As a prelude to the application of its cashless economy proposal, the Central Bank of Nigeria (CBN) has appointed four manufacturers for the provision of Point-of-Sale (PoS) terminals for the Nigerian market.
A statement from CBN, issued by the Head of Corporate Communication, Mohammed Abdulahid, disclosed this on Friday in Abuja. It listed the names of the appointed manufacturers as PAX Technology, Bitel, Ingenico and VeriFone.
“They were selected after a thorough process by a committee comprising key stakeholders in the payments system value chain,” he said. “The Bankers Committee is committed to deploying over 40,000 Point-Of-Sale terminals in Lagos by the end of December. This deployment is expected to create an enabling environment for the take-off of the new cash policy in Lagos State.”
The statement explained that the banks came together to negotiate the terms of operation with Point-of-Sale terminal manufacturers in order to reduce the costs and guarantee greater access to the terminals.
“Consequently, an attractive discount of about 30 per cent on terminals only has been negotiated with each of these manufacturers on behalf of the industry,” he said. “They are available to any terminal owner, acquirer, merchant, bank or other stakeholders wishing to participate in this arrangement.
Other benefits negotiated include local after-sales support, extended warranties, training, and minimum requirements for stocking of spare parts and swap units, amongst other things.”
The statement also quoted the CBN Deputy Governor Operations, Tunde Lemo, as saying that the development was a welcomed idea as it showed the power of togetherness.
“This is a welcome development as it shows the benefits we can achieve when we do things collaboratively,” he said. “The manufacturers are now willing to take the Nigerian market more seriously, and do what it takes to ensure customer satisfaction.”
He added that with the recently licensed Payment Terminal Service Providers, Nigerian customers should expect a much more pleasant PoS user experience.-DAILYTIMES
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