The value of transactions domed through Point of Sale (PoS) in Nigeria has recorded a 39 percent increase, jumping to N8.03 trillion in 2022, a new report has said.
This revelation was made in a new report by the Nigeria Interbank Settlement System (NIBSS).
The official data revealed that the aggregate PoS transactions between July 2020 and July 2021 were estimated at N5.77 trillion.
However, the volume of transactions increased to N8.03 trillion, indicating a 39.16 percent increase between July 2021 and July 2022.
PoS transactions increased from a total volume of 921.19 million between July 2020 and July 2021, to 1.20 billion from July 2021 to July 2022.
In July 2022 alone, the NIBSS recorded the highest number of PoS transactions registered at 2.067 million in just one month.
