PoS Machines

CitiServe Nigeria Limited,  one of the licensed payments terminal service providers has commenced the enlightenment of merchants in Lagos states on how to use the point of sale (PoS) machines. Citiserve is a subsidiary of Vigeo Holdings Limited and Union Bank of Nigeria Plc.

The firm said the move was to ensure the success of the Central Bank of Nigeria (CBN) cashless policy.
The Chief Executive Officer, Citiserve, Lola Ogunbambi, who spoke at the Citiserve Merchant Congress in Lagos, said her organisation would continue to interact with merchants to identify challenges in the use of PoS and addressing them.
She identified the major complaints by the merchants as poor network, delayed credit to merchants’ accounts by banks, battery failure, and poor infrastructure.

She therefore urged the merchants to effectively optimise the use of the terminals, while encouraging customers in order to reduce the risks associated with carrying cash around

On his part, the Head, e- Distributions, Citiserve, Jubril Salaudeen, advised cardholders to be security conscious.
He also assured that merchants that the regulator was working assiduously towards achieving T+1 clearing cycle.
“Before the advent of GSM, we read different reports that said that it would not work in Nigeria. But what is the situation today? So we will continue to work on the cashless policy to see how we can improve on it. This is a laudable initiative and we must support it,” he added.
Head, e-Business, Union Bank Plc, Mr. Fatai Baruwa, said the bank would continue to work on the cashless policy to see how it can get better.

“First thing is education. We need to educate our customers and let them know more about the PoS and we also need to encourage the card holders. Part of what the Federal Government is doing to encourage the initiative is that for fertilizers and other agric inputs, they are paying through the phones,” he said.