E-payment Transactions Surge By 85.51% In One Year

According to data received from the Nigeria Inter-Bank Settlement System, electronic payment transactions in Nigeria surged by 85.52 percent year on year to N171.99 trillion in August 2021. E-payments totaled N92.71 trillion from January to August 2020. In the same period in 2021, it climbed to N171.99tn, an increase of 85.52 percent year on year. The Nigeria Instant Payment System and Point of Sale terminals are used to track e-payment transactions on the NIBSS. NIP transactions increased by 86.79 percent year on year, from N89.90 billion in 2020 to N167.93 billion in 2021. PoS transactions increased 44.85% year on year, […]