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The data obtained from the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that the value of transactions over Point of Sales (POS) terminals in Nigeria jumped to N735.6 billion in September 2022.
This came as the highest monthly record of transactions on the platform as more Nigerians go cashless.
According to the data, in the first nine months of 2022, Nigerians have spent a total of N6.05 trillion over PoS. With 3 months to go, this is almost the same amount recorded in the full year 2021, which stood at N6.4 trillion.
This reflects a shows a 32% increase when compared with the N5556.4 billion recorded in the same month last year.
Similarly, the volume of transactions on PoS grew by 14% during the period under review to N100.4 million.
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