Cashless Economy: Stakeholders Decry Lack of PoS at Key Institutions

Stakeholders in the Information and Communications Technology (ICT) sector have faulted a situation where Point of Sales (PoS) terminal machines, which is one of the channels for cashless transactions, are not available at key institutions like Airports, Power Holding Companies of Nigeria (PHCN), Hospitals, among otters, where the public visits regularly for payment of services.

Although they commended the Central Bank of Nigeria and other institutions like the igeria Inter-Bank Settlement System (NIBSS), that are driving the cashless initiative drive the initiative.

Accepting the stakeholders’ point of argument as valid, Head, Corporate Communications at NIBSS, Lilian Phido, said the process of cashless economy is gradual and promised there are plans in the pipeline to introduce PoS in key institutions that are yet to commence financial transactions with PoS.

Phido who spoke at a cashless transaction event in Lagos, organised by Intermarc Consulting recently, however called on Nigerians to maximise the use of PoS and other transaction channels that exist in places like shopping mall and petrol stations, where the public also go to obtain and pay for their services. She pointed out that there are PoS machines installed in petrol stations and shopping malls, but that Nigerians do not ask to use them, blaming it on the culture and attitude of Nigerians, which she said, must change.

“A situation where people buy petrol from petrol stations as well as gas from gas plants and pay with cash, without asking for PoS machine, is about culture attitude, which I think Nigerians must change,” Phido said. She explained that PoS machines have been