E-Payment Providers Move to Tackle Challenges to Pos Services in Nigeria

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Electronic payment providers under aegis of the E-Payment Providers Association of Nigeria (E-PPAN) has moved to tackle the challenges confronting deployment and usage of Point of Sale (PoS).

Rising from the E-PAN Techno Interactive Forum Series 3, electronic payment providers set up a working group of 14 members to come out with a blueprint for rapid deployment and usage PoS across the country.

The working group comprises representatives of banks, Central Bank of Nigeria (CBN), Federal Inland Revenue Services, MTN, PoS merchants, National Central Switch and other stakeholders in electronic payment services industry.

The working group is to; articulate the issues in promotion of PoS; propose solutions and action plan; and recommend implementation plan.

The forum was devoted to finding a way forward on the PoS industry in Nigeria. Guest speaker at the forum, Mrs Bridget Morris, Manager, Transaction Payment Solutions (TPS) Zambia observed that roles of various players in the POS industry in Nigeria is not clear hence there is need to be clear about who is involved, who needs to be involved. She said the uncertainty about the roles of players also occasions uncertainty about the process flows in the industry.

She said there is need for regulatory guidelines for the PoS industry vis_a_vis Marked price of goods at POS; All cards at all terminals; Multi-acquiring at POS; Cash back at POS; Interchange at 1%; and l local transactions to be settled locally.

She said there is also need for a card acquirers group which would be a recognised industry body to engage the regulator and telecommunications companies, adding that industry consultations and pressure needed probably led by regulator is needed.

She noted that there is awareness/knowledge gaps about card products saying, "Card products and services are a complete 'black art' in some parts of country. Lack of knowledge even within banks, which is inhibiting, as so many bank divisions need to be part of successful POS initiative. POS needs to be promoted in the way that ATMs were previously.

(Source: Vanguard)