ATM usage drops as POS agents handle N223tn — Akelicious

Contrasting approaches to ATM networks: SA vs Nigeria

South Africa’s leading banks, including Standard Bank, Absa, Nedbank, and First National Bank (FNB), are rapidly dismantling their ATM networks and have closed about 8,345 ATMs in the last five years, according to a MyBroadband report. This aggressive reduction reflects a broader pivot toward digital payments, driven by declining cash usage and high maintenance costs. However, the move raises concerns about financial inclusion for cash-dependent…

POS Dominates Retail Payments with ₦223tn in 2024, CBN Sanctions Banks Over ATM Failures

The total value of Point of Sale (POS) transactions in Nigeria surged to ₦223.27 trillion in 2024, more than doubling the ₦110.35 trillion recorded in 2023, according to the Central Bank of Nigeria (CBN) quarterly statistical bulletin.

ATM Usage Drops As POS Agents Handle N223tn - Thepodiummedia

Point of Sale terminals handled transactions worth N223.27tn in 2024, representing a significant increase from the N110.35tn recorded in 2023. This is according to data from the Central Bank of Nigeria’s quarterly statistical bulletin, which shows a continued migration from Automated Teller Machines to Point of Sale platforms for financial transactions across the country. The total number of POS transactions rose from 9.85 billion in 2023 to 13.…

ATM usage drops as POS agents handle N223tn — Akelicious

Point of Sale terminals handled transactions worth N223.27tn in 2024, representing a significant increase from the N110.35tn recorded in 2023. This is according to data from the Central Bank of Nigeria’s quarterly statistical bulletin, which shows a continued migration from Automated Teller Machines to Point of Sale platforms for financial transactions across the country. The total number of POS transactions rose from 9.85 billion in 2023 to 13.…