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Data released by the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that the total number of Point of Sales (PoS) machines deployed by merchants and individuals across Nigeria increased to 1.6 million in November 2022.
According to the NIBSS report, a total of 703, 208 PoS terminals were deployed in the past eleven months (between January and November 2022).
As of December 2021, the total number of deployed PoS in the country stood at 915,519.
However, the value of transactions over PoS terminals in Nigeria jumped to N759.2 billion in November 2022, which represents a 35% increase when compared with the N560.2 billion recorded in the same month last year.
The NIBSS data also shows that Nigerians have in the last 11 months of this year spent a total of N7.56 trillion over PoS.
With December value yet to be added, this has surpassed the amount recorded in the full year 2021, which stood at N6.4 trillion.
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