Mobile Device Cash Transactions Climb To N216b In Nine Months

About N216b was transferred via mobile devices between January and September 2018, according to the Nigeria Interbank Settlement System (NISS).

This was a 56 percent hike from N138bn made in the same period in 1017 as commercial banks, telcos and fintechs make moves to entrench finanancial inclusion.

In addition, mobile device transactions rose by 47 percent in the same period, with the rise expected to continue in the coming years.

Also, the Point of Sales, there were transactions valued at N1.61tn across terminals in all the country from January to September 2018, a 102 percent jump as against N0.98tn in 2017.

The value of instant transfer on the NIBSS platform from January to September got a hike of 41 percent from N40.45tn in 2017 to N56.85tn within the same period this year