In view of this, experts will gather on December 5, in Lagos, for the Q4 PoS Innovation Summit to proffer solutions to some of the attendant challenges. Announcing the event, the Managing Director, Global Accelerex Limited, sponsors of the summit, Tunde Ogungbade, said it has become important to promote and educate Nigerians on the necessary adoption and growth of PoS as a cashless payment channel for businesses in Nigeria. He said: “Even as Nigeria has recorded about 80 per cent of transactions in retail shops carried out on PoS terminals, we have only 150,000 terminals in circulation compared to a country like Brazil, which has almost same features like Nigeria, but they have about 1.5million PoS terminals in circulation. It is not about card alone, the PoS can do Mcash and other things. The organisers said the summit will converge all the stakeholders in the PoS value chain, to discuss and strategise in a bid to explore opportunities, and improve service delivery in the PoS business sector of the Nigerian payment system.

Source: The Guardian November 22, 2017 04:18 UTC