More Nigerians are embracing electronic payments

Five years after Nigeria’s Central Bank (CBN) launched its Cash-less Nigeria project to reduce the amount of physical cash circulating in the economy, it is finally catching on.

Data from Nigeria Inter-Bank Settlement System (NIBSS) showed a significant uptick in the use of Point of Sale (PoS) terminals for payments last year. Total transaction volume from January to November 2016 increased 62% against all of 2015. The value of PoS transactions have doubled between 2014 and 2016.

CBN...

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