From Isaac Anumihe, Abuja
AS part of efforts to deepen the electronic payment system in the country, Central Bank of Nigeria (CBN) is considering a voice caller system in addition to the Point of Sale (PoS).
Speaking yesterday in Abuja after a cash presentation award to lucky winners of electronic card users, the Director, Banks and Payment Systems Department of the apex bank, Mr. Dipo Fatokun, said that CBN would soon introduce a mobile PoS (EMPoS),which enables one to transact business on voice. While lamenting that infrastructure is a major problem to achieving a seamless operation , he said “the major infrastructure in PoS is connectivity and it is because of this that the mobile PoS (EMPoS), is coming into the market. The way mobile PoS works is such that if the signal strength is not enough or as high as what you will need for a desktop PoS, if the signal strength is enough for you to make a voice call, your transactions can still go through. That is why the industry is embracing this mobile PoS. And as more of it is being deployed, you see a higher level of successful transactions.
“The other thing is discussing with the telcos through their regulator, which is the National Communications Commission (NCC). A lot of discussion is ongoing so that the telcos will also make this connectivity available on their network, because you know it rides on the platform of the telcos. If the connectivity is there, then the transactions will be very successful.”
He also disclosed that the total volume of transactions conducted through 120,000 PoS terminals across the country is put at an average of N1.5 billion on daily basis.
According to him, close to N100 billion is processed through electronic payment system and PoS has done an average of N1.5 billion everyday.
Source : SunOnline