To boost shopping and other electronic payment system in the
country, a summit on Point of Sales (PoS) terminal transactions, speakers will
converge in Lagos September 29, 2017.
The programme which is an intervention to address the gaps
noticeable in the expectations of stakeholders and the reality in the PoS
business sector of the payments system has been put together by one of the
Central Bank of Nigeria (CBN) licensed Payment Terminal Service Provider
(PTSP), Global Accelerex Limited.
The Managing Director, Global Accelerex, Mr. Tunde
Ogungbade, said the motivation behind the summit is the need for stakeholders
to jointly address issues mitigating the achievement of optimum performance and
results in the PoS business in the country.
Going down memory lane, he said effective and full-scale introduction of
PoS terminal as a recognised channel of transaction occurred with the
introduction of the cashless policy by the CBN in 2012 and that prior to this
time, transactions via the PoS occurred in trickles. The introduction of the
cashless policy gave rise to a lot of interest in the PoS business with
resultant investment by various stakeholders – banks, terminal suppliers,PTSPs,
Payment Terminal Application Developers (PTADs), payment card manufacturers
etc. However, few years down the line, a review of the performance of the PoS
sector revealed a very wide margin between stakeholder expectations and
realities in terms of performance, adoption and of course Return on Investment
(RoI) in spite of the potentials and the opportunities available in the
industry- PoS penetration is still low as there is need for more devices with
innovative retail offerings.
He said summit would be held on a quarterly basis as an
intervention designed as a platform to address the noticeable gaps in the PoS
business in Nigeria as well as to promote the adoption and usage of innovative
PoS solutions in order to achieve the objectives of attaining sustainable
growth in the sector.
Notable leaders of thought and industry experts invited as
resource persons at the summit include – Dr Doyin Salami from Lagos Business
School, Mr Musa Jimoh – Deputy Director, Banking & Payments System, CBN, Mr
Sarafadeen Fasasi – Chairman, Association of Mobile Money Operators, Mr Prakash
Keswani, the Managing Director – Artee Industries Limited (SPAR), the Managing
Director, Hard Rock Café and Mr Tunde Ogungbade, Managing Director, Global
Accelerex.
Participants at the summit will include representatives of
all major stakeholders – banks, terminal manufacturers, merchants, system
aggregators and regulators among others.
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