More Money for PoS Operators As Nigerians Transact Over N14trn in 10 Months [Video]

• Nigerians transacted over N14 trillion via PoS systems in the first 10 months of 2024, marking a significant rise in digital payments
• The surge in PoS usage is attributed to ongoing cash scarcity, with consumers increasingly turning to cashless solutions for transactions
• PoS operators are benefiting from the growing demand for easy and quick access to cash offered

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Point-of-sale (PoS) transaction volumes reached a new milestone, surpassing N14.86 trillion in the first 10 months of 2024.

This amount represents a 38.27% increase compared to the N10.74 trillion reported during the same period in 2023.

The 2024 figure also reflects a 77.11% increase from the N8.39 trillion recorded in 2022.

According to data from the NigeriaInterbank Settlement System …