culled from: THIS DAY Newspaper
United Bank for Africa (UBA), one of the few banks licensed to operate Mobile Money in the country has disclosed that it has already deployed 3, 000 Point of Sales (PoS) terminals in Lagos, with a plan to deploy 30,000 by the end of the year.
Divisional Head of E-Banking for UBA, Mr. Luqman Balogun who gave the information in Lagos at the weekend during an interactive session with Information and Communications Technology (ICT) Editors, said the plan to deploy several PoS in Lagos, was to consolidate its resolve in pioneering cashlite economy among the banks in the country, as currently being championed by the Central Bank of Nigeria (CBN) and the Bankers' Committee of Nigeria (BCN).
He said UBA has several other e-payment platforms, apart from Pos, aimed at driving cashlite economy.
CBN had last year, licensed 11 operators to carryout Mobile Money transactions across the country, aimed at reducing the volume of cash in the society.
The whole idea is to empower Nigerians in using electronic means and platform in handling the bulk of their financial transactions.
Speaking on the benefits of PoS deployed by UBA in driving cashlite economy, Balogun said it would fast track electronic payment across the country.
He said CBN standardised PoS in the country and approved of five standard PoS vendors in the country, explaining that UBA is currently partnering with one of the vendors, with plans to patronise others subsequently.
Speaking on the initial challenges of the deployment of PoS in the country, Balogun said before the standardisation of PoS by CBN, operators were using all kinds of PoS, and that it created security problems, as most of the PoS were selective in accepting debit cards used for financial transactions.
He said that with the standardisation of PoS, all the approved PoS in the country now accept all debit cards, irrespective of the banks that issued them.
CBN, according to Balogun, went ahead to license Payment Terminal Service Providers (PTSP), who take responsibility of deploying and maintaining PoS in the country.
UBA, according to him, remained committed to the vision of CBN in driving cashlite society, and has positioned itself as the bank at the forefront driving such initiative.
Other e-banking platforms introduced by UBA, according to Balogun, are U-Direct, U-Mobile, SMS and Email Alert, consolidated Internet Payment Gateway, Internet banking, among other
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