209% Surge Drives Digital Payment Adoption in Nigeria
Point of Sale (PoS) transactions in Nigeria have recorded a remarkable surge, reaching N10.45 trillion in the first quarter of 2025. This represents a staggering 209% increase compared to the N3.62 trillion recorded during the same period in 2024. The rapid growth in PoS transactions is a testament to the increasing adoption of digital payments in Nigeria.
The surge in PoS transactions can be attributed to the persistent cash scarcity in the country, which has driven individuals and businesses to seek alternative payment methods. Financial technology companies have played a crucial role in meeting this demand, rapidly expanding their PoS terminal deployments across the country. This growth has not only promoted financial inclusion but also provided a convenient and efficient way for Nigerians to conduct transactions.
The growth in PoS transactions is expected to continue, driven by the increasing adoption of digital payments and the expansion of financial services to underserved areas. As the Nigerian economy continues to evolve, it is likely that PoS transactions will play an increasingly important role in driving financial inclusion and promoting economic growth. With the right policies and infrastructure in place, Nigeria can harness the full potential of digital payments to drive economic development and improve the lives of its citizens.
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