FORGET ATMS NIGERIANS ARE ALL ABOUT THE POS LIFE in 2024!
In the first half of 2024, Nigerians spent a jaw-dropping N85.91 TRILLION on POS transactions! That’s 7 TIMES the N12.21tn spent at ATMs! WHY THE BOOM? POS terminals are everywhere. Cash scarcity and long ATM queues drove people to look for faster options. But wait… it’s not all sunshine and transactions.
POS FEES doubled during the festive season! Many were forced to pay N200 for every N5,000 withdrawal. Meanwhile, ATM usage is on the decline from N14.63tn in 2023 to just N12.21tn in 2024. But guess what? The average ATM transaction value is higher! What’s Next? Mobile payments and internet banking are also booming. But with great transactions come… great risks.
POS fraud cases jumped 31% in Q1 2024 alone. Protect your hard-earned money! POS is the future – but let’s make it safe and affordable for all! What do YOU think about these trends? Are POS charges fair? Let us know in the comments below!
