Tech Gist

Nigeria Ranked 7th On PoS Transactions in Africa, S/Africa, Ghana lead.

I wasn’t expecting 7th, probably 4th, but that is exactly what the report disclosed by IndexMundi revealed.
According to the report, after over three years of the introduction of POS in Nigeria and less than three years in Ghana, only 21 percent of total transactions in the country are done through the PoS device, while South Africa stands at the top with 91 percent followed by Ghana 80 percent and Tunisia at 79 percent.

As to why this is so, Kevin Chung of Avante International Technology revealed at the just concluded CashlessAfrica Expo that while the communication network and bandwidth are adequate, the data centers in the financial communities in Nigeria need to upgrade from Tier 1-2 to Tier 3-4 to enable the cashless economy.
 
Others blame it on poor enlightenment, power epilepsy, and inefficient network services.
At the heart of these “whys” is a single, fear-inducing word.
Security.
Many Nigerians, especially the baby boomers, still find it difficult placing any trust in a new (relatively speaking) form of payment processing platform.

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4 comments on “Nigeria Ranked 7th On PoS Transactions in Africa, S/Africa, Ghana lead.

  1. KingAbsolute says:

    Many people in most part of this country has refused to adapt to POS.
    For example, I stumbled on a shirt I really liked in the market. I wanted to make a transfer of the price to the seller’s account, but he refused (80% of sellers in same market would do the same). He’d rather have me withdraw first & pay him.
    This is mostly why we’re 7th, people are not yet sensitized. People lack trust, mostly because of part incidents where your money will disappear due to power failure, poor network, etc.

  2. KingAbsolute says:

    One thing I wanna ask anyone seeing this is:
    How do robbers steal with POS and won’t get caught? This has been happening recently.

    1. Kemi Oguntayo says:

      Please where has this been happening and why would they want to steal a pos in the first place

  3. ỌBÁDÁRÀ says:

    … WELL, I BELIEVE NIGERIANS WILL STILL COME TO THIS ADOPTION, BUT IT MAY TAKE TIME. HOW DO I PAY THE COMMON TAXI MAN WITH POS, HOW DO PEOPLE WHO SELL RODO COLLECT THEIR MONEY THROUGH POS OR THE TRUCK PUSHERS, THOSE WHO SELL IN TRAFFIC AND CO?
    AS FOR THE STEALING, NIGERIANS CAN DO AND UNDO WHEN IT COMES TO STUFFS LIKE THAT…

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