The Nigeria Inter-Bank Settlement System (NIBSS) has disclosed that the number of Point of Sales (PoS) machines deployed by merchants and individuals across Nigeria rose to 2.7 million in March.
The figure indicates that a total of 864,753 new PoS terminals have been deployed in the last year.
In its recently released electronic payment data, the NIBSS said the increase represents a 50 per cent increase year on year when compared with the number of deployed terminals in the same period last year, which was 1.8 million.
The figure for deployed PoS is, however, still lower than the total registered terminals.
The NIBSS said a total of 3.730 million PoS machines had been registered across the country as of March 2024, which shows that a total of 1.04 million terminals are either yet to be deployed or have become inactive.
The data also showed that there was a decline when compared with last year’s figure.
According to NIBSS data, PoS transactions value for March stood at N961.8 billion. This shows a 16.5 per cent decline compared with the N1.15 trillion recorded in March 2023.
