The data obtained from the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that Nigerians spent about N2.16 trillion on electronic bills such as power, PayTV, and other utilities in the first nine months of 2022
This is a 30.84 per cent increase from the N1.67 trillion that was recorded in the corresponding period of 2021.
According to NIBSS, E-BillsPay is an electronic bill payment platform that facilitates the payment of Bills, Fees, Levies, Premiums Subscriptions etc. by the banking public through electronic payment channels provided and managed by Banks
Also, industry experts have explained that mobile adoption is key to the growth of e-bills payments with individuals relying on the ease and speed of mobile devices.
The experts added that Point of Sale terminals have also been attributed to this growth, with 955,234 deployed POS in the nation
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