Mo­bile Money Agents De­cry High R ate of De­cline PoS Trans­ac­tions in Au­gust

Nigeria Communications Week - - Front Page - Chike On­wueg­buchi

MO­BILE money and bank­ing agents at the hin­ter­land have de­cried high rate of de­cline trans­ac­tions they ex­pe­ri­enced last month com­pared to other months.

Some of the agents that spoke with Nige­ria Com­mu­ni­ca­tions week lamented that about 50 per cent of their Point of Sale ter­mi­nal trans­ac­tions in the month un­der re­view where de­clined, height­en­ing lack of con­fi­dence in the re­li­a­bil­ity of the use of PoS in the agency bank­ing busi­ness.

Fasasi Sarafadeen Atanda, man­ag­ing di­rec­tor, Part­ner de Ecosys­tem - an agent net­work man­age­ment com­pany, said: “al­most 50 per cent of our PoS trans­ac­tions failed in the Au­gust and the im­pli­ca­tion of this sit­u­a­tion is dwin­dling cus­tomer trust. I think this was caused by switch­ing and card pro­cess­ing fac­tors. We look for­ward to a bet­ter ser­vice in Septem­ber.”

Olowu Babs Azeez, chief ex­ec­u­tive of­fi­cer, OBAT Global In­vest­ment, cor­rob­o­rated Atanda on downtime ex­pe­ri­enced by agents last month. “That could be true be­cause I could re­mem­ber NIBSS and In­ter­switch was down cer­tain time. Al­though some agents that are not on the same switch trunk were hav­ing suc­cess­ful trans­ac­tions.

Ex­plain­ing the ma­jor cause of de­cline PoS trans­ac­tions es­pe­cially at the hin­ter­land, Ba­batunde Obrimah, chief op­er­at­ing of­fi­cer, Fin­tech

As­so­ci­a­tion of Nige­ria, said that de­cline in PoS trans­ac­tions are mostly net­work is­sues. “So if lo­cal net­work is not sta­ble trans­ac­tions are not likely to even get to NIBSS which is the ag­gre­ga­tor.

“I think in­ves­ti­ga­tion has to start with Telecom­mu­ni­ca­tions ser­vices. Not im­pos­si­ble that with more peo­ple work­ing from home, there is an in­crease in us­age putting pres­sure on

ex­ist­ing in­fra­struc­tures.

“So, I think we need to in­crease and up­grade ex­ist­ing in­fra­struc­tures such that if net­work is ad­e­quate, trans­ac­tions can be con­sum­mated.

“Agents need to also doc­u­ment th­ese de­clines so that the data is made avail­able to NIBSS and they should be able to track and con­firm if the trans­ac­tions ac­tu­ally got to their net­work or not. Un­less we are sure of where the prob­lem lies, it may be un­fair to blame NIBSS as the prob­lem,” he said.

Em­manuel Agha, man­ag­ing di­rec­tor, In­novec­tives- a Su­perA­gent in the fi­nan­cial in­clu­sion ecosys­tem, at­trib­uted de­cline in trans­ac­tion with a PoS de­vice to some fac­tors such as when the cus­tomer did not put the right pa­ram­e­ter as re­quired by the de­vice, th­ese in­clude wrong Per­sonal Iden­ti­fi­ca­tion Num­ber or cus­tomer ac­count num­ber.

“More so, there could also be a de­cline in trans­ac­tion when the cus­tomer’s bank can­not be reach, this has to do with con­nec­tiv­ity is­sues that is pro­vided by telecom­mu­ni­ca­tions op­er­a­tors,” he added.

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