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Tuesday 27 July 2021
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Points of Sale usage still low in Nigeria – survey

The rate of adoption and usage of the Point of Sales (PoS) terminals among Nigerians is still very low, despite the introduction of cashless economy about seven months ago, a survey has shown.

The outcome of the survey, by a private accounting firm, KPMG, was reported Monday by the private Guardian newspaper.

It reveals that the Automated Teller Machine (ATM) remains the preferred channel, with 82 per cent acceptance from respondents.

However, seven per cent of respondents preferred Internet banking, while only about five per cent of respondents understood the operations of mobile money.

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