Nigeria’s E-Payment Transactions Hit  N24tn 

Nigeria Inter-Bank Settlement System has said that  the  value of e-payment transactions in Nigeria rose by 6.37 per cent to N24.08tn last month.

It said in a  data that total e-payment transactions increased  by 52.35 per cent year-on-year in the corresponding period,adding that in September last yeat, e-payment transactions were N15.8tn.

According to the data,last month, NIP transactions were N23.52tn, while PoS transactions was N556.36bn.

Total volume of transactions on NIP and POS terminals rose to 296.15 million and 87.71 million respectively,it added

It said the COVID-19 pandemic changed the e-payments landscape, accelerating the adoption of instant payments because more people switched to electronic channels for funds exchange.