Update on the Use of Cards for Online and POS Payments.
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| Collection of Nigerian banks pictures |
The central bank of Nigeria CBN has introduce new policies on POS and USSD transfer in Nigeria and provide the way in which the policies will be observing, kindly follow me to the end of this article for full explaination.
1. Online payment
2. USSD transfer
3. POS.
All POS transection will under go for review before it will be done as successful transaction, therefore the transaction will show you pending before approval.
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| Policy massage from economic bank of Nigeria in Eco |
The amount of you sent to someone will not be deducted from your account till the transaction is successfully approved by the banks.
The money you make payment, transfer or any other transection will be unavailable to transfer again even do they are on your account.
According to ecobank (economic bank of Nigeria): CBN directed them and other Nigerian bank to bring the notes to there costomers across the country.
Another policy is that central bank gives out new designed cheque
According to central bank of Nigeria The security and design of Nigerian cheque most be enhance for secure transaction and encryption to Nigerian commercial activities.
All those improvement has become necessary due to increase in number of cyber security crime in and out side the country and entere world.
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