Report: E-Payment Transactions Surge To $71bn

Transactions through Electronic payment (e-payment) channels increased by 1.84 per cent to $71 billion (N29.40 trillion) in February 2022, from $70 billion (N28.87 trillion) in the previous month, a report by Financial Derivatives Company Limited (FDC) has shown.
 
The report also indicates that at N29.40 trillion in February this year, the total value of e-payment transactions is 42.24 per cent higher than N20.67 trillion recorded for February 2021. While FDC did not disclose the source of its numbers, the firm usually cites data obtained from the Nigeria Interbank Settlement System (NIBSS).
 
Specifically, the report shows that the value of cheque transactions rose by 9.50 per cent to N259.81 billion in February this year from N237.26 billion in the previous month. It also shows that value of Point of Sale (PoS) transactions was up by 0.23 per cent to N575.06 billion in February this year from N573.72 billion in the previous month…
 
More details through:
https://www.newtelegraphng.com/report-e-payment-transactions-surge-to-n29-40trn/
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