Despite the economic gains that have come with the Central Bank of Nigeria’s (CBN) policies that enhanced the use of Point of Sale (PoS) machines for financial transactions across the country, the devious activities of scammers are discouraging many from making use of the technology in their business deals. In this report, OMIKO AWA x-rays the tricks of PoS fraudsters and experts’ views on how to beat them at their game.
The fiscal policy of the Central Bank of Nigeria (CBN) that paved way for the operation of agent banking in 2013 changed the nation’s financial landscape impressively. The policy ensured the extension of financial services to those who were, before then, unwittingly excluded from the conventional banking system.
Through the policy, the burden of rural and semi-urban dwellers that hitherto travelled long distances to access banking services was relieved. Point-of-Sales (PoS) businesses sprang up in villages/neighbourhoods that have internet access, empowering the people on one hand and providing financial services to them on the other hand.
Before long, PoS became the darling of the public,…
Guardian Nigeria
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https://guardian.ng/saturday-magazine/pos-scammers-clogging-the-wheel-of-digital-transactions-nationwide/
