data of transactions between September 2020 and 2021, the total PoS transactions stood at N6.54tn.  Also, transactions rose to N8.923tn from September 2021 to 2022.

The aggregate of both periods under review was N15.465tn.

The report also showed that the volume of POS activities recorded a volume of 979.8 million between September 2020 and 2021 and 1.16 trillion from September 2021 to 2022, resulting in a total of 2.14 trillion.

In retrospect, the number of POS registered centers stood at 2.164m in September of 2022, which was higher than the 1.104m recorded in 2021 within the same month.


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