Nigeria Sees Surge in POS Agents Redefining Cash Banking Landscape
The article delves into the increasing prominence of POS agents in Nigeria, serving as alternative cash banks amid challenges faced by traditional banking channels like ATMs. Mimj Yakigar highlights the gradual shift towards POS transactions, with customers facing difficulties accessing cash through conventional means.
Olayemi Cardoso emphasizes the continued importance of cash despite the growth in electronic transactions. Fatai Karim notes the rise of POS transactions alongside a 4.6% increase in cash circulation.
Zainab Okosun's experience reflects the growing reliance on POS agents due to ATM challenges. Abraham Aziegb underscores the enduring demand for cash, with POS withdrawals totaling N36.34 trillion in the first half of 2025, indicating a shift in customer behavior towards POS transactions.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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